World Economy - 2023

GEOGRAPHICAL NAMES 

Real GDP (purchasing power parity)

$134.08 trillion (2021 est.)

$126.51 trillion (2020 est.)

$130.445 trillion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

5.87% (2021 est.)

-3.12% (2020 est.)

2.59% (2019 est.)

Real GDP per capita

$17,000 (2021 est.)

$16,200 (2020 est.)

$16,800 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$80.27 trillion (2017 est.) SGWP (gross world product)

Inflation rate (consumer prices)

3.5% (2021 est.)

1.92% (2020 est.)

2.19% (2019 est.)

developed countries: 1.9% (2017 est.) 0.9% (2016 est.)

developing countries: 8.8% (2017 est.) 3.7% (2016 est.)

note: the above estimates are weighted averages; inflation in developed countries is 0% to 4% typically, in developing countries, 4% to 10% typically; national inflation rates vary widely in individual cases; inflation rates have declined for most countries for the last several years, held in check by increasing international competition from several low wage countries and by soft demand due to the world financial crisis

GDP - composition, by sector of origin

agriculture: 6.4% (2017 est.)

industry: 30% (2017 est.)

services: 63% (2017 est.)

GDP - composition, by end use

household consumption: 56.4% (2017 est.)

government consumption: 16.1% (2017 est.)

investment in fixed capital: 25.7% (2017 est.)

investment in inventories: 1.4% (2017 est.)

exports of goods and services: 28.8% (2017 est.)

imports of goods and services: -28.3% (2017 est.)

Industries

dominated by the onrush of technology, especially in computers, robotics, telecommunications, and medicines and medical equipment; most of these advances take place in OECD nations; only a small portion of non-OECD countries have succeeded in rapidly adjusting to these technological forces; the accelerated development of new technologies is complicating already grim environmental problems

Industrial production growth rate

6.13% (2021 est.)

Labor force

3.463 billion (2021 est.)

Labor force - by occupation

agriculture: 31%

industry: 23.5%

services: 45.5% (2014 est.)

Unemployment rate

6.18% (2021 est.)

6.58% (2020 est.)

5.36% (2019 est.)

note: combined unemployment and underemployment in many non-industrialized countries; developed countries typically 4%-12% unemployment (2007 est.)

Youth unemployment rate (ages 15-24)

total: 17.9%

male: 17.3%

female: 19.7% (2021 est.)

Gini Index coefficient - distribution of family income

37.9 (2012 est.)

Household income or consumption by percentage share

lowest 10%: 2.6%

highest 10%: 30.2% (2008 est.)

Budget

revenues: $21.68 trillion (2017 est.)

expenditures: $23.81 trillion (2017 est.)

Budget surplus (+) or deficit (-)

-3% (of GDP) (2016 est.)

Public debt

67.2% of GDP (2017 est.)

67.2% of GDP (2016 est.)

Taxes and other revenues

13.55% (of GDP) (2020 est.)

Exports

$28.108 trillion (2021 est.)

$22.595 trillion (2020 est.)

$24.971 trillion (2019 est.)

Exports - commodities

the whole range of industrial and agricultural goods and services

top ten - share of world trade: 14.8 electrical machinery, including computers; 14.4 mineral fuels, including oil, coal, gas, and refined products; 14.2 nuclear reactors, boilers, and parts; 8.9 cars, trucks, and buses; 3.5 scientific and precision instruments; 3.4 plastics; 2.7 iron and steel; 2.6 organic chemicals; 2.6 pharmaceutical products; 1.9 diamonds, pearls, and precious stones (2007 est.)

Imports

$27,120,162,000,000 (2021 est.)

$21,949,583,000,000 (2020 est.)

$24,418,208,000,000 (2019 est.)

Imports - commodities

the whole range of industrial and agricultural goods and services

top ten - share of world trade: see listing for exports

Debt - external

$76.56 trillion (31 December 2017 est.)

$75.09 trillion (31 December 2016 est.)

note: this figure is the sum total of all countries' external debt, both public and private

NOTE: The information regarding World on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of World 2023 information contained here. All suggestions for corrections of any errors about World 2023 should be addressed to the CIA or the source cited on each page.