world economic outlook wikipedia
The Global Economic Prospects (GEP) is the World Bank’s semi-annual flagship publication on the state of the world economy. World Economic Outlook Reports. October 13, 2020. – Definition. A developing country is a country with a less developed industrial base (industries) and a low Human Development Index (HDI) relative to other countries. ), Yearly electricity – consumption: 14,280,000 GWh (2003 est. Brazil is the 83rd country in the world in GDP per capita, with a value of US$6,450 per inhabitant. According to Maddison, until the middle of 19th century, global output was dominated by China and India. 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. Fears of a U.S.-Iran war gave way to the coronavirus pandemic which JPMorgan reckons will have pushed the world economy into a 12% contraction over January to March. Bureau of Economic Analysis. Among these agencies include the USCS (US DoC) and FAS (USDA) in the United States, the EDC and AAFC in Canada, Ubifrance in France, the UKTI in the United Kingdom, the HKTDC and JETRO in Asia, Austrade and the NZTE in Oceania. Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests. One example for a comparable metric other than GDP are the OECD Better Life Index rankings for different aggregative domains. N.p., n.d. The world economy or global economy is the economy of all humans of the world, referring to the global economic system that includes all economic activity within nations and between nations, including production, consumption, economic management, exchange of financial values and trade of goods and services. >10.0% 8.0–9.9% 02 Jan. 2015. A comparison of microplastic capture with nets of different mesh-size", "A new – 4th order cybernetics and sustainable future", US Bureau of Labor and Statistics, Major Economic Indicators, World Bank Summary Trade Statistics for World, https://en.wikipedia.org/w/index.php?title=World_economy&oldid=992415812, Articles containing potentially dated statements from March 2020, All articles containing potentially dated statements, Articles to be expanded from September 2020, Articles with disputed statements from December 2016, Creative Commons Attribution-ShareAlike License. Global Financial Stability Report. In its latest World Economic Outlook report, the International Monetary Fund also said the swift recovery in China has surprised on the upside while the global economy's long ascent back to pre-pandemic levels of activity remains prone to setbacks. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time. October 7, 2020. See also, the World Economic Outlook Reports. It is common to limit questions of the world economy exclusively to human economic activity and the world economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research, genuine data or government cooperation makes establishing figures difficult. Join us in January as we host Marcus Noland (PhD) for a broad discussion of global economic trends and the international financial outlook for 2020. It presents IMF staff economists' analyses of global economic developments during the … Captions. Chapter I: Global economic outlook: Prospects for the world economy in 2020 and 2021 (4 mb) Chapter II: Macroeconomic prospects and the 2030 Agenda: economics of energy transition (2 mb) October 14, 2020. From the scientific perspective, economic activities are embedded in a web of dynamic, interrelated, and interdependent activities that constitute the natural system of Earth. English: Map of the projected real GDP growth rate in 2020 of counties in the International Monetary Fund's World Economic Outlook (24 June 2020). The IMF publishes a range of time series data on IMF lending, exchange rates and other economic and financial indicators. The organization released its semi-annual economic outlook report on Wednesday, noting that even a short-lived outbreak would drag the world into a 3% GDP contraction. According to International Monetary Fund (IMF), Brazil's 2020 nominal GDP was R$7.348 trillion or US$1.363 trillion. According to the report, Rwanda Economic Update: Lighting … Captions. This is a group of countries that are expected to improve their GDP from 4.8% in 2017 to 5.4% in 2018. Developing Countries. The OECD also publishes Monthly Economic … It is the world's fifth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). Percent Change From Preceding Period in Real Gross Domestic Product,” Accessed Oct. 12, 2020. From the 1950s up to 2018, an estimated 6.3 billion tonnes of plastic has been produced worldwide, of which an estimated 9% has been recycled and another 12% has been incinerated with the rest reportedly being ", Number of human deaths caused annually by air pollution worldwide: ca. The World Economic Forum is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas. [26] In 2015, research and development constituted an average 2.2% of the global GDP according to the UNESCO Institute for Statistics. To promote exports, many government agencies publish on the web economic studies by sector and country. The economy of India is characterised as a middle income developing market economy. Congressional Budget Office. See also, the World Economic Outlook Reports. [27] Metrics and rankings of innovation include the Bloomberg Innovation Index, the Global Innovation Index and the share of Nobel laureates per capita. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. April World Economic Outlook projects global growth in 2020 to fall to -3 percent. If the file has been modified from its original state, some details may not fully reflect the modified file. Real GDP growth, after declining to 0.4% in 2019, is expected to recover to 1.6% in 2020, underpinned by mining, forestry, and agriculture. 62,500 tonnes. The World Economic Outlook (WEO) database is created during the biannual WEO exercise, which begins in January and June of each year and results in the April and September/October WEO publication. Open Finances. Global growth is projected at –4.9 percent in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. Kyrgyzstan (Kyrgyz: Кыргызстан), formally the Kyrgyz Republic, and sometimes known as Kirghizia, is a country in Central Asia.The country is landlocked (has no coast) and mountainous.It has borders with China, Kazakhstan, Tajikistan, and Uzbekistan.Its capital is Bishkek.It was a socialist republic of the Soviet Union, but became independent in 1991. Japan’s trade balance is supporting the economy as consumer and business spending struggles to rebound strongly. In 2017, global economic growth reached 3 per cent—the highest growth rate since 2011—and growth is expected to remain steady for the coming year. The Fund’s statistics include some widely used databases in the academic arena, namely, Balance of Payments and International Investment Position (IIP) Statistics, External Debt Statistics, Government Finance Statistics, International Financial Statistics (IFS) Online Service, World Economic Outlook Databases, etc. World economy in deep recession in 2020, growth to be -4.4 per cent: IMF 13 Oct, 2020, 10.24 PM IST. 2012 2013 World 3.1 2.7 3.6 3.9 OECD 1.6 1.2 2.3 2.7 Non-OECD 5.1 4.8 5.3 5.4 United States 2.8 1.7 2.9 3.4 The ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term.” Manuals, guides, and other material on statistical practices at the IMF, in member countries, and of the statistical community at large are also available. The World Economic Outlook (WEO) is a report by the International Monetary Fund that analyzes key parts of the IMF's surveillance of economic developments and policies in … Most commonly, the criteria for evaluating the degree of economic development are gross domestic product (GDP), gross national product (GNP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. Least developed countries. 7 million, Estimated global annual cost of air pollution: $5 trillion, Estimated accumulated number of microplastic particles in the North Atlantic Ocean in 2014: 15 to 51 trillion particles, weighing between 93,000 and 236,000 metric tons, Estimated accumulated number of microplastic particles in the North Atlantic Ocean in 2020: 3700 microplastics per cubic meter, Education: education and what one gets out of it. Incorporated as a not-for-profit foundation in 1971, and headquartered in Geneva, Switzerland, the Forum is tied to no political, partisan or national interests. As the health and human toll grows, the economic damage is already evident and represents the largest economic shock the world has experienced in decades. However, even in cases in which there is a clear and efficient market to establish a monetary value, economists do not typically use the current or official exchange rate to translate the monetary units of this market into a single unit for the world economy since exchange rates typically do not closely reflect worldwide value, for example in cases where the volume or price of transactions is closely regulated by the government. Original file (SVG file, nominally 2,754 × 1,398 pixels, file size: 1.12 MB), https://creativecommons.org/licenses/by-sa/4.0 ), 13,930,000 GWh (2001 est. Explore raw data about the World Bank Group’s finances, including disbursements and management of global funds. Waves of Industrial Revolution in Western Europe and Northern America shifted the shares to the Western Hemisphere. Commons is a freely licensed media file repository. KIGALI, June 25, 2019 - Rwanda’s economy expanded at 8.6 percent in 2018 and headline inflation remained low at 1.2 percent as of March 2019, says the new World Bank Rwanda Economic Update released today.The report forecasts favorable economic outlook with growth expected to be in the range of 7.5 to 8 percent annually. Summary [] 301 Moved Permanently . These conditions should translate into a growth rate of about 1.7% for the Canadian economy in 2020. Macroeconomic performance and outlook The Liberian economy has faced uncertainty in the past two years due to declining mining exports and rising inflation and currency depreciation. A developed country, industrialized country, more developed country (MDC), or more economically developed country (MEDC), is a sovereign state that has a developed economy and advanced technological infrastructure relative to other less industrialized nations. Global Financial Stability Report: Bridge to Recovery. >10.0% 8.0–9.9% 6.0–7.9% 4.0–6.9% 2.0–3.9% 0.1–1.9% 0.0% oder keine Infos vorhanden −0. –IMF World Economic Outlook, April 2019. Economic outlook became more positive as the 2000s progressed. The Key Indicators for Asia and the Pacific publication presents data regarding the economic, financial, social, and environmental situations in a broad range of countries across the region. File:IMF World Economic Outlook April 2020.svg (file redirect) File:The Great Lockdown economic retraction map.png; File usage on other wikis. "World Economy." The baseline forecast envisions a 5.2 percent contraction in global GDP in 2020—the … The main version is in English, and it is also published in French and German. [1][2] In some contexts, the two terms are distinct "international" or "global economy" being measured separately and distinguished from national economies while the "world economy" is simply an aggregate of the separate countries' measurements. Developed Economies. The GDP of the developed countries is predicted to fall from 2.2% in 2017 to 2.0% 2018 due to the fall of dollar value. COVID-19 has delivered an enormous global shock, leading to steep recessions in many countries. Content is available under CC BY-SA 3.0 unless otherwise noted. Few will regret the end of the first 2020 quarter. Advanced Economies: Unemployment, Employment, and Real GDP per Capita, World Economic Outlook Database, April 2018; Last edited on 2 December 2020, at 19:19. GDP – per capita: purchasing power parity – $9,300, €7,500 (2005 est. The world economy has strengthened as lingering In a nutshell, the outlook for the global economy has darkened, amid slowing activity and heightened downside risks. World 2.6% (2017), 2.8% (predicted 2018); Industrial production growth rate: 3% (2002 est. World Development Indicators. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. The economic collapse that has started in 2020 has been brutal for most of the nation, but it has hit children particularly hard. This is a crisis like no other, and there is substantial uncertainty about its impact on people’s lives and livelihoods. Canada's economic outlook for 2020 is improving slightly as a result of growth in the real estate market, residential investment and household consumption, although a number of factors that contributed to the 2019 slowdown remain. A nation's GDP per capita, compared with other nations, can also be a reference point. Since May 2014, Canada created more than 1 million jobs, an increase of almost 7%, with over 88% of those being full-time positions. In general the world economy has recovered and prospered since the Global Financial Crisis of 2007-2008, but there are growing warnings that the bubble might at least slow down. It is unclear, for example, how many of the world's 7.8 billion people (as of March 2020[update])[3][4] have most of their economic activity reflected in these valuations. The World Economic Outlook (WEO) is a report by the International Monetary Fund that analyzes key parts of the IMF's surveillance of economic … Add a one-line explanation of what this file represents. Foreword David Malpass, WBG President Policy Research Working Papers Download working papers on major macroeconomic policy issues. This goes beyond the immediate crisis response, providing insights on the … Britain’s economy is likely to suffer the worst damage from the Covid-19 crisis of any country in the developed world, according to a report by the Organisation for Economic … –Statistics Canada, June 2019. The June 2020 Global Economic Prospects looks beyond the near-term outlook to what may be lingering repercussions of the deep global recession: setbacks to potential output—the level of output an economy can achieve at full capacity and full employment—and labor productivity. CC BY-SA 4.0 Fiscal Monitor Reports. Global Outlook. The World Economic Forum's COVID-19 Risks Outlook report, A Preliminary Mapping and its Implications, published on 19 May and informed by the views of nearly 350 senior risk professionals, identifies the main emerging concerns and fallouts, and analyses the pandemic's implications and effects. Content is available under CC BY-SA 3.0 unless otherwise noted. American English Definition of with Pronunciation by Macmillan Dictionary. The Global Economic Prospects (GEP) is the World Bank’s semi-annual flagship publication on the state of the world economy. The World Economic Outlook (WEO) database is created during the biannual WEO exercise, which begins in January and June of each year and results in the April and September/October WEO publication. The International Monetary Fund (IMF) has said the coronavirus pandemic had instigated a global economic downturn the likes of which the world has not experienced since the Great Depression. in the previous year. Inflation rate (consumer prices); In economics, inflation is a general rise in the price level in an economy over a period of time, resulting in a sustained drop in the purchasing power of money. Fiscal Monitor: Policies for the Recovery. [5], Telephones – main lines in use: 843,923,500 (2007)4,263,367,600 (2008). The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in its resolution 2768 (XXVI) of 18 November 1971. Advanced Economies: Unemployment, Employment, and Real GDP per Capita, World Economic Outlook Database, April 2018; Last edited on 2 December 2020, at 19:19. There is also no clear agreement on which countries fit this category. Tho its population is anly 4.3% o the warld tot, the Unitit States accoonts for nearly a quarter o warld GDP an ower a third o global militar spendin, makkin it the warld's foremaist economic an militar pouer. The least developed countries (LDCs) is a list of developing countries that, according to the United Nations, exhibit the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. While the U.S. economy is considered post-industrial, chairacterised bi the dominance o services an knawledge economy, the manufacturin sector remains the seicont-mucklest in the warld. As of 2020, the following 15 countries or collectives have reached an economy of at least US$2 trillion by GDP in nominal or PPP terms: India, Brazil, France, Germany, China, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Turkey, the United Kingdom, the United States and the European Union. The remaining 173 countries together constitute less than one-fourth to the world's economy. For more information about the Economic Outlook as well as OECD work on policy responses to pandemic, visit the online hub on Covid-19. That view is supported by the latest figures from the European Commission, which has forecast that the GDP of EU countries will contract by 7.5% in 2020. Source: OECD Economic Outlook database 94. "An Update to the Economic Outlook: 2020 to 2030." Real GDP growth and world trade growth (the arithmetic average of world merchandise import and export volumes) are seasonally and working-day adjusted annualised rates. ), Oil – consumption: 80,100,000 bbl/d (12,730,000 m, Oil – proved reserves: 1.025 trillion barrel (163 km, Natural gas – proved reserves: 161,200 km, Yearly exports: $12.4 trillion, €11.05 trillion (2009 est. >10.0% 8.0–9.9% Kapital: Tegucigalpa {{{latd}}}°{{{latm}}}′ {{{latNS}}} {{{longd}}}°{{{longm}}}′ {{{longEW}}} Kinadak-ang dakbayan: Tegucigalpa Opisyal nga (mga) pinulongan Are available in a database format David Malpass, WBG President policy Research Working Papers on major macroeconomic policy.. Main lines in use: 843,923,500 ( 2007 ) 4,263,367,600 ( 2008 ) has. 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