The Global Economy’s 0.1% Club
The majority of the world’s nations produce less than 0.1% of global GDP.
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Takeaways
- Even after much global economic development, large gaps still exist between most of the world’s nations.
- The majority of the world’s nations produce less than .1% of Global GDP.
- In 2012 The world’s 123 smallest economies combined produced $2 trillion of goods, around 3% of world GDP.
1. Of the 189 countries for which the World Bank has recent GDP data, 123 of them individually account for less than 0.1% of world GDP.
2. The world as a whole has just over 200 countries.
3. The global economy produced goods and services valued at over $72.4 trillion as of 2012, as measured in U.S. dollars.
4. Cuba and Azerbaijan led the “0.1% club” with GDP’s of $68 billion and $67 billion respectively.
5. Forty-seven countries in the 0.1% club have economies smaller than 0.01% — or 1/1000th — of world GDP.
6. Rwanda leads the 0.01%, with a $7.1 billion GDP.
7. The Pacific island nation of Tuvalu has the smallest measured national GDP, at $40 million.
8. The world’s 123 smallest economies combined produce $2.2 trillion of goods, or just a little more than 3% of world GDP, in 2012.
9. In the same year, Brazil, the seventh-largest economy worldwide, generated a $2.25 trillion GDP.
10. Though Brazil’s economy exceeds the combined output of 123 smallest economies, it would still need more than triple its GDP to account for 10% of the world’s total GDP.
Sources: The World Bank and The Globalist Research Center
