The gross world product (GWP) is the combined gross national income 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 (GDP). This scenario would envision global growth reviving, albeit modestly, to 4.2% in 2021.In the face of this disquieting outlook, the immediate priority for policymakers is to address the health crisis and contain the short-term economic damage.
CSV XML EXCEL. The global community must act now to avoid a repeat of this catastrophe by building global stockpiles of essential supplies and protective equipment, funding research and supporting public health systems, and putting in place effective modalities for delivering relief to the neediest.© 2020 International Monetary Fund. All rights reserved. Online tool for visualization and analysis. The June 2020 Global Economic Prospects describes both the immediate and near-term outlook for the impact of the pandemic and the long-term damage it has dealt to prospects for growth. The statistic shows the growth in global gross domestic product (GDP) from 2009 to 2019, with projections up until 2021.
The COVID-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast. World gdp growth rate for 2018 was 3.10%, a 0.16% decline from 2017. We provide a wide array of financial products and technical assistance, and we help countries share and apply innovative knowledge and solutions to the challenges they face.Even this bleak outlook is subject to great uncertainty and significant downside risks. This page provides values for GDP Growth Rate reported in several countries. The forecast assumes that the pandemic recedes in such a way that domestic mitigation measures can be lifted by mid-year in advanced economies and later in developing countries, that adverse global spillovers ease during the second half of 2020, and that widespread financial crises are avoided. In 2018, the nominal world GDP was $84,835.46 billion in 2018, and it’s projected to be $88,081.13 billion in 2019. These downturns are expected to reverse years of progress toward development goals and tip tens of millions of people back into extreme poverty.Global coordination and cooperation—of the measures needed to slow the spread of the pandemic, and of the economic actions needed to alleviate the economic damage, including international support—provide the greatest chance of achieving public health goals and enabling a robust global recovery.The World Bank Group works in every major area of development.
Latest official GDP figures published by the World Bank. Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. The baseline projection rests on key assumptions about the fallout from the pandemic. For all the hundreds, and really thousands, of years before 1870, the average GDP per capita was even lower.