Gross domestic product

World GDP growth accelerated from 2.4% in 2016 to 3.1% in 2017
Growth in developing economies of Asia and Oceania 5.6%
GDP growth rate in LDCs (4.4%) below 2030 Agenda target of 7%
The richest 20% account for two thirds of world GDP
Gross domestic product per capita, 2017 (United States dollars)
Economies

    Upswing in the global economy

    In 2017, world GDP grew at a rate of 3.1 per cent, 0.7 percentage points more than in 2016. This was the first time since 2011 that the growth rate exceeded 3 per cent. In 2018, the GDP growth rate is nowcast to moderate slightly to 3.0 per cent.

    Large differences in GDP per capita persist throughout the world. In 2017, most developed economies produced an output per person greater than US$30 000, with Eastern Europe as the main exception. By contrast, many developing economies in Western and Eastern Africa, in Western and Southern Asia, all primarily LDCs, recorded a per capita output of less than US$1 000. Developing economies in America, Northern and Southern Africa, in Western and Eastern Asia and Oceania mostly achieved output above US$3 000 per person.

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

    Note: At constant 2010 United States dollars. The shaded area indicates UNCTAD nowcasts. For the methodology, see Calculation methods page.

    Disparities in growth across groups of economies

    Not all regions of the world recorded equally high economic growth in 2017. Developing economies of Asia and Oceania recorded a rate of 5.6 per cent, whereas the developing economies of America reached only 1.2 per cent. In developed and transition economies, GDP increased at modest rates, 2.3 and 2.1 per cent, respectively.

    GDP growth in LDCs was 4.4 per cent, remaining well below the 7 per cent target set by the 2030 Agenda for Sustainable Development. Output per capita increased by only 2.0 per cent, due in part to high population growth.

    Figure 2Growth of real GDP by group of economies, 2017 (Percentage)

    Note: At constant 2010 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 2007, the poorest economies accounting for 80 per cent of the world’s population contributed 22 per cent to world GDP. By 2017, their share of GDP rose to 32 per cent. Between 2012 and 2017, 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, 2017 (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)

    2017

    2017

    2012-2017

    2017

    2012-2017

    2017

    World

    80 439

    10 656

    2.7

    3.1

    1.6

    2.0

    Developing economies

    31 918

    5 159

    4.3

    4.5

    3.0

    3.1

    Developing economies: Africa

    2 241

    1 787

    2.9

    3.0

    0.3

    0.4

    Developing economies: America

    5 966

    9 312

    0.3

    1.2

    -0.8

    0.1

    Developing economies: Asia and Oceania

    23 710

    5 525

    5.7

    5.6

    4.7

    4.5

    Transition economies

    2 132

    6 941

    0.3

    2.1

    0.0

    1.8

    Developed economies

    46 389

    43 956

    1.9

    2.3

    1.6

    2.0

    Selected groups

    Developing economies excluding China

    19 902

    4 166

    3.0

    3.3

    1.4

    1.7

    Developing economies excluding LDCs

    30 836

    5 950

    4.3

    4.5

    3.2

    3.4

    LDCs

    1 071

    1 069

    4.6

    4.4

    2.1

    2.0

    LLDCs

    721

    1 431

    4.4

    4.3

    1.9

    1.9

    SIDS (UNCTAD)

    96

    7 557

    1.0

    1.0

    0.0

    0.0

    HIPCs (IMF)

    604

    857

    5.3

    5.1

    2.4

    2.3

    BRICS

    18 513

    5 861

    4.9

    5.3

    4.1

    4.5

    G20

    69 093

    14 428

    2.7

    3.2

    2.0

    2.5

    a
    At constant 2010 United States dollars.
    Find the data on UNCTADstat
    Table 2

    Nominal gross domestic product by type of expenditure, 2016

    (Percentage)

    Group of economies

    Final consumption

    Gross capital formation

    Net exports

    of goods

    and services

    Householdsa

    Governmentb

    World

    57.7

    16.5

    25.2

    0.7

    Developing economies

    52.2

    14.6

    32.3

    0.9

    Developing economies: Africa

    68.9

    14.5

    22.9

    -6.7

    Developing economies: America

    67.1

    16.5

    19.0

    -2.8

    Developing economies: Asia and Oceania

    47.1

    14.1

    36.3

    2.5

    Transition economies

    54.9

    17.9

    23.7

    3.2

    Developed economies

    61.3

    17.6

    20.6

    0.4

    Selected groups

    Developing economies excluding China

    60.2

    14.7

    25.0

    0.0

    Developing economies excluding LDCs

    51.6

    14.7

    32.5

    1.2

    LDCs

    69.9

    10.8

    27.7

    -9.6

    LLDCs

    61.7

    13.5

    27.7

    -5.0

    SIDS (UNCTAD)

    73.6

    16.8

    18.7

    -9.9

    HIPCs (IMF)

    71.5

    13.2

    25.6

    -12.2

    BRICS

    45.9

    15.1

    37.2

    1.7

    G20

    57.2

    16.7

    25.4

    0.7

    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

    2006

    3.4

    29.6

    67.0

    2016

    4.4

    28.1

    67.5

    Developing economies

    2006

    8.8

    39.3

    51.9

    2016

    9.0

    35.2

    55.9

    Developing economies: Africa

    2006

    14.8

    35.1

    50.1

    2016

    16.5

    28.6

    54.9

    Developing economies: America

    2006

    5.2

    33.8

    61.0

    2016

    5.6

    28.7

    65.7

    Developing economies: Asia and Oceania

    2006

    9.2

    41.9

    48.9

    2016

    9.0

    37.2

    53.9

    Transition economies

    2006

    6.2

    37.2

    56.6

    2016

    6.5

    32.8

    60.7

    Developed economies

    2006

    1.3

    25.9

    72.8

    2016

    1.3

    23.2

    75.5

    Selected groups

    Developing economies excluding China

    2006

    8.2

    36.9

    54.9

    2016

    9.0

    31.9

    59.0

    Developing economies excluding LDCs

    2006

    8.4

    39.5

    52.1

    2016

    8.5

    35.3

    56.1

    LDCs

    2006

    23.6

    29.9

    46.4

    2016

    22.0

    29.4

    48.6

    LLDCs

    2006

    18.1

    35.5

    46.4

    2016

    17.1

    31.1

    51.8

    SIDS (UNCTAD)

    2006

    4.5

    33.3

    62.2

    2016

    5.2

    24.6

    70.2

    HIPCs (IMF)

    2006

    25.3

    26.7

    48.0

    2016

    24.4

    26.8

    48.8

    BRICS

    2006

    9.9

    40.0

    50.2

    2016

    9.2

    36.4

    54.4

    G20

    2006

    2.7

    28.6

    68.7

    2016

    3.7

    27.6

    68.7

    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)

    2017

    2012-2017

    2017

    2017

    1st quintile

    1 148

    3.1

    3.2

    2.2

    2nd quintile

    1 931

    4.6

    3.8

    3.6

    3rd quintile

    5 260

    3.5

    3.4

    9.9

    4th quintile

    8 806

    3.9

    4.6

    16.5

    5th quintile

    36 133

    1.3

    1.8

    67.8

    TOTAL

    10 656

    1.6

    2.0

    100.0

    a
    At constant 2010 United States dollars.
    b
    With respect to nominal GDP per capita in 2017, assigned in equal amount to people within economies.
    Find the data on UNCTADstat