Economy - overview:
In 2011, world output - and per capita income - continued to recover from the 2008-09 recession, the first global downturn since 1946. Gross World Product (GWP) grew 3.7%, a slowdown from the 5.0% rate achieved in 2010. Growth was unevenly distributed: lower income countries - those with per capita incomes below $30,000 per year - averaged 4.1% growth, while higher income countries - with per capita incomes above $30,000 - averaged 2.2% growth. Among large economies, China (+9.5%), Argentina (+8.0%), India (+7.8%), Nigeria (+6.9%), and Turkey (+6.6%) recorded the biggest GDP gains - although all were off the pace they set in 2010. Continuing uncertainties in financial markets slowed growth in Spain (+0.8%), Italy (+0.6%), and Greece (-6.0%), while the tsunami and Fukushima nuclear disaster hit Japan (-0.5%). Growth fell below 2% in both the US and the European Union, in part because of growing concern among consumers and investors about the size of government debt and its impact on the direction of fiscal policy. In 2011, global unemployment continued to creep upwards, reaching 9.1% - underemployment, especially in the developing world, remained much higher. Global gross fixed investment was a bright spot, inching upward 1 percentage point to 24% of GWP, after a significant drop in 2009; direct investment across international borders climbed 7%. World trade grew 20% in 2011, but the pre-2009 pattern of surplus and deficit countries has returned. With the growth of international trade and investment, world external debt rose 7%, reversing a 5% decline in 2010. Many, if not most, countries pursued expansionary monetary and fiscal policies, although at a reduced pace from 2010. The global money supply, narrowly defined, rose 11%, and broadly defined money increased roughly 8%, as central banks continued efforts to keep interest rates low. The global budget deficit was narrowed to roughly $3 trillion - 4.2% of World GDP, as governments tried to rein in spending and slow the rise of public debt.
GDP (purchasing power parity):
$78.98 trillion (2011 est.)
note: data are in 2011 US dollars
[see also: GDP country ranks ]
GDP (official exchange rate):
GWP (gross world product): $63.17 trillion (2010)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
3.7% (2011)
[see also: GDP - real growth rate country ranks ]
GDP - per capita (PPP):
$11,800 (2011)
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 5.9%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 31.3%
[see also: GDP - composition by sector - industry country ranks ]
services: 62.8% (2010 est.)
[see also: GDP - composition by sector - services country ranks ]
Labor force:
3.262 billion (2010 est.)
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 36.6%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 21.4%
[see also: Labor force - by occupation - industry country ranks ]
services: 41.9% (2006)
[see also: Labor force - by occupation - services country ranks ]
Unemployment rate:
9.1% (2010 est.)
note: 30% combined unemployment and underemployment in many non-industrialized countries; developed countries typically 4%-12% unemployment (2007 est.)
[see also: Unemployment rate country ranks ]
Household income or consumption by percentage share:
lowest 10%: 2.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 27.7% (2007 est.)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
Investment (gross fixed):
24% of GDP (2011 est.)
[see also: Investment (gross fixed) country ranks ]
Taxes and other revenues:
29% of GDP (2011 est.)
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
-4.2% of GDP (2011 est.)
[see also: Budget surplus (+) or deficit (-) country ranks ]
Public debt:
59.9% of GDP (2011 est.)
[see also: Public debt country ranks ]
Inflation rate (consumer prices):
developed countries 2.5%
note: developed countries 0% to 4% typically; developing countries 5% to 10% typically; national inflation rates vary widely in individual cases; inflation rates have declined for most countries for the last several years, held in check by increasing international competition from several low wage countries, and by soft demand as a result of the world financial crisis (2010 est.)
[see also: Inflation rate (consumer prices) country ranks ]
Stock of narrow money:
$26.58 trillion (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]
Stock of broad money:
$81.29 trillion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]
Stock of domestic credit:
$109.6 trillion (31 December 2011 est.)
[see also: Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$56.66 trillion (31 December 2010 est.)
[see also: Market value of publicly traded shares country ranks ]
Industries:
dominated by the onrush of technology, especially in computers, robotics, telecommunications, and medicines and medical equipment; most of these advances take place in OECD nations; only a small portion of non-OECD countries have succeeded in rapidly adjusting to these technological forces; the accelerated development of new industrial (and agricultural) technology is complicating already grim environmental problems
Industrial production growth rate:
4.2% (2011 est.)
[see also: Industrial production growth rate country ranks ]
Electricity - production:
19.27 trillion kWh (2008 est.)
[see also: Electricity - production country ranks ]
Electricity - consumption:
17.82 trillion kWh (2008 est.)
[see also: Electricity - consumption country ranks ]
Electricity - exports:
566.8 billion kWh (2009 est.)
[see also: Electricity - exports country ranks ]
Electricity - imports:
535.6 billion kWh (2009 est.)
[see also: Electricity - imports country ranks ]
Oil - production:
87.07 million bbl/day (2010 est.)
[see also: Oil - production country ranks ]
Oil - consumption:
86.09 million bbl/day (2010 est.)
[see also: Oil - consumption country ranks ]
Oil - exports:
61.96 million bbl/day (2009 est.)
[see also: Oil - exports country ranks ]
Oil - imports:
62.66 million bbl/day (2009 est.)
[see also: Oil - imports country ranks ]
Natural gas - production:
3.168 trillion cu m (2009 est.)
[see also: Natural gas - production country ranks ]
Natural gas - consumption:
3.154 trillion cu m (2009 est.)
[see also: Natural gas - consumption country ranks ]
Natural gas - exports:
967.6 billion cu m (2009 est.)
[see also: Natural gas - exports country ranks ]
Natural gas - imports:
990.6 billion cu m (2009 est.)
[see also: Natural gas - imports country ranks ]
Natural gas - proved reserves:
184.3 trillion cu m (1 January 2011 est.)
[see also: Natural gas - proved reserves country ranks ]
Exports:
$18.15 trillion (2011 est.)
[see also: Exports country ranks ]
Exports - commodities:
the whole range of industrial and agricultural goods and services
top ten - share of world trade: electrical machinery, including computers 14.8%; mineral fuels, including oil, coal, gas, and refined products 14.4%; nuclear reactors, boilers, and parts 14.2%; cars, trucks, and buses 8.9%; scientific and precision instruments 3.5%; plastics 3.4%; iron and steel 2.7%; organic chemicals 2.6%; pharmaceutical products 2.6%; diamonds, pearls, and precious stones 1.9%
Imports:
$17.99 trillion (2011 est.)
[see also: Imports country ranks ]
Imports - commodities:
the whole range of industrial and agricultural goods and services
top ten - share of world trade: see listing for exports
Debt - external:
$68.75 trillion (31 December 2011 est.)
note: this figure is the sum total of all countries' external debt, both public and private
[see also: Debt - external country ranks ]
Stock of direct foreign investment - at home:
$19.11 trillion (31 December 2011)
[see also: Stock of direct foreign investment - at home country ranks ]
Stock of direct foreign investment - abroad:
$19.91 trillion (31 December 2011)
[see also: Stock of direct foreign investment - abroad country ranks ]
NOTE: 1) The information regarding World on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of World Economy 2012 information contained here. All suggestions for corrections of any errors about World Economy 2012 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 07-Mar-12