World GDP, GDP(PPP) 1980-2028 / IMF, October 2023 Data

World Gross Domestic Product (GDP) and Gross Domestic Product at Purchasing Power Parity (GDP(PPP)) are vital economic indicators that provide insights into the global economic health. The International Monetary Fund (IMF) releases periodic data to track and analyze these metrics.

As of October 2023, the World GDP reflects the total market value of all goods and services produced by countries worldwide. This comprehensive measure is crucial for assessing economic growth, development, and overall well-being. Over the period from 1980 to 2028, the World GDP has undergone dynamic shifts, influenced by factors such as technological advancements, geopolitical events, and economic policies.

GDP(PPP) adjusts the GDP by considering the relative cost of living and inflation rates, providing a more accurate representation of a country's economic output. This measure is particularly useful for comparing economic performance among nations. The IMF's October 2023 data on GDP(PPP) sheds light on the real purchasing power of countries, offering a more nuanced understanding of their economic strengths.

Analyzing the trends in World GDP and GDP(PPP) from 1980 to 2028 allows for a comprehensive assessment of global economic dynamics. Understanding the fluctuations in these indicators provides valuable insights into the impact of various global events, financial crises, and policy changes on the world economy.

However, it's essential to interpret these figures cautiously, considering the potential biases in data collection methodologies and the influence of external factors. Economies are complex, and fluctuations in GDP and GDP(PPP) may not always reflect the true well-being of a nation.

In conclusion, the IMF's October 2023 data on World GDP and GDP(PPP) offers a detailed snapshot of the global economic landscape. Analyzing these indicators over the years provides a historical perspective on economic trends, aiding policymakers, economists, and businesses in making informed decisions and navigating the complexities of the international economy.

[satoshinakamoto]

Look at India after 2014, when the 'fascist' Modi government came to power. From 10th, we rose to 5th in just 7 years. Still a lot of work to be done in GDP per capita. If only so many illegal immigrants & refugees from Bangaldesh & Myanmar were not squatting in India, along with the 'minorities', who remain poor and keep shouting fascism, the per capita would have rose significantly

[fauziahmad]

Indonesia’s GDP PPP quite impressive in 2018, from #10 to #7 in just a year 🤯

[priyashmukherjee]

*India's nominal GDP is expected to reach USD 7.3 trillion by 2030, according to S&P Global Market Intelligence. This would make India the world's third-largest economy, overtaking Japan AND GERMANY.India's nominal GDP PPP by 2030 is estimated to be around $17.948 trillion, making it the third largest economy in the world IF BJP STAY IN POWER* 🇮🇳 🔥

[arrafassan]

Idk why Mexico GDP in 2023 increase so drastically? In sharp contrast in subsequent years it increased but doesn't as significant as in 2023.

[tylerclayton]

PPP is completely irrelevant when comparing economies of different countries. There’s a reason no economist considers China to have the largest economy or India to have the third largest economy despite those countries ranking 1st and 3rd in PPP.

No economist or organization is going to say that India has a larger economy than Germany or Japan. Or that China has a larger economy than the US

PPP Per Capita is a valid way to compare per capita income relative to cost of living between different countries. But GDP PPP is more of an individual indicator. It’s not a metric that can be used to compare the economies of different countries amongst one another

[Indian_Rajput]

India is not even half of China 😂😂 Govt should focus on Amount not rank there is huge gap between 2 & 3 pathetic

[Mel_Gerrard]

PPP is now widely considered the fairest and most accurate way of calculating GDP, as the old way did so using USD which isn't utilised in daily internal trading within most nations.

[林遼太朗-we]

I can’t believe Japan has doubled PPP in this lost 30 years. Is PPP really corrective more GDP??

[muratguler]

Türkiye
Fransa ve İngiltere yi geçsin artik. Hedef 2028

[Itsshikhar-dusg]

I thought china would overtake US as the largest economy in terms of nominal again after 200 years but USA outgrew china in past 4 years. What I'm waiting for is when India becomes 3rd largest economy.

[Lxx-tcxc]

What we need to see is total and per capita:
- Real GDP
- Real GPD (PPP)
- Average annual growth rates of these 4 series, calculated over 1970-2022.
PPP is not calculated in a way that factors in the purchase cost of owner-occupied housing. This is a major defect.

[mmandrewa]

GDP(PPP) is about trying to correct for the fact that the price of the same good is different in different countries. So with GDP(PPP) someone tries to construct a basket of goods, find out what that basket of goods costs in every country, and then correct Nominal GDP by taking account of the fact that the same amount of money buys more in some countries than others.

GDP(PPP) is the better measure for comparing incomes in different countries. But it is not the better measure for comparing national income. So in that sense the second graphic is quite misleading. Nominal GDP, ie. the first graphic, is far better for that purpose.

The other problem with GDP(PPP), and this is an independent issue, is that it is extremely dependent on the ethical integrity of the people doing this. There are a thousands of ways to bias GDP(PPP) if you want to. And even if the people doing it are not politically biased, it would still be very easy to get it wrong without intending to.