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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 (adjusted to 2013 dollars), and did not rise much until the Industrial Revolution. [citation needed]
China. China represented 1.61% of the world's economy in 1987 (lowest point), rising to 18.4% (nominal) and 19% (PPP) in 2022. It accounted for 25.4% of global GDP in 1 CE, 29% of world global output in 1600 CE, 17.3% of the world's economy in 1870, and 33% in 1820 (its highest point). China's share of global GDP varied from a quarter to a ...
These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database (April 2024 edition) and/or other sources. [1] For older GDP trends, see List of regions by past GDP (PPP).
The global contribution to world's GDP by major economies from 1 AD to 2008 AD according to Angus Maddison's estimates [1]. This historical list of the ten largest countries by GDP compiled by British economist Angus Maddison shows how much the membership and rankings of the world's ten largest economies has changed.
[7] [8] Since China's transition to a socialist market economy through controlled privatisation and deregulation, [9] [10] the country has seen its ranking increase from ninth in 1978, to second in 2010; China's economic growth accelerated during this period and its share of global nominal GDP surged from 2% in 1980 to 18% in 2021.
e. Economic history is the study of history using methodological tools from economics or with a special attention to economic phenomena. Research is conducted using a combination of historical methods, statistical methods and the application of economic theory to historical situations and institutions. The field can encompass a wide variety of ...
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [1] This list is not to be confused with the list of countries by real GDP per capita growth, which is the percentage change of GDP per person recalculated according to the changing number of the population of the country.
GDP (PPP) milestones by countries. The following is a list of countries reaching a certain threshold of GDP (PPP) in a specific year according to International Monetary Fund. [ 2 ] As for the Soviet Union, its GDP (PPP) reached 2.66 trillion USD in 1990, but it is unknown in which year did its economy surpass the 1 trillion and 2 trillion hallmark.