EconomyMay 10, 2024
The Biggest Drivers of Global GDP (1980-2024)
@visualcapitalist
What we’re showing
This chart shows the world’s top six economies by their % share of global GDP from 1980 to 2024F. These figures were sourced from the IMF’s World Economic Outlook (April 2024) and are based on current prices.
Ups & downs
- After declining throughout the 2000s, the U.S. has grown its share of global GDP from 21.1% in 2011, to 26.3% for 2024 (forecasted).
- The EU’s share of global GDP declined significantly as China’s economy began its rapid ascent.
- Japan was once the second largest country economy after the U.S., but economic stagnation and an aging population has shrunk its share.
Dataset
| Share of GDP (%) | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| China | 2.7 | 2.5 | 2.5 | 2.6 | 2.6 | 2.5 | 2.0 | 1.9 | 2.1 | 2.3 | 1.8 | 1.7 | 1.9 | 2.4 | 2.0 | 2.3 | 2.7 | 3.0 | 3.2 | 3.3 | 3.5 | 3.9 | 4.2 | 4.2 | 4.4 | 4.8 | 5.3 | 6.1 | 7.1 | 8.4 | 9.1 | 10.1 | 11.3 | 12.4 | 13.2 | 14.8 | 14.7 | 15.1 | 16.0 | 16.4 | 17.4 | 18.3 | 17.7 | 16.9 | 16.9 |
| India | 1.7 | 1.7 | 1.8 | 1.9 | 1.8 | 1.9 | 1.7 | 1.6 | 1.5 | 1.5 | 1.4 | 1.1 | 1.1 | 1.1 | 1.2 | 1.2 | 1.2 | 1.3 | 1.3 | 1.4 | 1.4 | 1.4 | 1.5 | 1.5 | 1.6 | 1.7 | 1.8 | 2.1 | 1.9 | 2.2 | 2.5 | 2.5 | 2.4 | 2.4 | 2.6 | 2.8 | 3.0 | 3.3 | 3.1 | 3.2 | 3.1 | 3.3 | 3.3 | 3.4 | 3.6 |
| Japan | 10.1 | 10.8 | 10.2 | 10.9 | 11.2 | 11.4 | 14.3 | 15.2 | 16.3 | 15.4 | 14.1 | 15.4 | 15.7 | 17.4 | 17.8 | 17.8 | 15.3 | 14.0 | 12.9 | 14.0 | 14.6 | 12.9 | 12.0 | 11.5 | 11.1 | 10.1 | 8.9 | 7.8 | 8.0 | 8.7 | 8.7 | 8.4 | 8.3 | 6.7 | 6.2 | 5.9 | 6.5 | 6.1 | 5.8 | 5.8 | 5.9 | 5.2 | 4.2 | 4.0 | 3.8 |
| United Kingdom | 5.4 | 5.1 | 4.9 | 4.6 | 4.2 | 4.3 | 4.4 | 4.8 | 5.2 | 5.0 | 5.3 | 5.3 | 5.1 | 4.4 | 4.4 | 4.3 | 4.4 | 4.9 | 5.2 | 5.1 | 4.9 | 4.9 | 5.1 | 5.2 | 5.5 | 5.3 | 5.2 | 5.3 | 4.6 | 4.0 | 3.7 | 3.6 | 3.6 | 3.6 | 3.9 | 3.9 | 3.5 | 3.3 | 3.3 | 3.3 | 3.2 | 3.2 | 3.1 | 3.2 | 3.2 |
| United States | 25.4 | 27.8 | 29.6 | 31.3 | 33.6 | 34.6 | 31.0 | 28.5 | 27.3 | 28.0 | 26.3 | 26.0 | 25.7 | 26.3 | 26.0 | 24.5 | 25.1 | 26.8 | 28.4 | 29.2 | 30.1 | 31.3 | 31.3 | 29.2 | 27.7 | 27.2 | 26.7 | 24.7 | 23.0 | 23.8 | 22.6 | 21.1 | 21.6 | 21.8 | 22.1 | 24.4 | 24.6 | 24.1 | 24.0 | 24.6 | 25.0 | 24.3 | 25.6 | 26.1 | 26.3 |
| European Union | 28.6 | 24.7 | 24.4 | 23.2 | 21.6 | 21.3 | 24.7 | 26.3 | 25.9 | 25.0 | 27.4 | 28.0 | 28.8 | 25.6 | 25.3 | 26.5 | 26.2 | 24.1 | 25.0 | 24.0 | 21.3 | 21.8 | 23.1 | 25.3 | 25.8 | 24.9 | 24.5 | 25.2 | 25.4 | 24.3 | 21.9 | 21.3 | 19.5 | 19.7 | 19.7 | 18.0 | 18.2 | 18.2 | 18.5 | 17.9 | 18.0 | 17.9 | 16.7 | 17.5 | 17.3 |
Data sources
Based on GDP in current prices. Figures for 2024 are projections.
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