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The Very Latest Economic Data

Global Growth Tracker

World Economics
3 June 2020
                        
Speed Read
  • The World Economy has grown for 59 out of the last 60 years for which annual data is available.
  • Only the Great Recession of 2008/2009 and the current Coronavirus episode have interrupted over half a century of growth.
  • Over the whole of the last 6 decades, annual real GDP growth has averaged 3.2%, and 1.6% in per capita terms.
  • Global Real GDP split by continent illustrates that the share of the world’s GDP in the Asian region grew considerably faster than all other continents, from 16.8% in 1960 to 48.3% in 2019.
  • The wealth of Europe and the Americas remains considerably higher compared with Asia and African continents.


The World Economy – Over Half a Century of Near Continuous Growth
The World Economy has grown for 59 out of the past 60 years, as shown by the year-on-year chart below. Only the Great Recession saw a slight dip in real global GDP, measured in Purchasing Power Parity (PPP) terms.

 

The chart and table 1 below illustrates world economic growth decade by decade over the past 58 years, in terms of real GDP and real GDP per capita. Over the whole of the last 5 decades, annual real GDP growth has averaged 3.2%, and 1.6% in per capita terms.

 

Table 1: Global Real GDP growth by decade
 

The chart below shows the percentage share of world’s real