Topic updates
Key Stats on the World Economy
26th October 2022
When you are studying globalisation, it is handy to have some key stats on the world economy at your fingertips.
More than half of the annual world output of goods and services now comes from emerging market / developing countries.
However, the entire sub-Saharan African region only accounts for three per cent of world production of goods and services.
The European Union – after the UK’s exit at the end of 2020 now accounts for 15% of world GDP
The UK now accounts for around 2.5% of the world economy – keep this in mind when discussing the impact of the UK on global economic and financial events
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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