While the economy has broken the deflationary spiral, economic growth remains muted. In 2020, the gap is expected to reduce to $7.05 trillion, and by 2023, the difference would be $5.47 trillion. This page displays a table with actual values, consensus figures, forecasts, statistics and historical data charts for - GDP Annual Growth Rate. Indonesia, the fourth most populous nation, is the seventh-largest economy, with a $3.50 trillion GDP in terms of purchasing power parity.
Aggregates are based on constant 2010 U.S. dollars. The Four Asian Tigers define the high-growth economies of Hong Kong, Singapore, South Korea, and Taiwan. Its per capita GDP of $46,260.71 is ranked 20th globally, while its GDP of $1.84 trillion in terms of PPP pulls it down to the 17th spot. The Netherlands can boast of its highly mechanized, highly productive agricultural sector, which makes it among the top agricultural exporters globally.
Countries by Real GDP Growth Rate in 2018 (Data from IMF WEO Database, April 2020) This article includes a lists of countries and dependent territories sorted by their real gross domestic product growth rate ; the rate of growth of the value of all final goods and services produced within a state in a given year. However, over the years, the role of services has gradually increased and that of manufacturing as a contributor to GDP has declined relatively. The country has a highly skilled workforce and low unemployment (3%). This page in: English; Español; Français ; العربية; 中文; Microdata; Data Catalog; DataBank; Browse by Country Indicator. [3] French GDP dropped at the fastest rate in history, contracting 14% in the second quarter — the latest European economy to reveal its pandemic pain Shalini Nagarajan Jul. In 2018, its nominal GDP was $782.48 billion, while its GDP based on PPP was $1.86 trillion. In 2017, it incurred a huge budget deficit, financed by foreign reserves and bond sales. The country has a GDP (PPP) of $3.37 trillion and a GDP per capita of $8,967.66.
The country remains a major exporter of olive oil, pork, and wine. ... and government outlays.
Back in 1980, Mexico was the 10th-largest economy, with a nominal GDP of $228.6 billion. In recent years, the pace of growth has slowed, although it remains high in comparison to its peer nations. As with each individual country's GDP Growth Rate figures, it is calculated using inflation adjusted GDP ("Real GDP" or "Constant Price GDP") at 2010 prices. The nation that had been riding on the commodity wave suffered multiple setbacks with the end of the commodity supercycle, in addition to internal problems of corruption and political uncertainty, which dampened the investment and business environment.
This page provides values for GDP Annual Growth Rate reported in several countries. DataBank Microdata Data Catalog. Post-Brexit, Spain is the fourth-largest economy in the eurozone. The economy is projected to join the trillion-dollar club by 2023, while its GDP-PPP will reach $2.78 trillion that same year. Switzerland also has a long tradition of industry, especially the clock and watches industry and pharmaceuticals. The Netherlands, the sixth largest economy in the European Union, is the 17th-largest economy in the world. Although agriculture is not a major contributor to its GDP, 60% of the U.K.'s food needs are produced domestically, even though less than 2% of its labor force is employed in the sector. The situation worsened with the imposition of sanctions by the West. The Asian Century refers to the dominant role that Asia is expected to play in the 21st century due to its burgeoning economy and demographic trends. In 2018, the Chinese GDP in nominal terms stood at $13.37 trillion, lower than the U.S. by $7.21 trillion. Menu. Latest official GDP figures published by the World Bank. Since China's transition to a market-based economy through controlled privatisation and deregulation, the country has seen its ranking increase from ninth in 1978 to second to only the United States in 2016 as economic growth accelerated and its share of global nominal GDP surged from 2% in 1980 to 15% in 2016. When the economy was beginning to recover, it suffered a massive earthquake that hit the country socially and economically. Australia is also a land rich in natural resources, as well as a major exporter of energy and food. The nominal GDP of the top 10 economies adds up to about 66% of the The $1.4 trillion Spanish economy is the 13th-largest in the world. When the economies are assessed in terms of purchasing power parity, the U.S. loses its top spot to its close competitor China. South Korea entered the trillion-dollar club in 2004, propelled by international trade and industrialization. Investopedia requires writers to use primary sources to support their work.
The same are expected to touch $1.50 trillion and $3.18 trillion, respectively, by 2023. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products.
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