Gross World Product

The gross world product (GWP) is the combined gross domestic product (GDP) of all countries and economies in the world, representing the total value of goods and services produced globally.

According to the IMF World Economic Outlook (April 2026), the world economy, comprising 195 economies, is projected to be around $126.30 trillion in 2026, an increase of $8.12 trillion from $118.18 trillion in 2025. In purchasing power parity (PPP) terms, global GDP is forecast to reach around Int. $222.76 trillion, an increase of Int. $12.43 trillion from Int. $210.33 trillion in 2025. This is equivalent to 176% of nominal GDP and represents the second-highest PPP-to-nominal GDP ratio since 1990, after 2024. The PPP-to-nominal GDP ratio was at an all-time low of 1.15 in 1980. The ratio has generally increased over time, partly reflecting the relatively faster growth of developing economies, which tend to have higher GDP when measured in PPP terms.

The global economy is projected to grow by 3.06% in 2026, marginally lower than the 3.44% growth recorded in 2025. Only three times since 1961 has the world economy grown by more than 6% in a single year. The highest annual global GDP growth rate since 1961 was 6.63% in 1964. In contrast, 2020 recorded the sharpest contraction, with global GDP declining by 2.90% amid the COVID-19 pandemic. 2009 was the only other year in the period when global GDP registered negative growth.

In constant 2015 prices, which provides a better measure of economic expansion over time, the world economy expanded from $11.08 trillion in 1960 to $99.66 trillion in 2025, a 9-fold increase, based on market exchange rates, according to World Bank estimates covering more than 200 economies. In constant 2021 prices and purchasing power parity (PPP) terms, world GDP has expanded 3.01-fold since 1990.

Nominal: The largest increase in global GDP was recorded in 2021, when it rose by approximately $5.39 trillion at constant 2015 prices. In 2020, global GDP contracted by around $2.47 trillion, marking one of only two years since 1960 when the global economy declined, the other being 2009. At current prices, the largest annual increase was also recorded in 2021, at $12.39 trillion, while the largest decline occurred in 2015, when global GDP fell by approximately $4.4 trillion. Overall, global GDP declined in seven years when measured at current prices.

PPP: The largest increase and decline in global GDP at constant 2021 prices occurred in 2021 and 2020, respectively. At current prices, global GDP in PPP terms increased by a substantial Int. $18.47 trillion in 2022. The figure declined only once, in 2020, when it fell by approximately Int. $353 billion.