Connect with us

Markets

The $86 Trillion World Economy in One Chart

Published

on

Check out the latest 2023 update of the world economy in one chart.

The $86 Trillion World Economy in One Chart

The $86 Trillion World Economy in One Chart

Check out the latest 2023 update of the world economy by country GDPs in one chart.

The world economy is in a never-ending state of flux.

The fact is that billions of variables — both big and small — factor into any calculation of overall economic productivity, and these inputs are changing all of the time.

Buying this week’s groceries or filling up your car with gas may seem like a rounding error when we are talking about trillions of dollars, but every microeconomic decision or set of preferences can add up in aggregate.

And as consumer preferences, technology, trade relationships, interest rates, and currency valuations change — so does the final composition of the world’s $86 trillion economy.

Country GDPs, by Size

Today’s visualization comes to us from HowMuch.net, and it charts the most recent composition of the global economic landscape.

It should be noted that the diagram uses nominal GDP to measure economic output, which is different than using GDP adjusted for purchasing power parity (PPP). The data in the diagram and table below come from the World Bank’s latest update, published in July 2019.

The Top 15 Economies, by GDP

RankCountryGDP (Nominal, USD)Share of World Total (%)
#1🇺🇸 United States$20.49 trillion23.89%
#2🇨🇳 China$13.61 trillion15.86%
#3🇯🇵 Japan$4.97 trillion5.79%
#4🇩🇪 Germany$4.00 trillion4.66%
#5🇬🇧 United Kingdom$2.83 trillion3.29%
#6🇫🇷 France$2.78 trillion3.24%
#7🇮🇳 India$2.73 trillion3.18%
#8🇮🇹 Italy$2.07 trillion2.42%
#9🇧🇷 Brazil$1.87 trillion2.18%
#10🇨🇦 Canada$1.71 trillion1.99%
#11🇷🇺 Russian Federation$1.66 trillion1.93%
#12🇰🇷 Korea, Rep.$1.62 trillion1.89%
#13🇦🇺 Australia$1.43 trillion1.67%
#14🇪🇸 Spain$1.43 trillion1.66%
#15🇲🇽 Mexico$1.22 trillion1.43%

The above 15 economies represent a whopping 75% of total global GDP, which added up to $85.8 trillion in 2018 according to the World Bank.

Most interestingly, the gap between China and the United States is narrowing — and in nominal terms, China’s economy is now 66.4% the size.

A Higher Level Look

The World Bank also provides a regional breakdown of global GDP, which we helps to give additional perspective:

RankGeographic RegionGDP (Nominal, USD)Global Share
#1East Asia & Pacific$25.9 trillion30.2%
#2Europe & Central Asia$23.0 trillion26.8%
#3North America$22.2 trillion25.9%
#4Latin America & Caribbean$5.8 trillion6.8%
#5Middle East & North Africa$3.6 trillion4.2%
#6South Asia$3.5 trillion4.1%
#7Sub-Saharan Africa$1.7 trillion2.0%
World Total$85.8 trillion100.0%

The organization breaks it down by income levels, as well:

Income LevelGDP (Nominal, USD)Global Share
High income countries$54.1 trillion63.1%
Upper middle income countries$24.4 trillion28.4%
Lower middle income countries$6.7 trillion7.8%
Low income countries$0.6 trillion0.7%
World total$85.8 trillion100.00%

The low income countries — which have a combined population of about 705 million people — add up to only 0.6% of global GDP.

Looking Towards the Future

For more on the world economy and predictions on country GDPs on a forward-looking basis, we suggest looking at our animation on the Biggest Economies in 2030.

It is worth mentioning, however, that the animation uses GDP (PPP) calculations instead of the nominal ones above.

Click for Comments

Stocks

Will Tesla Lose Its Spot in the Magnificent Seven?

We visualize the recent performance of the Magnificent Seven stocks, uncovering a clear divergence between the group’s top and bottom names.

Published

on

Will Tesla Lose Its Spot in the Magnificent Seven?

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.

In this graphic, we visualize the year-to-date (YTD) performance of the “Magnificent Seven”, a leading group of U.S. tech stocks that gained prominence in 2023 as the replacement of FAANG stocks.

All figures are as of March 12, 2024, and are listed in the table below.

RankCompanyYTD Change (%)
1Nvidia90.8
2Meta44.3
3Amazon16.9
4Microsoft12
5Google0.2
6Apple-6.7
7Tesla-28.5

From these numbers, we can see a clear divergence in performance across the group.

Nvidia and Meta Lead

Nvidia is the main hero of this show, setting new all-time highs seemingly every week. The chipmaker is currently the world’s third most valuable company, with a valuation of around $2.2 trillion. This puts it very close to Apple, which is currently valued at $2.7 trillion.

The second best performer of the Magnificent Seven has been Meta, which recently re-entered the trillion dollar club after falling out of favor in 2022. The company saw a massive one-day gain of $197 billion on Feb 2, 2024.

Apple and Tesla in the Red

Tesla has lost over a quarter of its value YTD as EV hype continues to fizzle out. Other pure play EV stocks like Rivian and Lucid are also down significantly in 2024.

Meanwhile, Apple shares have struggled due to weakening demand for its products in China, as well as the company’s lack of progress in the artificial intelligence (AI) space.

Investors may have also been disappointed to hear that Apple’s electric car project, which started a decade ago, has been scrapped.

Continue Reading
NOVAGOLD. Pure Gold. Precious Opportunity.

Subscribe

Popular