World economy


The world economy or the global economy is the economy of all humans of the world, referring to the global economic system which includes all economic activities which are conducted both within and between nations, including production, consumption, economic management, work in general, exchange of financial values and trade of goods and services.[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. Beyond the minimum standard concerning value in production, use and exchange, the definitions, representations, models and valuations of the world economy vary widely. It is inseparable from the geography and ecology of planet Earth.

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. Typical examples are illegal drugs and other black market goods, which by any standard are a part of the world economy, but for which there is by definition no legal market of any kind.

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.

Rather, market valuations in a local currency are typically translated to a single monetary unit using the idea of purchasing power. This is the method used below, which is used for estimating worldwide economic activity in terms of real United States dollars or euros. However, the world economy can be evaluated and expressed in many more ways. It is unclear, for example, how many of the world's 7.8 billion people (as of March 2020)[3][4] have most of their economic activity reflected in these valuations.

According to Maddison, until the middle of 19th century, global output was dominated by China and India. Waves of Industrial Revolution in Western Europe and Northern America shifted the shares to the Western Hemisphere. As of 2021, the following 16 countries or collectives have reached an economy of at least US$2 trillion by GDP in nominal or PPP terms: Brazil, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Spain, Turkey, the United Kingdom, the United States and the European Union.[5][6]

Despite high levels of government investment, the World Bank predicted that the global economy would decrease by 5.2 percent in 2020. Cities account for 80% of global GDP, thus they would face the brunt of this decline.[7] [8][9]

Overview


World economy by country groups

country groups with individual countries designated by the IMF.[10] Members of the G-20 major economies are in bold.
List of country groups by GDP (nominal) at peak level as of 2021 in millions US$[11] List of country groups by GDP (PPP) at peak level as of 2021 in millions US$[11]
Country group GDP (nominal) Peak year Number of countries Members of G20 economies and/or largest in the group (mutually inclusive)
World 93,863,851 2021 195
Major advanced economies (G7) 42,425,389 2021 7  Canada
 France
 Germany
 Italy
 Japan
 United Kingdom
 United States
Emerging and developing Asia 23,204,013 2021 30  China
 India
 Indonesia
 Malaysia
 Philippines
 Thailand
 Vietnam
Other advanced economies
(advanced economies excluding the G7)
13,564,548 2021 32  Australia
 South Korea
 Netherlands
 Spain
  Switzerland
 Taiwan
Latin America and the Caribbean 6,060,768 2013 33  Argentina
 Brazil
 Colombia
 Mexico
 Venezuela
Emerging and developing Europe 4,573,263 2013 16  Poland
 Russia
 Turkey
Middle East and Central Asia 4,077,243 2019 32  Egypt
 Iran
 Pakistan
 Saudi Arabia
 United Arab Emirates
Sub-Saharan Africa 1,813,600 2021 45  Nigeria
 South Africa
Country group GDP (PPP) Peak year Number of countries Members of G20 economies and/or largest in the group (Mutually exclusive)
World 141,962,059 2021 195
Emerging and developing Asia 46,770,009 2021 30  China
 India
 Indonesia
 Malaysia
 Philippines
 Thailand
 Vietnam
Major advanced economies (G7) 44,000,957 2021 7  Canada
 France
 Germany
 Italy
 Japan
 United Kingdom
 United States
Other advanced economies
(advanced economies excluding the G7)
15,882,382 2021 32  Australia
 South Korea
 Netherlands
 Spain
  Switzerland
 Taiwan
Emerging and developing Europe 10,828,956 2019 16  Poland
 Russia
 Turkey
Latin America and the Caribbean 10,212,082 2019 33  Argentina
 Brazil
 Colombia
 Mexico
 Venezuela
Middle East and Central Asia 9,946,269 2021 32  Egypt
 Iran
 Pakistan
 Saudi Arabia
 United Arab Emirates
Sub-Saharan Africa 4,325,956 2021 45  Nigeria
 South Africa

Current world economic league table of largest economies in the world by GDP and share of global economic growth

The 25 largest economies by GDP (nominal), twenty largest economies by GDP (PPP) as of 2021. Members of the G-20 major economies are in bold.
List of the 25 largest economies
by GDP (nominal) at their peak level as of 2021 in millions US$
[12]
List of the 25 largest economies
by GDP (PPP) at their peak level as of 2021 in millions US$
[13]
List of the 25 economies by highest
GDP (nominal) per capita at their peak level as of 2021 in US$
List of the 25 economies by highest
GDP (PPP) per capita at their peak level as of 2021 in US$
RankCountryValue
(USD$)
Peak year
World93,863,8512021
1 United States22,675,2712021
 European Union19,226,2352008
2 China16,642,3182021
3 Japan6,272,3642012
4 Germany4,319,2862021
5 United Kingdom3,124,6502021
6 India 3,049,7042021
7 France2,938,2712021
8 Brazil2,614,0272011
9 Italy2,408,3922008
10 Russia2,288,4282013
11 Canada1,883,4872021
12 South Korea1,806,7072021
13 Spain1,631,6852008
14 Australia1,617,5432021
15 Mexico1,315,3562014
16 Indonesia1,158,7832021
17 Netherlands1,012,5982021
18 Turkey957,5042013
19  Switzerland824,7342021
20 Saudi Arabia804,9212021
21 Taiwan759,1042021
22 Iran682,8592021
23 Argentina643,8612017
24 Poland642,1212021
25 Sweden625,9482021
RankCountryValue
(USD$)
Peak year
World141,962,0592021
1 China26,656,7662021
 European Union22,825,2362019
2 United States22,675,2712021
3 India10,207,2902021
4 Japan5,585,7862021
5 Germany4,743,6732021
6 Russia4,328,1222021
7 Indonesia3,507,2392021
8 Brazil3,328,4592021
9 United Kingdom3,246,5372019
10 France3,231,9272021
11 Turkey2,749,5702021
12 Italy2,668,9562019
13 Mexico2,632,2862019
14 South Korea2,436,8722021
15 Spain2,007,0552019
16 Canada1,978,8162021
17 Saudi Arabia1,722,8622014
18 Australia1,415,5642021
19 Taiwan1,403,6632021
20 Poland1,363,7662021
21 Egypt1,346,2252021
22 Iran1,344,0862011
23 Thailand1,339,1702019
24 Vietnam1,148,0542021
25 Nigeria1,116,2552021
RankCountryValue
(USD$)
Peak year
1 Luxembourg131,7822021
2 Norway102,5772013
3 Qatar101,9332012
4  Switzerland94,6962021
5 Ireland94,5562021
6 Macau86,2982014
7 San Marino79,1102008
8 Iceland75,2602018
9 Australia68,4452012
10 United States68,3092021
11 Denmark67,2182021
12 Singapore66,6762018
13 Sweden60,8452013
14 Netherlands58,0152008
15 Finland54,3302021
16 Austria53,8592021
17 Canada52,7442012
18 Germany51,8602021
19 United Kingdom50,4672007
20 Belgium50,1032021
21 Japan49,1752012
22 Hong Kong49,0362021
23 Brunei47,7722012
24 Israel47,6022021
25 New Zealand47,4992021
RankCountryValue
(USD$)
Peak year
1 Qatar169,6982012
2 Macau145,9472013
3 Luxembourg122,7402021
4 United Arab Emirates110,1142004
5 Singapore102,7422021
6 Ireland99,2392021
7 Brunei88,3122012
8  Switzerland75,8802021
9 San Marino74,9422008
10 Kuwait72,7362012
11 Norway69,1712021
12 United States68,3092021
13 Hong Kong62,8392021
14 Denmark61,4782021
15 Netherlands60,4612021
16 Iceland60,4192019
17 Taiwan59,3982021
18 Austria58,6852019
19 Saudi Arabia57,2842012
20 Germany56,9562021
21 Sweden55,5662021
22 Australia54,8912021
23 Bahrain54,4892012
24 Belgium54,2652019
25 Finland51,8672021

Twenty largest economies in the world by nominal GDP

The following is a list of the twenty largest economies by nominal GDP at peak value as of the specific year according to the International Monetary Fund.[14]
Rank19801985199019952000200520102015202020252026
1 United States United States United States United States United States United States United States United States United States United States United States
2 Soviet Union Soviet Union Japan Japan Japan Japan China China China China China
3 Japan Japan Soviet Union Germany Germany Germany Japan Japan Japan Japan Japan
4 West Germany West Germany West Germany France United Kingdom United Kingdom Germany Germany Germany Germany Germany
5 France France France United Kingdom France China United Kingdom United Kingdom United Kingdom India India
6 United Kingdom United Kingdom United Kingdom Italy Italy France France France France United Kingdom United Kingdom
7 Italy Italy Italy Brazil China Italy Italy Brazil India France France
8 China Canada Canada China Brazil Canada Brazil Italy Brazil Brazil Brazil
9 Canada China Iran Spain Canada Spain Russia Russia Italy Italy Canada
10 Argentina Mexico Spain Canada Mexico South Korea India India Russia Canada Italy
Rank19801985199019952000200520102015202020252026
11 Spain India China Iran Spain Brazil Spain Canada Canada Russia Russia
12 Mexico Argentina Brazil South Korea South Korea Mexico Canada Spain South Korea South Korea South Korea
13 Netherlands Spain India Mexico Iran India Australia Australia Spain Australia Australia
14 India Brazil Australia Netherlands India Russia South Korea South Korea Australia Spain Spain
15 Saudi Arabia Australia Netherlands Australia Netherlands Australia Mexico Mexico Mexico Indonesia Indonesia
16 Australia Netherlands Mexico India Russia Netherlands Netherlands Turkey Indonesia Mexico Mexico
17 Brazil Saudi Arabia South Korea  Switzerland Australia Iran Turkey Netherlands Turkey Netherlands Turkey
18 Sweden Iran  Switzerland Russia  Switzerland Turkey Indonesia Indonesia Netherlands Turkey Netherlands
19 Belgium Sweden Sweden Argentina Argentina  Switzerland  Switzerland Saudi Arabia Saudi Arabia  Switzerland  Switzerland
20  Switzerland Belgium Argentina Belgium Taiwan Sweden Iran  Switzerland  Switzerland Taiwan Taiwan

Twenty largest economies in the world by GDP (PPP)

List of twenty largest economies by GDP based on purchasing power parity at peak value as of the specific year according to the International Monetary Fund and the CIA World Factbook.[15][16]
Rank19801985199019952000200520102015202020252026
1 United States United States United States United States United States United States United States United States China China China
2 Soviet Union Soviet Union Soviet Union Japan China China China China United States United States United States
3 Japan Japan Japan China Japan Japan India India India India India
4 West Germany West Germany West Germany Germany Germany India Japan Japan Japan Japan Japan
5 Italy Italy Italy Russia India Germany Germany Germany Germany Germany Germany
6 France France France India France Russia Russia Russia Russia Russia Russia
7 Brazil Brazil China Italy Italy France Brazil Brazil Indonesia Indonesia Indonesia
8 United Kingdom United Kingdom Brazil France Russia Brazil France United Kingdom Brazil Brazil Brazil
9 Saudi Arabia China United Kingdom Brazil Brazil United Kingdom United Kingdom France United Kingdom France France
10 Mexico India India United Kingdom United Kingdom Italy Italy Indonesia France United Kingdom United Kingdom
Rank19801985199019952000200520102015202020252026
11 India Mexico Mexico Mexico Mexico Mexico Indonesia Italy Italy Turkey Turkey
12 China Saudi Arabia Spain Indonesia Indonesia Indonesia Mexico Mexico Mexico Mexico Mexico
13 Spain Canada Canada Spain Spain Spain South Korea Turkey Turkey Italy Italy
14 Canada Spain Indonesia Saudi Arabia Canada Canada Spain South Korea South Korea South Korea South Korea
15 Iran Iran Saudi Arabia Canada Saudi Arabia South Korea Saudi Arabia Saudi Arabia Spain Spain Spain
16 Indonesia Indonesia Iran South Korea South Korea Saudi Arabia Canada Spain Canada Canada Canada
17 Argentina Turkey Turkey Turkey Turkey Turkey Iran Canada Saudi Arabia Saudi Arabia Saudi Arabia
18 Poland Australia Australia Iran Iran Iran Turkey Iran Australia Egypt Egypt
19 Netherlands Netherlands South Korea Australia Australia Australia Australia Australia Iran Poland Thailand
20 Turkey Argentina Netherlands Thailand Netherlands Thailand Taiwan Taiwan Thailand Thailand Poland

Statistical indicators


Finance

Countries by 2019 GDP (nominal) per capita[17]
Countries by total wealth (trillions USD), Credit Suisse
  • GDP (GWP) (gross world product): (purchasing power parity exchange rates) – $59.38 trillion (2005 est.), $51.48 trillion (2004), $23 trillion (2002). The GWP is the combined gross national income of all the countries in the world. When calculating the GWP, add GDP of all countries. Also, GWP shows that imports and exports are equal. Because imports and exports balance exactly when considering the whole world:,[18] this also equals the total global gross domestic product (GDP). According to the World Bank, the 2013 nominal GWP was approximately US$75.59 trillion. In 2017, according to the CIA's World Factbook, the GWP was around US$80.27 trillion in nominal terms and totaled approximately 127.8 trillion international dollars in terms of purchasing power parity (PPP). The per capita PPP GWP in 2017 was approximately Int$17,500 according to the World Factbook.
  • GDP (GWP) (gross world product):[19] (market exchange rates) – $60.69 trillion (2008). The market exchange rates have increased from the 1990 to 2008. The reason for this increase is the world advancement in terms of technology.
  • GDP[20] (real growth rate): The following part shows the GDP growth rate and the expected value after one year.
    • Developed Economies. 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. 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. Which criteria are to be used and which countries can be classified as being developed are subjects of debate. 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.
    • Developing Countries. A developing country is a country with a less developed industrial base (industries) and a low Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. A nation's GDP per capita, compared with other nations, can also be a reference point. In general, the United Nations accepts any country's claim of itself being "developing". The GDP of the developing countries is expected to rise from 4.3% in 2017 to 4.6% in 2018 due to political stability in those countries and advancement in technology.
    • Least developed countries. 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. 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. This is a group of countries that are expected to improve their GDP from 4.8% in 2017 to 5.4% in 2018. The predicted growth is associated advancement in technology and industrialization of those countries for the past decade.
  • GDP – per capita: purchasing power parity – $9,300, €7,500 (2005 est.), $8,200, €6,800 (92) (2003), $7,900, €5,000 (2002)
  • World median income: purchasing power parity $1,041, €950 (1993)[21]
  • GDP – composition by sector: agriculture: 4%; industry: 32%; services: 64% (2004 est.)
  • 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. 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 opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. 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. national inflation rates vary widely in individual cases, from declining prices in Japan to hyperinflation (In economics, hyperinflation is very high and typically accelerating inflation) in several Third World countries (2003):
  • Derivatives OTC outstanding notional amount: $601 trillion (Dec 2010) ()
  • Derivatives exchange traded outstanding notional amount: $82 trillion (June 2011) ()
  • Global debt issuance: $5.187 trillion, €3 trillion (2004), $4.938 trillion, €3.98 trillion (2003), $3.938 trillion (2002) (Thomson Financial League Tables)
  • Global equity issuance: $505 billion, €450 billion (2004), $388 billion. €320 billion (2003), $319 billion, €250 trillion (2002) (Thomson Financial League Tables)

Employment

World GDP per capita between 1500 and 2000 (log scale)
World GDP per capita between 1500 and 2003
GDP increase, 1990–1998 and 1990–2006, in major countries
  • Unemployment rate: 8.7% (2009 est.). 30% (2007 est.) combined unemployment and underemployment in many non-industrialized countries; developed countries typically 4%–12% unemployment.

Industries

  • Industrial production growth rate: 3% (2002 est.)

Energy

Global primary energy consumption, measured in terawatt-hours (TWh) per year
  • Yearly electricity – production: 21,080,878 GWh (2011 est.),[23] 15,850,000 GWh (2003 est.), 14,850,000 GWh (2001 est.)
  • Yearly electricity – consumption: 14,280,000 GWh (2003 est.), 13,930,000 GWh (2001 est.)
  • Oil – production: 79,650,000 bbl/d (12,663,000 m3/d) (2003 est.), 75,460,000 barrels per day (11,997,000 m3/d) (2001)
  • Oil – consumption: 80,100,000 bbl/d (12,730,000 m3/d) (2003 est.), 76,210,000 barrels per day (12,116,000 m3/d) (2001)
  • Oil – proved reserves: 1.025 trillion barrel (163 km3) (2001 est.)
  • Natural gas – production: 3,366 km3 (2012 est.),[24] 2,569 km3 (2001 est.)
  • Natural gas – consumption: 2,556 km3 (2001 est.)
  • Natural gas – proved reserves: 161,200 km3 (1 January 2002)

Cross-border

  • Yearly exports: $12.4 trillion, €11.05 trillion (2009 est.)
  • Exports – commodities: the whole range of industrial and agricultural goods and services
  • Exports – partners: US 12.7%, Germany 7.1%, China 6.2%, France 4.4%, Japan 4.2%, UK 4.1% (2008)
  • Yearly imports: $12.29 trillion, €10.95 trillion (2009 est.)
  • Imports – commodities: the whole range of industrial and agricultural goods and services
  • Imports – partners: China 10.3%, Germany 8.6%, US 8.1%, Japan 5% (2008)
  • Debt – external: $56.9 trillion, €40 trillion (31 December 2009 est.)

Gift economy

Communications

Telephones – main lines in use: 843,923,500 (2007)
4,263,367,600 (2008)

Transport

Transportation infrastructure worldwide includes:

Military

A pie chart showing global military expenditures by country for 2018, in US$ billions, according to SIPRI.
  • World military expenditure in 2018: estimated to $1.822 trillion[29]
  • Military expenditures – percent of GDP: roughly 2% of gross world product (1999).

Science, research and development

Number of scientific or technical journal article publications per million residents as of 2013.

The Royal Society in a 2011 report stated that in terms of number of papers the share of English-language scientific research papers the United States was first followed by China, the UK, Germany, Japan, France, and Canada.[30] In 2015, research and development constituted an average 2.2% of the global GDP according to the UNESCO Institute for Statistics.[31] Metrics and rankings of innovation include the Bloomberg Innovation Index, the Global Innovation Index and the share of Nobel laureates per capita.

Resources and environment

Shown is how the global material footprint and global CO2 emissions from fossil-fuel combustion and industrial processes changed compared with global GDP.[32]
Deforestation (net loss) of tropical rainforest and woodland over time, 1750-2004
  • Forests (carbon sinks, wood, ecosystem services, ...)
    • Estimated number of trees that are net lost annually as of 2021: 10 billion[33][34]
    • Global annual deforested land in 2015–2020: 10 million hectares
    • Global annual net forest area loss in 2000–2010 : 4.7 million hectares[35]
  • Other land degradation and land- and organisms-related ecosystem disturbances
    • Soils (carbon sink, ecosystem services, food production, ...)
      • Soil erosion by water in 2012: almost 36 billion tons (based on a high resolution global potential soil erosion model developed in 2017)[36]
      • Estimated annual loss of agricultural productivity due to soil erosion: 8 billion US dollars (based on the soil erosion data)[37]
      • Soil erosion by water in 2015: approximately 43 billion tons (according to a 2020 study)[38]
      • Environmental impact of pesticides
        • Pesticide use in tonnes of active ingredient in Australia in 2016: ca. 62,500 tonnes[39]
  • Oceans (ecosystem services, food production, ...): Blue economy
  • Waste and pollution (effects of economic mechanisms, effects on ecosystem services)
    • As of 2018, about 380 million tonnes of plastic is produced worldwide each year. 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 "dumped in landfills or the natural environment".[40]
    • Air pollution
      • Number of human deaths caused annually by air pollution worldwide: ca. 7 million[41][42][43]
      • Estimated global annual cost of air pollution: $5 trillion[44][45][46]
    • Microplastic pollution
      • 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[47]
      • Estimated accumulated number of microplastic particles in the North Atlantic Ocean in 2020: 3700 microplastics per cubic meter[47]

From the scientific perspective, economic activities are embedded in a web of dynamic, interrelated, and interdependent activities that constitute the natural system of Earth. Novel application of cybernetics in decision-making (such as in decision-making related to process- and product-design and related laws) and direction of human activity (such as economic activity) may make it easier to control modern ecological problems.[48]

Historical development


Estimations of world population and GDP from a 2020 research paper[49]
Year Population
(million)
GDP per capita
(1990 $ in PPP)
GDP in billion
(1990 $ in PPP)
1000000 BCE 0.125 400 0.05
300000 BCE 1 400 0.40
25000 BCE 3.34 400 1.34
10000 BCE 4 400 1.60
5000 BCE 5 404 2.02
4000 BCE 7 409 2.87
3000 BCE 14 421 5.90
2000 BCE 27 433 11.7
1000 BCE 50 444 22.2
500 BCE 100 457 45.7
200 BCE 150 465 69.7
1 168 467 78.4
200 190 463 88.0
400 190 463 88.0
500 190 463 88.0
600 200 462 92.3
700 210 460 96.6
800 220 459 101
900 240 456 109
1000 265 453 120
1100 320 512 164
1200 360 551 198
1300 360 551 198
1400 350 541 190
1500 438 625 274
1600 556 629 350
1700 603 658 397
1820 1,042 712 741
1870 1,276 884 1,128
1900 1,563
1913 1,793 1,543 2,767
1920 1,863
1940 2,299 2,181 5,013
1950 2,528 2,104 5,318
1960 3,042 2,764 12,170
1970 3,691 3,725 13,751
1980 4,440 4,511 20,026
1990 5,269 5,149 27,133
2000 6,077 6,057 36,806
2010 6,873 7,814 53,704
2019 7,620 9,663 73,640

One example for a comparable metric other than GDP are the OECD Better Life Index rankings for different aggregative domains.

Legend
  Explained by: Housing
  Explained by: Income
  Explained by: Jobs
  Explained by: Community
  Explained by: Education
  Explained by: Environment
  Explained by: Civic engagement
  Explained by: Health
  Explained by: Life Satisfaction
  Explained by: Safety
  Explained by: Work-Life Balance
OECD Better Life Index rankings for 2016
Overall Rank
[50]
Country Housing Income Jobs Community Education Environment Civic engagement Health Life Satisfaction Safety Work-Life Balance
1  Norway
2  Australia
3  Denmark
4   Switzerland
5  Canada
6  Sweden
7  New Zealand
8  Finland
9  United States
10  Iceland
11  Netherlands
12  Germany
13  Luxembourg
14  Belgium
15  Austria
16  United Kingdom
17  Ireland
18  France
19  Spain
20  Slovenia
21  Czech Republic
22  Estonia
23  Japan
24  Slovakia
25  Italy
26  Israel
27  Poland
28  South Korea
29  Portugal
30  Latvia
31  Greece
32  Hungary
33  Russia
34  Chile
35  Brazil
36  Turkey
37  Mexico
38  South Africa

The index includes 11 comparable "dimensions" of well-being:[51]

  1. Housing: housing conditions and spendings (e.g. real estate pricing)
  2. Income: household income (after taxes and transfers) and net financial wealth
  3. Jobs: earnings, job security and unemployment
  4. Community: quality of social support network
  5. Education: education and what one gets out of it
  6. Environment: quality of environment (e.g. environmental health)
  7. Governance: involvement in democracy
  8. Health
  9. Life Satisfaction: level of happiness
  10. Safety: murder and assault rates
  11. Work-life balance

Economic studies


To promote exports, many government agencies publish on the web economic studies by sector and country. 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. Through Partnership Agreements, the Federation of International Trade Associations publishes studies from several of these agencies (USCS, FAS, AAFC, UKTI, and HKTDC) as well as other non-governmental organizations on its website globaltrade.net.

See also


Regional economies:

Events:

Lists:

References


  1. "THE GLOBAL ECONOMY | definition in the Cambridge English Dictionary". dictionary.cambridge.org. Retrieved 20 September 2020.
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