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The first list includes estimates compiled by the International Monetary Fund's World Economic Outlook, the second list shows the World Bank's data, and the third list includes data compiled by the United Nations Statistics Division. The IMF's definitive data for the past year and estimates for the current year are published twice a year in ...
The gross domestic product of India was estimated at 24.4% of the world's economy in 1500, 22.4% in 1600, 16% in 1820, and 12.1% in 1870. India's share of global GDP declined to less than 2% of global GDP by the time of its independence in 1947, and only rose gradually after the liberalization of its economy beginning in the 1990s.
The economic history of the world encompasses the development of human economic activity throughout time. It has been estimated that throughout prehistory, the world average GDP per capita was about $158 per annum (inflation adjusted for 2013), and did not rise much until the Industrial Revolution .
For change of GDP per capita over time as a measure of economic growth, see real GDP growth and real GDP per capita growth. Non-sovereign entities (the world, continents, and some dependent territories) and states with limited international recognition are included in the list in cases in which they appear in the sources. These economies are ...
Gross domestic product (GDP) is a monetary measure of the total market value [1] of all the final goods and services produced and rendered in a specific time period by a country [2] or countries. [ 3 ] [ 4 ] [ 5 ] GDP is often used to measure the economic performance of a country or region. [ 2 ]
^ At year 1, year 1000, year 1500 and till the start of British colonisation in India in 17th century, India's GDP always varied between ~22 - 33% world's total GDP and was the largest economy in the world from year 1 until year 1500, [4] which dropped to 2% by Independence of India in 1947. [15]
Measures of GDP typically exclude unpaid economic activity, most importantly domestic work such as childcare. This leads to distortions; for example, a paid nanny's income contributes to GDP, but an unpaid parent's time spent caring for children will not, even though they are both carrying out the same economic activity.
This is an alphabetical list of countries by past and projected Gross Domestic Product, based on the Purchasing Power Parity (PPP) methodology, not on market exchange rates. These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database, October 2024 Edition. [ 1 ]