In today’s article we will try to answer a new question. What are the top 15 nations that, year-to-year, have had a positive percentage change in GDP? To answer this question we start with a fundamental premise. What is GDP? GDP (Gross Domestic Product) is the value of the products and services produced within a country over a given period of time (in this case, a year). So in this article we are going to find out which are the nations with a greater annual percentage change from 1961 until 2019.
Top 15 Countries by GDP per Capita Growth (annual %) from 1961 to 2019
What are the 15 nations in the world where GDP has increased the most year over year? In the video below you can see this data over time. From as far back as 1961 to the latest available figure in 2019. Let’s start with an initial analysis. 1961. In this year, the nation that grew the most in percentage terms was Gabon with +13.66%. This was followed by Greece with +12.31% and in third place Trinidad and Tobago with +11.82%. In 1961 there were 5 nations with a GDP above 10%. These included Togo and Spain. Below 10% we find Japan, Iran, Panama, Israel, Italy, Syria and Brazil. Finland, Ivory Coast and the Republic of the Congo are in the last three positions of the top 15.
What are the 15 nations in the world where GDP has increased the most year over year? In the video below you can see this data over time. From as far back as 1961 to the latest available figure in 2019. Let’s start with an initial analysis. 1961. In this year, the nation that grew the most in percentage terms was Gabon with +13.66%. This was followed by Greece with +12.31% and in third place Trinidad and Tobago with +11.82%. In 1961 there were 5 nations with a GDP above 10%. These included Togo and Spain. Below 10% we find Japan, Iran, Panama, Israel, Italy, Syria and Brazil. Finland, Ivory Coast and the Republic of the Congo are in the last three positions of the top 15.
GDP growth (annual %)
If above we saw the data for the top 15 nations, below we will analyze the worldwide trend. To do so, let’s start with an initial analysis. How much is the world’s GDP growing from year to year? As you can see in the chart 1964 and 1973 are the years where growth has been widest. In fact in these two years the GDP of individual states on average grew by more than 6.50 points. All years from 1961 to 2019 have tended to be positive. Only in 2009 was there a decrease in value due to the financial crisis. In fact, in 2009 world GDP on average fell by 1.67 percentage points.
Immediately after the financial crisis in 2019, the figure rebounded sharply, returning to pre-crisis figures. In fact, in 2010, GDP grew by 4.3%. In the following years, however, from 2011 until 2019, the figure has not returned to the growth it had before. In 2019 for example, the overall average is +2.34%, which is significantly lower than previous years.
Thanks to the World Bank database, you can also see a map of the percentuael change in GDP from 1961 to 2019.
GDP (current US$) from 1961 to 2019
And in absolute terms, is world GDP increasing or decreasing? To answer this question, the graph below is interesting and useful. World GDP has been growing steadily since 1960. Despite some setbacks in the early 1980s and late 1990s, it has been growing steadily from 2002 onwards, except, as we saw earlier, in 2009. As of today, the world bank estimates that GDP in dollars is about 850000 million dollars.
Finally, one last interesting chart. What is the weight of the United States, the European Union, and China relative to the rest of the world in terms of GDP in 2019?
As can be seen, the weight of the United States and China is enrome on the total GDP. If we add to this the figure for the European Union as a whole, we can see that over half of the GDP is produced by these two countries (China and the US) plus the European Union as a whole.
Source and data
To make this video, I used data from the World Bank website. For the video I used App Flourish.
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