Gross domestic product

World GDP still growing slowly: 2.2 per cent
Growth in LDCs GDP (4.0 per cent) remains below the 2030 Agenda target of 7 per cent.
Output in transition economies stagnant.
The richest 20 per cent account for two thirds of world GDP.
Gross domestic product per capita, 2016 (United States dollars)

Gross domestic product growth remaining sluggish

In 2016, world GDP growth remained slow. Since 2011, it has grown at an average annual rate of 2.4 per cent, much lower than the average of 3.3 per cent in the decade prior to the financial crisis. In 2016, the growth rate of world GDP dropped to 2.2 per cent, falling back to 2012 levels.

Large differences in GDP per capita persist throughout the world. In 2016, most developed economies produced an output per person greater than US$30 000 , with the main exceptions in Eastern Europe. By contrast, many developing economies in Western and Eastern Africa and in South-Eastern Asia, primarily least developed economies, had less than US$1 000 per person to spend. Developing economies in America, Northern and Southern Africa and in Western and Eastern Asia mostly achieved output levels above US$3 000 per capita.

Figure 1 World real gross domestic product annual growth rate (Percentage)

Note: At constant 2005 United States dollars.

Disparities in growth across groups of economies

In 2016, developing economies grew by 3.7 per cent. However, there were considerable regional variations. In developing America economic output contracted slightly, while developing Asia and Oceania achieved GDP growth of 5 per cent. GDP growth in LDCs was 4 per cent – well below the 2030 Agenda for Sustainable Development target of 7 per cent growth.

GDP in transition economies remained almost constant. Developed economies increased their output by a moderate 1.6 per cent – the same annual rate as the last five years on average.

Figure 2Growth of real GDP by group of economies, 2016 (Percentage)

Note: At constant 2005 United States dollars.

World inequality decreasing

Over the last 10 years, the global distribution of GDP per capita has become more equal. For example, in 2006, the poorest economies accounting for 80 per cent of the world’s population contributed 20 per cent to world GDP. By 2016, their share in GDP rose to 32 per cent. Between 2011 and 2016, however, inequalities in GDP per capita reduced mainly among economies with moderately high income. The relative distance between the richest and poorest economies in the world remained almost unchanged.

Figure 3Distribution of world gross domestic product, 2016 (Percentage)

Note: Lorenz curves, as in this graph, reveal the structure of inequality. Inequality is greater the further the curve runs below the diagonal line (see Calculation methods page). Inequality within economies is not considered.

Summary tables

Table 1

Gross domestic product and gross domestic product per capita

Group of economies

Value

Annual growth rate

Nominal GDP

Nominal GDP
per capita

Real GDPa

Real GDPa per capita

(Billions of US$)

(US$)

(Percentage)

(Percentage)

2016

2016

2011-2016

2016

2011 -2016

2016

World

76 349

10 227

2.4

2.2

1.2

1.1

Developing economies

30 243

4 952

4.3

3.7

2.9

2.3

Developing economies: Africa

2 238

1 829

3.3

1.7

0.6

-0.9

Developing economies: America

5 870

9 256

1.0

-0.5

-0.1

-1.6

Developing economies: Asia and Oceania

22 136

5 208

5.4

5.0

4.3

4.0

Transition economies

1 872

6 113

0.5

0.1

0.2

-0.2

Developed economies

44 234

42 063

1.6

1.6

1.3

1.3

Selected groups

Developing economies excluding China

18 861

4 009

3.1

2.4

1.4

0.8

Developing economies excluding LDCs

29 202

5 696

4.3

3.7

3.1

2.5

LDCs

1 041

1 061

4.8

4.0

2.3

1.6

LLDCs

733

1 489

5.5

2.7

2.6

0.4

SIDS (UNCTAD)

89

7 132

0.9

0.3

-0.2

-0.7

HIPCs (IMF)

551

803

5.9

4.5

3.0

1.7

BRICS

17 004

5 423

5.2

4.7

4.3

3.9

G20

59 002

13 057

2.5

2.2

1.6

1.5

a
At constant 2005 United States dollars.
Find the data on UNCTADstat
Table 2

Nominal gross domestic product by type of expenditure, 2015

(Percentage)

Group of economies

Final consumption

Gross capital formation

Net exports

of goods

and services

Householdsa

Governmentb

World

57.6

16.4

25.6

0.4

Developing economies

52.4

14.4

33.0

0.3

Developing economies: Africa

68.7

14.7

23.2

-6.9

Developing economies: America

69.0

16.6

21.8

-7.1

Developing economies: Asia and Oceania

46.6

13.8

36.8

2.9

Transition economies

55.3

17.6

21.3

5.4

Developed economies

61.2

17.7

20.9

0.2

Selected groups

Developing economies excluding China

61.3

14.8

25.4

-1.6

Developing economies excluding LDCs

51.8

14.5

33.2

0.7

LDCs

69.3

11.5

26.2

-9.8

LLDCs

60.7

13.4

28.9

-4.9

SIDS (UNCTAD)

64.6

17.4

17.3

0.5

HIPCs (IMF)

70.5

14.0

26.6

-12.2

BRICS

45.2

14.5

38.0

2.4

G20

57.4

16.3

26.2

0.1

a
Households including non-profit institutions serving households.
b
General government.
Find the data on UNCTADstat
Table 3

Nominal gross value added by economic activity

(Percentage)

Group of economies

Year

Agriculture

Industry

Services

World

2005

3.3

28.6

68.0

2015

4.4

28.4

67.2

Developing economies

2005

9.2

39.0

51.7

2015

9.0

36.2

54.8

Developing economies: Africa

2005

14.8

35.2

50.0

2015

16.0

30.0

54.0

Developing economies: America

2005

5.4

34.8

59.8

2015

5.4

29.9

64.7

Developing economies: Asia and Oceania

2005

9.7

41.1

49.1

2015

9.1

38.2

52.7

Transition economies

2005

7.0

37.5

55.6

2015

6.5

32.5

61.0

Developed economies

2005

1.4

25.1

73.5

2015

1.3

23.0

75.7

Selected groups

Developing economies excluding China

2005

8.5

36.8

54.7

2015

8.9

32.9

58.2

Developing economies excluding LDCs

2005

8.7

39.3

51.9

2015

8.6

36.3

55.1

LDCs

2005

24.7

30.7

44.6

2015

21.7

31.2

47.1

LLDCs

2005

19.9

33.1

47.0

2015

16.4

31.5

52.1

SIDS (UNCTAD)

2005

6.8

32.2

61.0

2015

7.6

27.9

64.5

HIPCs (IMF)

2005

26.7

25.8

47.5

2015

25.0

26.9

48.2

BRICS

2005

10.7

39.9

49.5

2015

9.3

37.1

53.6

G20

2005

2.8

27.6

69.6

2015

3.9

27.9

68.2

Table 4

World gross domestic product by quintile

World population quintileb

GDP per capita

Share in world

nominal GDP

Nominal value

Real annual growth ratea

(US$)

(Percentage)

(Percentage)

2016

2011-2016

2016

2016

1st quintile

1 088

3.1

3.2

2.1

2nd quintile

1 844

4.4

4.2

3.6

3rd quintile

5 063

1.9

2.0

9.9

4th quintile

8 204

4.5

3.9

16.0

5th quintile

34 935

1.1

1.0

68.3

TOTAL

10 227

1.1

1.1

100.0

a
At constant 2005 United States dollars.
b
With respect to nominal GDP per capita in 2016, assigned in equal amount to people within economies.
Find the data on UNCTADstat