A conventional way to describe an economy is to analyze the key economic indicators, such as the Gross Domestic Product (GDP), exports, imports, and so on. The global GDP amounts to more than 140 trillion international dollars, of which 20 trillion international dollars are generated by the United States. As the world's economic leader, the United States shapes global trade, and for more than a century, the U.S. has been the country with the largest GDP, the world's leading importer, and the second leading exporter in the world, after China. In 2010, China overtook Japan as the world's second largest economy, as a result of an incredibly fast climb to the top.
A particular focus has been dedicated to the impact of COVID-19 on the global economy, with data showing regional and global overviews. The global economy has been hard hit by the coronavirus pandemic. Since the outbreak of COVID-19, different estimates on the GDP growth based on different scenarios have been released. Recent data depict a negative growth during the past year for all major global economies, with the exception of China.
Overview of global economyBy 2024, the ranking of the world's largest economy might look different than today. According to recent estimations, China will be the largest economy in the world, overtaking the United States earlier than previously forecasted. Germany and France will lose economic power, but still remain among the ten leading global players. Eventually, Italy will no longer be among economic giants, and a new name could appear in the top ten: Indonesia.
China's Economic OutlookThe branch Economy provides key economic indicators of more than 150 countries worldwide. Among others, this includes data on GDP, industrial production, consumer prices, exports and imports, as well as business enterprises. Moreover, a wide range of data on employment covers different factors such as hourly earnings, average wages, economic inactivity, and jobs.
Mon - Fri, 9am - 6pm (EST)
Mon - Fri, 11:30am - 10pm (IST)
Mon - Fri, 9:30am - 5:30pm (JST)
Mon - Fri, 9:30am - 5pm (GMT)
Mon - Fri, 9am - 6pm (EST)
