Growth of world output and gross domestic product, 2021 to 2024
|
Change from World Economic Situation and Prospects as of mid-2022 |
Annual percentage change World |
2021 5.8 |
2022a 3.0 |
2023b 1.9 |
2024b 2.7 |
2022 -0.1 |
2023 -1.2 |
Developed economies |
5.2 |
2.6 |
0.4 |
1.6 |
-0.2 |
-1.7 |
United States of America |
5.7 |
1.8 |
0.4 |
1.7 |
-0.8 |
- 1.4 |
Japan |
1.7 |
1.6 |
1.5 |
1.3 |
- 1 . 1 |
-0.7 |
European Union |
5.3 |
3.3 |
0.2 |
1.6 |
0.6 |
-2.2 |
Euro area |
5.3 |
3.2 |
0.1 |
1.6 |
0.5 |
-2.2 |
United Kingdom of Great Britain and Northern Ireland |
7.4 |
4.3 |
-0.8 |
1.0 |
1.1 |
- 1.8 |
Other developed countries |
4.6 |
3.4 |
1.2 |
1.8 |
-0.2 |
- 1.4 |
Economies in transitionc |
4.9 |
-3.0 |
-0.8 |
2.3 |
5.2 |
.. |
South-Eastern Europe |
7.4 |
2.8 |
2.3 |
2.8 |
-0.4 |
- 1.2 |
Commonwealth of Independent States and Georgiac |
4.8 |
-3.3 |
- 1.0 |
2.3 |
5.5 |
.. |
Russian Federation |
4.7 |
-3.5 |
-2.9 |
1.5 |
7.1 |
-2.9 |
Developing economies |
6.7 |
3.9 |
3.9 |
4.1 |
-0.2 |
-0.6 |
Africad |
4.1 |
4.1 |
3.8 |
3.8 |
0.4 |
0.0 |
North Africad |
3.7 |
5.1 |
4.1 |
3.7 |
1.2 |
0.3 |
East Africa |
5.5 |
5.1 |
5.1 |
4.9 |
0.3 |
-0.6 |
Central Africa |
1.4 |
3.4 |
3.4 |
3.4 |
0.1 |
0.1 |
West Africa |
4.2 |
3.6 |
3.8 |
4.0 |
-0.4 |
-0.2 |
Southern Africa |
4.1 |
2.5 |
2.3 |
2.7 |
0.1 |
-0.2 |
East and South Asia |
7.1 |
3.6 |
4.4 |
4.6 |
-0.9 |
-0.6 |
East Asia |
7.0 |
3.2 |
4.4 |
4.3 |
- 1.2 |
-0.6 |
China |
8.1 |
3.0 |
4.8 |
4.5 |
- 1.5 |
-0.4 |
South Asiae |
7.2 |
5.6 |
4.8 |
5.9 |
0.1 |
-0.6 |
Indiae |
8.9 |
6.4 |
5.8 |
6.7 |
0.0 |
-0.2 |
Western Asia |
6.2 |
6.4 |
3.5 |
3.4 |
1.9 |
-0. 1 |
Latin America and the Caribbean |
6.6 |
3.8 |
1.4 |
2.5 |
1.7 |
- 1.4 |
South America |
7.0 |
3.9 |
1.1 |
2.5 |
2.1 |
- 1.6 |
Brazil |
4.6 |
2.9 |
0.9 |
2.0 |
2.4 |
- 1.3 |
Mexico and Central America |
5.8 |
3.3 |
1.6 |
2.5 |
1.1 |
- 1.6 |
Caribbean |
6.4 |
10.7 |
7.9 |
5.8 |
-0.5 |
4.0 |
Least developed countries |
2.4 |
4.3 |
4.4 |
5.4 |
0.0 |
-0.9 |
Memorandum items |
World tradef |
10.5 |
6.0 |
-0.4 |
2.5 |
1.9 |
-5.2 |
World output growth with PPP weightsg |
5.9 |
3.2 |
2.3 |
3.2 |
0.1 |
- 1.2 |
Source: UN DESA, based on estimates and forecasts produced with the World Economic Forecasting Model.
Notes: (a) estimated, (b) forecast, (c) excludes Ukraine in 2023 and 2024 forecasts, (d) excludes Libya, (e) growth rates are on a calendar year basis (for fiscal year growth figures, please refer to the statistical annex), (f) includes goods and services and (g) based on a 2015 benchmark.