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Mapped: GDP Growth Forecasts by Country, in 2023

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Mapped: GDP Growth Forecasts by Country, in 2023

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Mapped: GDP Growth Forecasts by Country, in 2023

This was originally posted on Advisor Channel. Sign up to the free mailing list to get beautiful visualizations on financial markets that help advisors and their clients.

Since Russia’s invasion of Ukraine early last year, talk of global recession has dominated the outlook for 2023.

High inflation, spurred by rising energy costs, has tested GDP growth. Tightening monetary policy in the U.S., with interest rates jumping from roughly 0% to over 4% in 2022, has historically preceded a downturn about one to two years later.

For European economies, energy prices are critical. The good news is that prices have fallen recently since March highs, but the continent remains on shaky ground.

The above infographic maps GDP growth forecasts by country for the year ahead, based on projections from the International Monetary Fund (IMF) October 2022 Outlook and January 2023 update.

2023 GDP Growth Outlook

The world economy is projected to see just 2.9% GDP growth in 2023, down from 3.2% projected for 2022.

This is a 0.2% increase since the October 2022 Outlook thanks in part to China’s reopening, higher global demand, and slowing inflation projected across certain countries in the year ahead.

With this in mind, we show GDP growth forecasts for 191 jurisdictions given multiple economic headwinds—and a few emerging bright spots in 2023.

Country / Region2023 Real GDP % Change (Projected)
🇦🇱 Albania2.5%
🇩🇿 Algeria2.6%
🇦🇴 Angola3.4%
🇦🇬 Antigua and Barbuda5.6%
🇦🇷 Argentina*2.0%
🇦🇲 Armenia3.5%
🇦🇼 Aruba2.0%
🇦🇺 Australia*1.6%
🇦🇹 Austria1.0%
🇦🇿 Azerbaijan2.5%
🇧🇭 Bahrain3.0%
🇧🇩 Bangladesh6.0%
🇧🇧 Barbados5.0%
🇧🇾 Belarus0.2%
🇧🇪 Belgium0.4%
🇧🇿 Belize2.0%
🇧🇯 Benin6.2%
🇧🇹 Bhutan4.3%
🇧🇴 Bolivia3.2%
🇧🇦 Bosnia and Herzegovina2.0%
🇧🇼 Botswana4.0%
🇧🇷 Brazil*1.2%
🇧🇳 Brunei Darussalam3.3%
🇧🇬 Bulgaria3.0%
🇧🇫 Burkina Faso4.8%
🇧🇮 Burundi4.1%
🇨🇻 Cabo Verde4.8%
🇨🇲 Cameroon4.6%
🇰🇭 Cambodia6.2%
🇨🇦 Canada*1.5%
🇨🇫 Central African Republic3.0%
🇹🇩 Chad3.4%
🇨🇱 Chile-1.0%
🇨🇳 China*5.3%
🇨🇴 Colombia2.2%
🇰🇲 Comoros3.4%
🇨🇷 Costa Rica2.9%
🇨🇮 Côte d'Ivoire6.5%
🇭🇷 Croatia3.5%
🇨🇾 Cyprus2.5%
🇨🇿 Czech Republic1.5%
🇨🇩 Democratic Republic of the Congo6.7%
🇩🇰 Denmark0.6%
🇩🇯 Djibouti5.0%
🇩🇲 Dominica4.9%
🇩🇴 Dominican Republic4.5%
🇪🇨 Ecuador2.7%
🇪🇬 Egypt*4.0%
🇸🇻 El Salvador1.7%
🇬🇶 Equatorial Guinea-3.1%
🇪🇷 Eritrea2.9%
🇪🇪 Estonia1.8%
🇸🇿 Eswatini1.8%
🇪🇹 Ethiopia5.3%
🇫🇯 Fiji6.9%
🇫🇮 Finland0.5%
🇫🇷 France*0.7%
🇲🇰 North Macedonia3.0%
🇬🇦 Gabon3.7%
Georgia4.0%
Germany*0.1%
Ghana2.8%
Greece1.8%
Grenada3.6%
Guatemala3.2%
Guinea5.1%
Guinea-Bissau4.5%
Guyana25.2%
Haiti0.5%
Honduras3.5%
Hong Kong SAR3.9%
Hungary1.8%
Iceland2.9%
India*6.1%
Indonesia*4.8%
Iraq4.0%
Ireland4.0%
Iran*2.0%
Israel3.0%
Italy*0.6%
Jamaica3.0%
Japan*1.8%
Jordan2.7%
Kazakhstan*4.3%
Kenya5.1%
Kiribati2.4%
South Korea*1.7%
Kosovo3.5%
Kuwait2.6%
Kyrgyz Republic3.2%
Lao P.D.R.3.1%
Latvia1.6%
Lesotho1.6%
Liberia4.2%
Libya17.9%
Lithuania1.1%
Luxembourg1.1%
Macao SAR56.7%
Madagascar5.2%
🇲🇼 Malawi2.5%
🇲🇾 Malaysia*4.4%
🇲🇻 Maldives6.1%
🇲🇱 Mali5.3%
🇲🇹 Malta3.3%
🇲🇭 Marshall Islands3.2%
🇲🇷 Mauritania4.8%
🇲🇺 Mauritius5.4%
🇲🇽 Mexico*1.7%
🇫🇲 Micronesia2.9%
🇲🇩 Moldova2.3%
🇲🇳 Mongolia5.0%
🇲🇪 Montenegro2.5%
🇲🇦 Morocco3.1%
🇲🇿 Mozambique4.9%
🇲🇲 Myanmar3.3%
🇳🇦 Namibia3.2%
🇳🇷 Nauru2.0%
🇳🇵 Nepal5.0%
🇳🇱 Netherlands*0.6%
🇳🇿 New Zealand1.9%
🇳🇮 Nicaragua3.0%
🇳🇪 Niger7.3%
🇳🇬 Nigeria*3.2%
🇳🇴 Norway2.6%
🇴🇲 Oman4.1%
🇵🇰 Pakistan*2.0%
🇵🇼 Palau12.3%
🇵🇦 Panama4.0%
🇵🇬 Papua New Guinea5.1%
🇵🇾 Paraguay4.3%
🇵🇪 Peru2.6%
🇵🇭 Philippines*5.0%
🇵🇱 Poland*0.3%
🇵🇹 Portugal0.7%
🇵🇷 Puerto Rico0.4%
🇶🇦 Qatar2.4%
🇨🇬 Republic of Congo4.6%
🇷🇴 Romania3.1%
🇷🇺 Russia*0.3%
🇷🇼 Rwanda6.7%
🇼🇸 Samoa4.0%
🇸🇲 San Marino0.8%
🇸🇹 São Tomé and Príncipe2.6%
🇸🇦 Saudi Arabia*2.6%
🇸🇳 Senegal8.1%
🇷🇸 Serbia2.7%
🇸🇨 Seychelles5.2%
🇸🇱 Sierra Leone3.3%
🇸🇬 Singapore2.3%
🇸🇰 Slovak Republic1.5%
🇸🇮 Slovenia1.7%
🇸🇧 Solomon Islands2.6%
🇸🇴 Somalia3.1%
🇿🇦 South Africa*1.2%
🇸🇸 South Sudan5.6%
🇪🇸 Spain*1.1%
🇱🇰 Sri Lanka-3.0%
🇰🇳 St. Kitts and Nevis4.8%
🇱🇨 St. Lucia5.8%
🇻🇨 St. Vincent and the Grenadines6.0%
🇸🇩 Sudan2.6%
🇸🇷 Suriname2.3%
🇸🇪 Sweden-0.1%
🇨🇭 Switzerland0.8%
🇹🇼 Taiwan2.8%
🇹🇯 Tajikistan4.0%
🇹🇿 Tanzania5.2%
🇹🇭 Thailand*3.7%
🇧🇸 The Bahamas4.1%
🇬🇲 The Gambia6.0%
🇹🇱 Timor-Leste4.2%
🇹🇬 Togo6.2%
🇹🇴 Tonga2.9%
🇹🇹 Trinidad and Tobago3.5%
🇹🇳 Tunisia1.6%
🇹🇷 Turkey*3.0%
🇹🇲 Turkmenistan2.3%
🇹🇻 Tuvalu3.5%
🇺🇬 Uganda5.9%
🇺🇦 UkraineN/A
🇦🇪 United Arab Emirates4.2%
🇬🇧 United Kingdom*-0.6%
🇺🇲 U.S.*1.4%
🇺🇾 Uruguay3.6%
🇺🇿 Uzbekistan4.7%
🇻🇺 Vanuatu3.1%
🇻🇪 Venezuela6.5%
🇻🇳 Vietnam6.2%
West Bank and Gaza3.5%
🇾🇪 Yemen3.3%
🇿🇲 Zambia4.0%
🇿🇼 Zimbabwe2.8%

*Reflect updated figures from the January 2023 IMF Update.

The U.S. is forecast to see 1.4% GDP growth in 2023, up from 1.0% seen in the last October projection.

Still, signs of economic weakness can be seen in the growing wave of tech layoffs, foreshadowed as a white-collar or ‘Patagonia-vest’ recession. Last year, 88,000 tech jobs were cut and this trend has continued into 2023. Major financial firms have also followed suit. Still, unemployment remains fairly steadfast, at 3.5% as of December 2022. Going forward, concerns remain around inflation and the path of interest rate hikes, though both show signs of slowing.

Across Europe, the average projected GDP growth rate is 0.7% for 2023, a sharp decline from the 2.1% forecast for last year.

Both Germany and Italy are forecast to see slight growth, at 0.1% and 0.6%, respectively. Growth forecasts were revised upwards since the IMF’s October release. However, an ongoing energy crisis exposes the manufacturing sector to vulnerabilities, with potential spillover effects to consumers and businesses, and overall Euro Area growth.

China remains an open question. In 2023, growth is predicted to rise 5.2%, higher than many large economies. While its real estate sector has shown signs of weakness, the recent opening on January 8th, following 1,016 days of zero-Covid policy, could boost demand and economic activity.

A Long Way to Go

The IMF has stated that 2023 will feel like a recession for much of the global economy. But whether it is headed for a recovery or a sharper decline remains unknown.

Today, two factors propping up the global economy are lower-than-expected energy prices and resilient private sector balance sheets. European natural gas prices have sunk to levels seen before the war in Ukraine. During the height of energy shocks, firms showed a notable ability to withstand astronomical energy prices squeezing their finances. They are also sitting on significant cash reserves.

On the other hand, inflation is far from over. To counter this effect, many central banks will have to use measures to rein in prices. This may in turn have a dampening effect on economic growth and financial markets, with unknown consequences.

As economic data continues to be released over the year, there may be a divergence between consumer sentiment and whether things are actually changing in the economy. Where the economy is heading in 2023 will be anyone’s guess.

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Ranked: Which NBA Team Takes Home the Most Revenue?

The Celtics and the Mavericks are the fourth and fifth highest-earning teams in the NBA. We show the top teams in the NBA by revenue in 2023.

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This circle graphic shows the top teams in the NBA by revenue during the 2022-2023 season.

Which NBA Team Takes Home the Most Revenues?

This was originally posted on our Voronoi app. Download the app for free on iOS or Android and discover incredible data-driven charts from a variety of trusted sources.

The NBA is projected to earn $13 billion in revenue this year before revenue sharing and debt payments, a 11% jump from last season, driving NBA team valuations even higher.

Since 2005, NBA team valuations have increased faster than any other major U.S. league by a wide margin. For perspective, the rise in their combined valuation has exceeded growth in the S&P 500 by more than threefold during this time period.

This graphic shows the top NBA teams by revenue, based on data from JP Morgan Asset Management.

Ranked: The Highest-Earning NBA Teams

Below, we show the revenue of all 30 NBA teams as of the 2022-2023 season:

RankingTeam2022-2023 Season
Revenue
Valuation
1Golden State Warriors$765M$7.7B
2Los Angeles Lakers$516M$6.4B
3New York Knicks$504M$6.6B
4Boston Celtics$443M$4.7B
5Dallas Mavericks$429M$4.5B
6Los Angeles Clippers$425M$4.7B
7Houston Rockets$381M$4.4B
8Chicago Bulls$372M$4.6B
9Philadelphia 76ers$371M$4.3B
10Miami Heat$371M$3.9B
11Brooklyn Nets$367M$3.9B
12Phoenix Suns$366M$4.0B
13Denver Nuggets$348M$3.4B
14Cleveland Cavaliers$348M$3.4B
15Milwaukee Bucks$329M$3.2B
16Atlanta Hawks$326M$3.3B
17Washington Wizards$323M$3.5B
18San Antonio Spurs$319M$3.3B
19Toronto Raptors$305M$4.1B
20Portland Trail Blazers$300M$3.1B
21Sacramento Kings$289M$3.3B
22Utah Jazz$274M$3.1B
23Detroit Pistons$274M$3.1B
24Charlotte Hornets$269M$3.0B
25Oklahoma City Thunder$267M$3.1B
26Indiana Pacers$263M$2.9B
27New Orleans Pelicans$262M$2.6B
28Orlando Magic$261M$3.0B
29Minnesota Timberwolves$259M$2.5B
30Memphis Grizzlies$258M$2.4B

Revenue figures are net of arena debt service and revenue sharing

With $765 million in revenue, the Golden State Warriors are the highest-earning team in the league, thanks to the stellar performances of all-star players Klay Thompson, Stephen Curry, and Draymond Green.

These players were instrumental in driving the valuation of the franchise, which grew from $1.5 billion in 2015 to a remarkable $7.7 billion in 2023. At this valuation, the Golden State Warriors are the second-most valuable sports team in America, following after the $9 billion Dallas Cowboys NFL franchise. Since 2010, the Warriors’ revenue has increased by sevenfold.

Not only did the team have the highest NBA TV ratings in seven of the last eight years as of last season, the Warriors have the largest social media following across U.S. sport franchises, including 32.4 million Instagram followers. By comparison, the Lakers have 24.6 million followers. Adding to this, the team’s jersey patch deal with Rakuten is worth approximately $45 million per season alone.

Ranking in second are the Los Angeles Lakers, earning $516 million in revenue. Over the last decade, revenues have increased by 76% fueled by the star power of LeBron James and the team’s world-renowned brand. In 2021, the team signed a five-year $100 million jersey patch deal with Korean food brand, Bibigo, making it one of the most valuable in the league.

The New York Knicks are third in revenue with $504 million, followed by the 2023-24 season champions, the Boston Celtics with $443 million in the 2022-23 season and the Dallas Mavericks in fifth at $429 million.

How Do NBA Teams Earn Revenue?

Below, we show the primary sources of revenue for the National Basketball Association (NBA):

Revenue Stream2022-2023 Season
Revenue
Share of Revenues
National Revenue
(Media/broadcast deals, merchandise, shared ticket revenue, other sponsorships)
$4.5B41%
Seating/Suites$2.9B26%
Local Media$1.4B13%
Team Sponsorships$1.3B12%
Concessions/Parking/Other$0.9B8%

As we can see, national revenue makes up the league’s largest share, driven by broadcasting and streaming agreements with national providers.

Going forward, these contract values are set to grow substantially. Today, the league is negotiating broadcasting deals with Amazon, ESPN, and NBC worth an estimated $76 billion over 11 years—making the annual contract value 2.6 times higher than its current contract. With NBA viewership up 16% across ESPN and ABC compared to the 2021-2022 season, strong demand is driving bigger media deals. During the 2022-2023 season, average viewership reached 1.7 million per game across these outlets.

Ticket and suite sales, another key source of revenue, topped $2.9 billion over the 2022-2023 season. In some cases, courtside tickets cost upwards of $3,000 per seat, with a host of celebrities from Jack Nicholson to Kendall Jenner and Bad Bunny sitting close to the action.

Following next in line were local media deals, worth $1.4 billion, and team sponsorship deals, valued at $1.3 billion.

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