Markets
The $88 Trillion World Economy in One Chart
Check out the latest 2023 update of global GDP in one chart.
The $88 Trillion World Economy in One Chart
Check out the latest 2023 update of global GDP in one chart.
The global economy can seem like an abstract concept, yet it influences our everyday lives in both obvious and subtle ways. Nowhere is this clearer than in the current economic state amid the throes of the pandemic.
This voronoi-style visualization from HowMuch relies on gross domestic product (GDP) data from the World Bank to paint a picture of the global economy—which crested $87.8 trillion in 2019.
Editor’s note: Annual data on economic output is a lagging indicator, and is released the following year by organizations such as the World Bank. The figures in this diagram provide a snapshot of the global economy in 2019, but do not necessarily represent the impact of recent developments such as COVID-19.
Top 10 Countries by GDP (2019)
In the one-year period since the last release of official data in 2018, the global economy grew approximately $2 trillion in size—or about 2.3%.
The United States continues to have the top GDP, accounting for nearly one-quarter of the world economy. China also continued to grow its share of global GDP, going from 15.9% to 16.3%.
Rank | Country | GDP | % of Global GDP |
---|---|---|---|
#1 | 🇺🇸 U.S. | $21.4T | 24.4% |
#2 | 🇨🇳 China | $14.3T | 16.3% |
#3 | 🇯🇵 Japan | $5.1T | 5.8% |
#4 | 🇩🇪 Germany | $3.9T | 4.4% |
#5 | 🇮🇳 India | $2.9T | 3.3% |
#6 | 🇬🇧 UK | $2.8T | 3.2% |
#7 | 🇫🇷 France | $2.7T | 3.1% |
#8 | 🇮🇹 Italy | $2.0T | 2.3% |
#9 | 🇧🇷 Brazil | $1.8T | 2.1% |
#10 | 🇨🇦 Canada | $1.7T | 2.0% |
Top 10 Countries | $58.7 trillion | 66.9% |
In recent years, the Indian economy has continued to have an upward trajectory—now pulling ahead of both the UK and France—to become one of the world’s top five economies.
In aggregate, these top 10 countries combine for over two-thirds of total global GDP.
2020 Economic Contractions
So far this year, multiple countries have experienced temporary economic contractions, including many of the top 10 countries listed above.
The following interactive chart from Our World in Data helps to give us some perspective on this turbulence, comparing Q2 economic figures against those from the same quarter last year.
One of the hardest hit economies has been Peru. The Latin American country, which is about the 50th largest in terms of GDP globally, saw its economy contract by 30.2% in Q2 despite efforts to curb the virus early.
Spain and the UK are also feeling the impact, posting quarterly GDP numbers that are 22.1% and 21.7% smaller respectively.
Meanwhile, Taiwan and South Korea are two countries that may have done the best at weathering the COVID-19 storm. Both saw minuscule contractions in a quarter where the global economy seemed to grind to a halt.
Projections Going Forward
According to the World Bank, the global economy could ultimately shrink 5.2% in 2020—the deepest cut since WWII.
See below for World Bank projections on GDP in 2020 for when the dust settles, as well as the subsequent potential for recovery in 2021.
Country/ Region / Economy Type | 2020 Growth Projection | 2021E Rebound Forecast |
---|---|---|
United States | -6.1% | 4.0% |
Euro Area | -9.1% | 4.5% |
Advanced economies | -7.0% | 3.9% |
Emerging economies | -2.5% | 4.6% |
East Asia and Pacific | -0.5% | 6.6% |
Europe and Central Asia | -4.7% | 3.6% |
Latin America and the Caribbean | -7.2% | 2.8% |
Middle East and North Africa | -4.2% | 2.3% |
South Asia | -2.7% | 2.8% |
Sub-Saharan Africa | -2.8% | 3.1% |
Global Growth | -5.2% | 4.2% |
Source: World Bank Global Economic Prospects, released June 2020
Markets
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.
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.
Rank | Company | YTD Change (%) |
---|---|---|
1 | Nvidia | 90.8 |
2 | Meta | 44.3 |
3 | Amazon | 16.9 |
4 | Microsoft | 12 |
5 | 0.2 | |
6 | Apple | -6.7 |
7 | Tesla | -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.
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