GDP at Market Exchange Rate: Current / Constant USD bn
The World Development Indicators (WDI) is the primary World Bank collection of development indicators, compiled from officially-recognized international sources. It presents the most current and accurate global development data available, and includes national, regional and global estimates
WDI is the data source of many of our indicators
Every July, World Bank provides country-wise data series on GDP, both in Market Exchange Rate (MER) basis (or Official Exchange Rate: OER) and Purchasing Power Parity (PPP) basis, and in Current Prices and in Constant Prices
World Bank provides data in Local Currency Unit (LCU) as well as in Dollar terms. The data series in dollar terms is useful for making global comparisons
GDP (current US$): GDP at purchaser prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars
Current price series are influenced by the effects of inflation. Constant price series are used to measure the true volume growth, i.e. adjusting for the effects of price inflation. World Bank has used 2015 as the Base Year for converting Current data into Constant prices. Hence by definition, GDP at Current Prices and at Constant Prices are the same for that year
GDP at Current Prices is also known as Nominal GDP (and at Constant Prices it is also known as Real GDP
Table below captures trend in GDP of India, China, US and World in Market Exchange Rate terms and in Current & Constant Prices
In 2024, world GDP was US dollar 111,326.4 billion (~USD 111 trillion) at Current Prices and US dollar 96,698.1 billion (~USD 97 trillion at Constant Prices, both in Market Exchange Rate terms
| Year | India GDP Current USD billion | China GDP Current USD billion | US GDP Current USD billion | World GDP Current USD billion | India GDP Constant USD billion | China GDP Constant USD billion | US GDP Constant USD billion | World GDP Constant USD billion | Share India GDP Constant pct | Share China GDP Constant pct | Share US GDP Constant pct | World GDP Constant |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 3912.7 | 18743.8 | 29184.9 | 111326.4 | 3477.5 | 18488.1 | 22679.5 | 96698.1 | 3.6 | 19.1 | 23.5 | 100.0 |
| 2023 | 3638.5 | 18270.4 | 27720.7 | 106970.8 | 3265.7 | 17611.5 | 22062.6 | 94006.5 | 3.5 | 18.7 | 23.5 | 100.0 |
| 2022 | 3346.1 | 18316.8 | 26006.9 | 102434.9 | 2990.8 | 16706.9 | 21443.4 | 91318.7 | 3.3 | 18.3 | 23.5 | 100.0 |
| 2021 | 3167.3 | 18201.7 | 23681.2 | 98365.7 | 2779.3 | 16199.2 | 20917.9 | 88350.2 | 3.2 | 18.3 | 23.7 | 100.0 |
| 2020 | 2674.9 | 14996.4 | 21354.1 | 86116.6 | 2533.8 | 14920.5 | 19723.6 | 83020.6 | 3.1 | 18.0 | 23.8 | 100.0 |
| 2019 | 2835.6 | 14560.2 | 21540.0 | 88492.4 | 2689.2 | 14579.3 | 20159.6 | 85455.3 | 3.2 | 17.1 | 23.6 | 100.0 |
| 2018 | 2702.9 | 14147.8 | 20656.5 | 87189.0 | 2589.0 | 13745.2 | 19651.9 | 83200.6 | 3.1 | 16.5 | 23.6 | 100.0 |
| 2017 | 2651.5 | 12537.6 | 19612.1 | 81974.8 | 2432.0 | 12875.2 | 19085.7 | 80545.7 | 3.0 | 16.0 | 23.7 | 100.0 |
| 2016 | 2294.8 | 11456.0 | 18804.9 | 76957.3 | 2277.3 | 12045.2 | 18627.9 | 77854.8 | 2.9 | 15.5 | 23.9 | 100.0 |
| 2015 | 2103.6 | 11280.8 | 18295.0 | 75723.6 | 2103.6 | 11280.8 | 18295.0 | 75723.6 | 2.8 | 14.9 | 24.2 | 100.0 |
| 2014 | 2039.1 | 10674.5 | 17608.1 | 80247.4 | 1947.8 | 10544.9 | 17771.5 | 73422.2 | 2.7 | 14.4 | 24.2 | 100.0 |
| 2013 | 1856.7 | 9743.1 | 16880.7 | 78070.1 | 1813.5 | 9812.7 | 17334.1 | 71181.0 | 2.6 | 13.8 | 24.4 | 100.0 |
| 2012 | 1827.6 | 8673.7 | 16254.0 | 75866.0 | 1704.6 | 9104.5 | 16974.6 | 69182.3 | 2.5 | 13.2 | 24.5 | 100.0 |
| 2011 | 1823.1 | 7671.8 | 15599.7 | 74213.0 | 1616.4 | 8441.3 | 16594.7 | 67358.7 | 2.4 | 12.5 | 24.6 | 100.0 |
| 2010 | 1675.6 | 6192.6 | 15049.0 | 66722.1 | 1535.9 | 7711.7 | 16339.1 | 65177.0 | 2.4 | 11.8 | 25.1 | 100.0 |
| 2009 | 1341.9 | 5189.6 | 14478.1 | 60909.2 | 1415.6 | 6972.8 | 15910.3 | 62354.2 | 2.3 | 11.2 | 25.5 | 100.0 |
| 2008 | 1198.9 | 4667.3 | 14769.9 | 64232.3 | 1312.4 | 6373.5 | 16331.1 | 63188.0 | 2.1 | 10.1 | 25.9 | 100.0 |
| 2007 | 1216.7 | 3604.1 | 14474.2 | 58448.6 | 1273.1 | 5811.6 | 16312.5 | 61904.1 | 2.1 | 9.4 | 26.4 | 100.0 |
| 2006 | 940.3 | 2791.5 | 13815.6 | 51859.7 | 1182.5 | 5091.2 | 15992.1 | 59303.3 | 2.0 | 8.6 | 27.0 | 100.0 |
| 2005 | 820.4 | 2317.6 | 13039.2 | 47847.6 | 1094.3 | 4518.5 | 15558.8 | 56765.2 | 1.9 | 8.0 | 27.4 | 100.0 |
| 2004 | 709.2 | 1984.2 | 12217.2 | 44181.9 | 1014.0 | 4053.9 | 15035.1 | 54561.7 | 1.9 | 7.4 | 27.6 | 100.0 |
| 2003 | 607.7 | 1683.9 | 11456.5 | 39205.6 | 939.5 | 3681.0 | 14478.0 | 52219.6 | 1.8 | 7.1 | 27.7 | 100.0 |
| 2002 | 514.9 | 1489.8 | 10929.1 | 34959.9 | 871.1 | 3342.8 | 14084.2 | 50645.0 | 1.7 | 6.6 | 27.8 | 100.0 |
| 2001 | 485.4 | 1355.0 | 10581.9 | 33662.3 | 839.2 | 3059.9 | 13848.8 | 49491.2 | 1.7 | 6.2 | 28.0 | 100.0 |
| 2000 | 468.4 | 1223.8 | 10251.0 | 33868.7 | 800.5 | 2825.1 | 13717.7 | 48501.7 | 1.7 | 5.8 | 28.3 | 100.0 |
| 1999 | 458.8 | 1103.8 | 9631.2 | 32757.3 | 770.9 | 2601.7 | 13180.2 | 46394.4 | 1.7 | 5.6 | 28.4 | 100.0 |
| 1998 | 421.4 | 1037.1 | 9062.8 | 31711.1 | 708.3 | 2414.9 | 12578.0 | 44783.9 | 1.6 | 5.4 | 28.1 | 100.0 |
| 1997 | 415.9 | 967.8 | 8577.6 | 31767.3 | 667.0 | 2237.6 | 12038.3 | 43542.2 | 1.5 | 5.1 | 27.7 | 100.0 |
| 1996 | 392.9 | 868.5 | 8073.1 | 31872.1 | 641.1 | 2047.5 | 11525.7 | 41884.0 | 1.5 | 4.9 | 27.5 | 100.0 |
| 1995 | 360.3 | 738.2 | 7639.7 | 31154.6 | 596.1 | 1861.7 | 11106.7 | 40432.5 | 1.5 | 4.6 | 27.5 | 100.0 |
| 1994 | 327.3 | 566.9 | 7287.2 | 27945.2 | 554.1 | 1676.7 | 10816.3 | 39214.3 | 1.4 | 4.3 | 27.6 | 100.0 |
| 1993 | 279.3 | 446.6 | 6858.6 | 25961.3 | 519.5 | 1482.9 | 10397.4 | 37943.4 | 1.4 | 3.9 | 27.4 | 100.0 |
| 1992 | 288.2 | 428.5 | 6520.3 | 25534.9 | 495.9 | 1301.6 | 10119.0 | 37255.1 | 1.3 | 3.5 | 27.2 | 100.0 |
| 1991 | 270.1 | 384.5 | 6158.1 | 23910.6 | 470.2 | 1138.8 | 9774.6 | 36513.7 | 1.3 | 3.1 | 26.8 | 100.0 |
| 1990 | 321.0 | 361.6 | 5963.1 | 22908.4 | 465.2 | 1041.3 | 9785.2 | 36074.5 | 1.3 | 2.9 | 27.1 | 100.0 |
| 1989 | 296.0 | 348.4 | 5641.6 | 20388.5 | 440.8 | 1001.8 | 9604.1 | 35118.1 | 1.3 | 2.9 | 27.4 | 100.0 |
| 1988 | 296.6 | 312.9 | 5236.4 | 19519.0 | 416.1 | 961.3 | 9263.9 | 33857.0 | 1.2 | 2.8 | 27.4 | 100.0 |
| 1987 | 279.0 | 273.5 | 4855.2 | 17468.6 | 379.6 | 864.3 | 8892.5 | 32383.0 | 1.2 | 2.7 | 27.5 | 100.0 |
| 1986 | 249.0 | 301.3 | 4579.6 | 15345.9 | 365.1 | 774.3 | 8595.5 | 31211.2 | 1.2 | 2.5 | 27.5 | 100.0 |
| 1985 | 232.5 | 310.1 | 4339.0 | 13015.1 | 348.4 | 710.8 | 8307.9 | 30233.3 | 1.2 | 2.4 | 27.5 | 100.0 |
| 1984 | 212.2 | 260.4 | 4037.6 | 12426.3 | 331.0 | 626.6 | 7975.3 | 29151.9 | 1.1 | 2.2 | 27.4 | 100.0 |
| 1983 | 218.3 | 231.1 | 3634.0 | 11961.4 | 318.9 | 543.8 | 7437.1 | 27849.3 | 1.1 | 2.0 | 26.7 | 100.0 |
| 1982 | 200.7 | 205.5 | 3343.8 | 11717.8 | 297.2 | 491.1 | 7111.2 | 27135.3 | 1.1 | 1.8 | 26.2 | 100.0 |
| 1981 | 193.5 | 196.2 | 3207.0 | 11841.6 | 287.2 | 450.3 | 7241.7 | 27039.7 | 1.1 | 1.7 | 26.8 | 100.0 |
| 1980 | 186.3 | 191.5 | 2857.3 | 11451.2 | 270.9 | 428.4 | 7062.5 | 26524.8 | 1.0 | 1.6 | 26.6 | 100.0 |
| 1979 | 153.0 | 178.6 | 2627.3 | 10155.1 | 253.8 | 397.3 | 7080.7 | 26034.2 | 1.0 | 1.5 | 27.2 | 100.0 |
| 1978 | 137.3 | 149.8 | 2351.6 | 8779.4 | 267.9 | 369.2 | 6863.4 | 24988.4 | 1.1 | 1.5 | 27.5 | 100.0 |
| 1977 | 121.5 | 175.2 | 2081.8 | 7415.8 | 253.4 | 331.7 | 6503.4 | 23989.8 | 1.1 | 1.4 | 27.1 | 100.0 |
| 1976 | 102.7 | 154.2 | 1873.4 | 6559.5 | 236.3 | 308.3 | 6216.0 | 23064.8 | 1.0 | 1.3 | 27.0 | 100.0 |
| 1975 | 98.5 | 163.7 | 1684.9 | 6033.9 | 232.4 | 313.3 | 5898.2 | 21927.9 | 1.1 | 1.4 | 26.9 | 100.0 |
| 1974 | 99.5 | 144.4 | 1545.2 | 5419.3 | 212.9 | 288.1 | 5910.3 | 21804.2 | 1.0 | 1.3 | 27.1 | 100.0 |
| 1973 | 85.5 | 138.8 | 1425.4 | 4688.5 | 210.4 | 281.6 | 5942.5 | 21391.9 | 1.0 | 1.3 | 27.8 | 100.0 |
| 1972 | 71.5 | 113.9 | 1279.1 | 3833.7 | 203.7 | 261.3 | 5624.9 | 20104.1 | 1.0 | 1.3 | 28.0 | 100.0 |
| 1971 | 67.4 | 100.0 | 1164.9 | 3319.0 | 204.8 | 251.8 | 5344.0 | 19037.2 | 1.1 | 1.3 | 28.1 | 100.0 |
| 1970 | 62.4 | 92.8 | 1073.3 | 3003.5 | 201.5 | 235.2 | 5173.7 | 18257.3 | 1.1 | 1.3 | 28.3 | 100.0 |
| 1969 | 58.4 | 79.8 | 1018.5 | 2739.6 | 191.6 | 197.1 | 5164.2 | 17597.7 | 1.1 | 1.1 | 29.4 | 100.0 |
| 1968 | 53.1 | 71.0 | 941.6 | 2480.8 | 179.9 | 168.6 | 5007.8 | 16603.0 | 1.1 | 1.0 | 30.2 | 100.0 |
| 1967 | 50.1 | 73.0 | 860.7 | 2295.5 | 174.0 | 175.8 | 4773.2 | 15668.4 | 1.1 | 1.1 | 30.5 | 100.0 |
| 1966 | 45.6 | 76.9 | 814.1 | 2163.2 | 161.4 | 186.5 | 4645.8 | 15092.6 | 1.1 | 1.2 | 30.8 | 100.0 |
| 1965 | 59.6 | 70.6 | 743.5 | 1996.3 | 161.4 | 168.6 | 4358.3 | 14310.4 | 1.1 | 1.2 | 30.5 | 100.0 |
| 1964 | 56.5 | 59.8 | 685.6 | 1832.1 | 165.8 | 144.1 | 4092.4 | 13547.6 | 1.2 | 1.1 | 30.2 | 100.0 |
| 1963 | 48.4 | 50.8 | 638.4 | 1671.3 | 154.3 | 122.0 | 3869.4 | 12713.8 | 1.2 | 1.0 | 30.4 | 100.0 |
| 1962 | 42.2 | 47.3 | 604.7 | 1545.6 | 145.6 | 110.6 | 3707.9 | 12108.1 | 1.2 | 0.9 | 30.6 | 100.0 |
| 1961 | 39.2 | 50.2 | 562.6 | 1444.2 | 141.4 | 117.1 | 3493.7 | 11495.5 | 1.2 | 1.0 | 30.4 | 100.0 |
| 1960 | 37.0 | 59.8 | 542.4 | 1366.5 | 136.4 | 161.0 | 3406.3 | 11047.9 | 1.2 | 1.5 | 30.8 | 100.0 |
If we scroll down the above Table, world GDP in 1960 was just US dollar 1,366.5 billion at Current Prices and US dollar 11,047.9 billion at Constant prices
Before the chosen reference year, GDP at constant prices (Real GDP) is higher than Nominal GDP (current prices) because prices were generally lower in those earlier times
After the chosen reference year, since current prices are generally higher than constant prices, GDP at constant prices is lower than GDP at current prices
However, some exceptions exist when converting GDP in local currency unit into US dollars:
Some countries may have had large devaluations of their currency, which can cause the current dollar series to be lower than the constant dollar series