Global Economy

The global economic growth, in its modern definition, first occurred during the Industrial Revolution era, first in Britain and then in the rest of Europe, and energy was central to this revolution

Prior to that, the “Malthusian Trap” ensured that the gains in income through technological advances were inevitably lost through population growth

Post the Industrial Revolution, the economies around the world progressed from being dominated by agricultural production to being dominated by the industrial sector and then by services sector

The global nominal income is eatimated to have first reached $100 billion mark in 1880

Economic growth spread to all regions of the world during the twentieth century, when world GDP per capita quintupled. The highest growth occurred in the 1960s during post-war reconstruction. Global nominal income expanded to $1 trillion by 1960 and $10 trillion by 1980

The economic boom of the 50s and 60s ended in the 70s with the 1973 oil crisis and the 1979 oil crisis

By 2000, global income had crossed $30 trillion mark

The Great Recession happened from 2007 to 2009

Global nominal income expanded to $100 trillion by 2020

The economies across the world suffered heavily from the COVID-19 recession

As of 2025, the United States ($ 30.5 trillion), China ($ 19.2 trillion), Germany ($ 4.7 trillion), India ($ 4.19 trillion) and Japan ($ 4.18 trillion) are the five largest economies by nominal Gross Domestic Product (GDP), and the global nominal income is estimated at ~$ 114 trillion

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Explore Global Economic indicators:

GDP Market Rates (USD bn)

GDP per Capita Constant USD

GDP per Capita Current USD

GDP PPP Constant in international Dollars

GDP PPP Current in international Dollars

GDP per Capita PPP Constant

GDP per Capita PPP Current

PPP Conversion GDP

Industry VA pct GDP

Services VA pct of GDP