The data displays the growth in global gross domestic product from 2012 to 2016, with projections up until 2022. In 2016, the global economy grew by about 3.23% compared to the previous year.
Global gross domestic product
Gross domestic product, also called GDP, is the market value of goods and services produced by a country in a certain time period. It is an important factor to evaluate the economic state of a country: the higher the GDP of a country, the better its economic state. Another important indicator is GDP per capita, which literally means “GDP per person”, but despite its name, it is not used to determine the standard of living in a country, as it does not reflect an individual’s personal income.
