The Global Economy’s 0.1% Club
The majority of the world’s nations produce less than 0.1% of global GDP.
June 16, 2014
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
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.
