Shifts in the share of Global GDP

One feature of globalisation is that many industrializing countries are winning a rising share of world trade and their economies are growing faster than in richer developed nations especially after the recent Global Financial Crisis (GFC). There is a significant shift in the balance of economic and financial power in the world economy.

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Emerging and developing countries now account for more than 57% of global GDP adjusted for purchasing power according to data for 2015 published by the IMF. The 28-nation European Union has a share of global GDP now less than 17%.

The breakdown of global GDP share for selected countries is shown in the chart below

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