Breaking Down the $100 Trillion Global Economy in One Simple Chart

We’ve all heard about the $100 trillion global economy, but do you really know what that means? Sure, it sounds like a huge number, but what does it really look like when you put it in perspective?


To help visualize this enormous economic space, we’ve created an infographic that shows how our world economy stacks up against countries and the rest of the world in terms of population and gross domestic product (GDP).


Take a look at the chart below to see where your country falls on the spectrum!The World's Biggest Economy (United States)The United States has the largest economy in the world, with a GDP of over $19 trillion. The country is home to some of the world's biggest companies,


including Apple, Walmart, and ExxonMobil. The US also has a large service sector, accounting for over 80% of GDP. In comparison, China relies heavily on its manufacturing sector, which accounts for 40% of GDP.


The chart below shows the size of each country's service and manufacturing sectors relative to its GDP . Manufacturing jobs have been lost as a result of automation and globalization,


but it's clear that countries like India are shifting their economies away from agriculture towards services.While some parts of the US economy may be lagging behind (manufacturing), many areas are thriving (service).


The United States' Biggest Spending Areas
The United States is the largest economy in the world, with a GDP of over $19 trillion. The country's biggest spending areas are its military, healthcare,


and social welfare programs. Other large spending categories include infrastructure and education. As of 2016, the United States spends more on defense than China, Saudi Arabia, Russia, the U.K.,


India, France and Japan combined. Additionally, Americans spend more on their health care per capita than any other country in the world ($9453 per person). And finally,


by 2020 Social Security payments are projected to be higher than Medicare payments for the first time ever.


Other Top Economies
The United States is the largest economy in the world, followed by China, Japan, Germany, and India.


These five countries make up over 60% of the world's GDP. The United Kingdom, France, Italy, Brazil, and Canada round out the top ten.


The global distribution of wealth is heavily concentrated with the US representing 25%, Europe 35%, and Asia 15%. If you break down these percentages to individual countries, you can see that the US takes up a staggering 43% of all wealth globally.


Looking at a pie chart breakdown of income distribution from richest to poorest, you can see that in order for someone to be considered middle class (as defined as having between 67-200% more than the average person),


they need to live in North America or Western Europe. It's also interesting to note that even though more people are moving into poverty every year,


global poverty rates have actually been declining since 1990 due to technology growth which has helped many developing nations raise their standard of living.


How Does Your Country Compare?
The world economy is fascinating and incredibly complex. But what does it actually look like? This chart shows the relative size of each country's economy, based on GDP.


It starts with the largest, China, which is projected to have a 2018 GDP of $13.2 trillion (up from just over a trillion in 1999). Scrolling down the list you can see countries'


economies as they get smaller: United States at $19.3 trillion (up from just under two trillion), Germany at 3.1 trillion (up from just 300 billion), Russia at 2.1 trillion (up from 150 billion).


You'll also notice that some countries are grouped together - either because they share a currency or because their economies are highly interdependent due to geography or history - such as Brazil and Argentina, and India and Pakistan.


Where Do We Spend Our Money?
In 2016, the world economy was estimated to be worth around $100 trillion. That's a lot of zeroes! So where does all this money go? Let's take a look at a breakdown of where global spending occurs,


according to data from the World Bank. The numbers may surprise you! The majority of spending (around 67%) is done by households.Around 30% is spent by governments on goods and services like education and health care.


If we add up these numbers, it becomes clear that private consumption accounts for over two-thirds of the global economy.Governments are also big spenders when it comes to goods and services - with public consumption making up about one-third of total economic activity. What do you think is happening here?


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