The gross world product (GWP), also known as gross world income (GWI), is the combined
gross national income
The gross national income (GNI), previously known as gross national product (GNP), is the total amount of factor incomes earned by the residents of a country. It is equal to gross domestic product (GDP), plus factor incomes received from ...
(previously, the "gross national product") of
all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global
gross domestic product
Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performanc ...
(GDP).
[See ]measures of national income and output
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), Gross national income (GNI), net national income (NNI), and adjusted nati ...
for more details. According to the
World Bank
The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...
, the 2013 nominal GWP was approximately 75.59 trillion
United States dollar
The United States dollar (Currency symbol, symbol: Dollar sign, $; ISO 4217, currency code: USD) is the official currency of the United States and International use of the U.S. dollar, several other countries. The Coinage Act of 1792 introdu ...
s.
In 2017, according to the
CIA
The Central Intelligence Agency (CIA; ) is a civilian foreign intelligence service of the federal government of the United States tasked with advancing national security through collecting and analyzing intelligence from around the world and ...
's ''
World Factbook
''The World Factbook'', also known as the ''CIA World Factbook'', is a reference resource produced by the United States' Central Intelligence Agency (CIA) with almanac-style information about the countries of the world. The official print ver ...
'', the GWP was around $80.27 trillion in nominal terms and totaled approximately 127.8 trillion
international dollar
The international dollar (int'l dollar or intl dollar, symbols Int'l$., Intl$., Int$), also known as Geary–Khamis dollar (symbols G–K$ or GK$), is a hypothetical unit of currency that has the same purchasing power parity that the U.S. doll ...
s in terms of
purchasing power parity
Purchasing power parity (PPP) is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currency, currencies. PPP is effectively the ratio of the price of a market bask ...
(PPP).
[ The ]per capita
''Per capita'' is a Latin phrase literally meaning "by heads" or "for each head", and idiomatically used to mean "per person".
Social statistics
The term is used in a wide variety of social science, social sciences and statistical research conte ...
PPP GWP in 2017 was approximately 17,500 international dollar
The international dollar (int'l dollar or intl dollar, symbols Int'l$., Intl$., Int$), also known as Geary–Khamis dollar (symbols G–K$ or GK$), is a hypothetical unit of currency that has the same purchasing power parity that the U.S. doll ...
s according to the ''World Factbook''.World Bank
The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...
, the 2020 GWP in current dollars was approximately $84.705 trillion
''Trillion'' is a number with two distinct definitions:
*1,000,000,000,000, i.e. one million 1,000,000, million, or (ten to the twelfth Exponentiation, power), as defined on the long and short scales, short scale. This is now the meaning in bot ...
.
Recent growth
The table below gives recent percentage values for overall GWP growth from 2006 through 2020, as well as an estimate for 2021, according to the International Monetary Fund
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of las ...
(IMF)'s World Economic Outlook database. Data is given in terms of constant year-on-year prices.
Historical and prehistorical estimates
In 1998, economic historian J. Bradford DeLong estimated the total GWP in 1990 U.S. dollars for the main years between one million years BCE and 2000 CE (shown in the table below).short scale
The long and short scales are two powers of ten number naming systems that are consistent with each other for smaller numbers, but are contradictory for larger numbers.
Other numbering systems, particularly in East Asia and South Asia, hav ...
usage of the term, where 1 billion = 1,000 million = 109.
See also
*List of countries by GDP (nominal)
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or go ...
*List of countries by GDP (PPP)
GDP (PPP) means gross domestic product based on purchasing power parity.
This article includes a list of countries by their forecast estimated GDP (PPP). Countries are sorted by GDP (PPP) forecast estimates from financial and statistical ...
*List of countries by real GDP growth rate
This article includes lists of countries and Dependent territory, dependent territories sorted by their real gross domestic product economic growth, growth rate; the rate of growth of the total value of all final goods and services produced with ...
*World economy
The world economy or global economy is the economy of all humans in the world, referring to the global economic system, which includes all economic activities conducted both within and between nations, including production (economics), producti ...
*World population
In demographics of the world, world demographics, the world population is the total number of humans currently alive. It was estimated by the United Nations to have exceeded eight billion in mid-November 2022. It took around 300,000 years of h ...
Explanatory notes
References
External links
CIA data on GWP
in ''The World Factbook
''The World Factbook'', also known as the ''CIA World Factbook'', is a Reference work, reference resource produced by the United States' Central Intelligence Agency (CIA) with almanac-style information about the countries of the world. The off ...
''
IMF database
– contains continuously updated World Economic Outlook
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of l ...
tables and reports
{{DEFAULTSORT:Gross World Product
Gross domestic product
Global economic indicators