This article will be permanently flagged as inappropriate and made unaccessible to everyone. Are you certain this article is inappropriate? Excessive Violence Sexual Content Political / Social
Email Address:
Article Id: WHEBN0000227630 Reproduction Date:
The world economy, or global economy, generally refers to the economy, which is based on economies of all of the world's countries' national economies. Also global economy can be seen as the economy of global society and national economies – as economies of local societies, making the global one. It can be evaluated in various kind of ways. For instance, depending on the model used, the valuation that is arrived at can be represented in a certain currency, such as 2006 US dollars.
It is inseparable from the geography and ecology of Earth, and is therefore something of a misnomer, since, while definitions and representations of the "world economy" vary widely, they must at a minimum exclude any consideration of resources or value based outside of the Earth. For example, while attempts could be made to calculate the value of currently unexploited mining opportunities in unclaimed territory in Antarctica, the same opportunities on Mars would not be considered a part of the world economy—even if currently exploited in some way—and could be considered of latent value only in the same way as uncreated intellectual property, such as a previously unconceived invention. Beyond the minimum standard of concerning value in production, use, and exchange on the planet Earth, definitions, representations, models, and valuations of the world economy vary widely.
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 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 US 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 7.13 billion people have most of their economic activity reflected in these valuations.
In 2013, the largest economies in the world with more than $2 trillion, €1.25 trillion by nominal GDP were the United States, China, Japan, Germany, France, the United Kingdom, Brazil, Russia, Italy and India.
The following three tables list the twenty-five largest economies by GDP (Nominal) in 2014, twenty-five largest economies by GDP (PPP) in 2014, and the twenty-five economies with the largest shares of global economic growth in 2014. Members of the G-20 major economies are in bold.
The following is a list of the twenty largest economies by nominal GDP at a specific year according to International Monetary Fund.[9]
The following is a list of twenty largest economies by GDP (PPP) at a specific year according to the CIA World Factbook and the International Monetary Fund.[10][11]
At exchange rates, the global economic output expanded by US$11.5 trillion from 1980 to 1990. The five largest contributors to global output contraction are Argentina, Saudi Arabia, Nigeria, the Democratic Republic of the Congo, and Venezuela. At purchasing power parity, the global economic output expanded by US$13.7 trillion from 1980 to 1990. The following two tables are lists of the 20 largest contributors to global economic growth from 1980 to 1990 by International Monetary Fund.
At exchange rates, the global economic output expanded by US$10.4 trillion from 1990 to 2000. At purchasing power parity, the global economic output expanded by US$22.0 trillion from 1990 to 2000.
At exchange rates, the global economic output expanded by US$31.6 trillion from 2000 to 2010. At purchasing power parity, the global economic output expanded by US$38.9 trillion from 2010 to 2010.
IMF's economic outlook for 2010 noted that banks faced a "wall" of maturing debt, which presents important risks for the normalization of credit conditions. There has been little progress in lengthening the maturity of their funding and, as a result, over $4 trillion in debt is due to be refinanced in the next 2 years.[17]`
While there have been some encouraging signs of economic recovery, especially in the United States, the global economic growth seems to be losing momentum. According to the IMF's World Economic Outlook report puplished in April 2012, "global growth is projected to drop from about 4 percent in 2011 to about 3½ percent in 2012 because of weak activity during the second half of 2011 and the first half of 2012."[18]
The following two tables are lists of the 20 largest contributors to global economic growth from 2000 to 2010 by International Monetary Fund.
At exchange rates, the economic output of the world is expected to expand by US$36.9 trillion, €29.1 trillion from 2010 to 2019.[21] The following two tables are predictive lists of the 50 countries with the largest contribution to global economic growth from 2010 to 2019 by International Monetary Fund.
Telephones – main lines in use: 843,923,500 (2007) 4,263,367,600 (2008)
Transportation infrastructure worldwide includes:
To promote exports, many government agencies publish on the web economic studies by sector and country. Among these agencies include the GlobalTrade.net.
Regional economies:
Events:
Lists:
Isle of Man, India, Canada, European Union, British Overseas Territories
Ontario, Quebec City, Quebec, Ottawa, Aboriginal peoples in Canada
Qatar, Bahrain, Yemen, Arabic language, Kuwait
United Kingdom, European Union, Italy, Canada, Spain
Delhi, India, Rajasthan, Pakistan, Maharashtra
Singapore, South Korea, Saudi Arabia, India, Malaysia
Euro, European Central Bank, European Union, Italy, Portugal
Sudan, Zimbabwe, Kenya, Egypt, Malawi
Canadian Pacific Railway, Alberta, Fort McMurray, Athabasca Oil Sands, Economy of Canada