Rating of world economies today. What place does Russia occupy in terms of the size of the economy in the world? By what indicators is it better to evaluate the country's economy in order to understand where people live better?

How to identify countries with strong economies among the huge number of countries in the world? To identify highly developed states, let's pay attention to the ratings - the results of comparative studies done by international experts and organizations to rank countries according to various indicators. Every year, studies are published showing which country has risen to the top, which has dropped. Let's consider the main indicators by which they determine which countries in 2019 became the most influential in the economic field, have the highest standard of living, prosperity and freedom.

Economic development level

The efficiency and maturity of the country's economy is assessed by the level of economic development. It is not for nothing that only countries with a high level of economic development are included in the group of developed ones, and the rest are called developing ones. This level is determined by various ratings.

Did you know that there are 252 countries in the world, each of which has its own unique living conditions? Moreover, among them there are states where even the most ordinary citizen practically does not need anything and lives a full and happy life. But there are also such lands where more than 90% of the population can hardly make ends meet. In this regard, it will be very appropriate to talk about the countries with the highest living standards in the world, in which everyone would dream of living. And to learn more about this, read the text below.

Country ranking by GDP

The key indicator is the level of the gross domestic product (GDP). This is the name for the total value of goods, services and other results of the activities of enterprises, firms, companies, institutions, organizations, individuals. This is the result of the work of all residents of the country in question during the year. It is calculated in two ways. The first is when all the income received for the year is added up: interest, profit, salary, and so on. The second is when expenditures are summed up (government purchases, investments, consumption, exports minus imports). The official source of such information is the World Bank database. Statistics are updated every year and published in the fall. The indicator is also kept by the International Monetary Fund and the UN.

The backbone of the global GDP is produced by only a few countries, mostly large in terms of territory and population.

If all goods and services produced in monetary terms (GDP) are absolute values, then by comparing the gross domestic product with the population, we obtain a relative indicator indicating the well-being of citizens.

According to the World Bank and the IMF, in 2014 the European Union has the best indicators of the level of GDP (18, 5 thousand dollars). Based on the countries, the first places in this indicator are occupied by:

№	The country	GDP, trillion$	GDP per capita, thousand $	Unemployment rate, %
1.	USA	17,348	54,370	6,2
2.	China	10,357	7,572	4,1
3.	Japan	4,602	36,222	3,6
4.	3,874	47,774	5,0
5.	Great Britain	2,950	45,729	6,2
6.	France	2,834	44,332	10,3
7.	Brazil	2,347	11,573	4,8
8.	Italy	2,148	35,335	12,7
9.	India	2,051	1,608	n / a
10.	the Russian Federation	1,861	12,718	5,2
11.	1,785	50,304	6,9
12.	1,443	61,066	6,1
13.	Spain	1,407	30,272	24,5
14.	0,881	52,225	7,4
15.	0,704	86,468	3,2
16.	Sweden	0,571	58,538	7,9
17.	Norway	0,500	96,930	3,5
18.	Austria	0,438	51,433	5,6
19.	Denmark	0,342	60,947	6,5
20.	0,308	56,287	2,0

The unemployment rate shows what part of the working-age population cannot find a job. This indicator indirectly characterizes the country's economy: the higher it is, the worse the quality of life of people and the economic situation in a certain territory.

Economic freedom

The most important indicator of a country's development is the level (or index) of economic freedom. It has been identified since 1995 by the American Heritage Foundation Research Center and published annually on its website and in the Wall Street Journal.

Based on the theories of Adam Smith, the experts of the Heritage Foundation define economic freedom as the level of non-interference of the state in the process of production, distribution and consumption, with the exception of situations when it is necessary to protect citizens.

The index is calculated according to the arithmetic mean of ten criteria of freedom - property, absence of corruption, government share in economic regulation, freedom of trade, investment, labor, entrepreneurship, monetary, fiscal, financial. For each of them, an assessment scale is developed from 0 to 100 points, which are eventually summed up. The higher the score, the higher the level of economic freedom.

Prosperity rating

The economic achievements of the countries of the world are also measured by the level of prosperity. This indicator is offered by the English analytical center "Legatum Institute". He has been calculating it since 2006. This index is determined by the level of public well-being of countries in the field of economic development, entrepreneurship, governance, health care, security, education, personal freedoms and social capital. Each of the eight criteria is calculated on the basis of statistical research by the United Nations, the World Bank, sociological data from the Gallup Institute and other authoritative centers. Based on the results of comparative studies, a rating of states is published annually. In 2019, such results were published in 142 countries of the world.

Norway, Switzerland, Denmark, New Zealand, Sweden, Canada, Australia and the Netherlands have the best indicators on the Prosperity Index.

Other indicators

There are other indicators by which the rating of a country's economic development is measured. This is the level of GDP per capita. It is not considered a strict characteristic, but it is considered an important indicator. According to the IMF list for October 2019, among the countries on this index, the leaders are:

Luxembourg
Qatar
Norway
Denmark
Iceland.

A more accurate characteristic is the level of the same indicator in terms of parity (the ratio of several currencies) of purchasing power per capita for a certain set of services or goods. Here the first places in 2014 were taken by:

Qatar
Luxembourg
Brunei
Kuwait
Norway
Emirates
San Marino

The Human Development Index, which has been published in the reports of the United Nations Development Program since 1990, is another traditional comparative indicator of the standard of living and the economy. A very high human development rating, according to the latest report of 2014, is for Norway, Australia, Switzerland, the Netherlands, USA, Germany, New Zealand, Canada, Singapore, Denmark.

Based on all these indicators, the strongest and most efficient economies in the world for 2019 are:

1. USA

When judged on a purchasing power parity basis, the United States yields first place to the People's Republic of China. This gap is expected to narrow by 2023, when the US reaches $ 24.53 trillion and China reaches $ 21.57 trillion.

Despite the relatively low employment rate of the population (68%), the median annual income of an American family is $ 38,000. The United States is one of the most economically developed countries on the planet. More than 86% of citizens are satisfied with their living conditions, safety level and economic stability. The average duration is 79 years.

USA ranked first in 2019 in terms of GDP

The most stable economy in the world belongs to the United States, it has held its leading position for over 100 years. A comprehensively developed economic policy is based on the banking system, the largest stock exchange, advanced technologies in the field of IT and agriculture, which is not devoid of innovative solutions and progress. America, due to its significant coverage of fields of activity and advanced technologies in them, has great influence in the world and uses it.

Hong Kong has no equal in terms of economic freedom

Australia ranks high on all counts

Among them are the famous automobile concerns Volkswagen, BMW, Daimler, chemical ones - Bayer, BASF, Henkel Group, Siemens conglomerate, energy companies E.ON and RWE or the Bosch group. Cities such as Hannover, Frankfurt and Berlin host the largest annual international exhibitions and congresses.

Germany is a leading manufacturer of wind turbines and a major developer of solar energy technologies in the world.

At the end of the 19th century, Great Britain, in an attempt to protect its market from second-rate imports, obliged to label German goods with the inscription "Made in Germany".

Now Germany is experiencing a real "boom" in the automotive industry. It owes this to its key sales market - China.

It is Germany that has the strongest economy among the rest of the EU countries.

Switzerland has always been characterized by economic stability, and 2019 was no exception

Canada does not lag behind its neighbor - the United States - in terms of economic development

The Netherlands is distinguished not only by a low crime rate, but also by a consistently strong economy.

New Zealand boasts not only scenic natural beauty, but also a high level of prosperity

Singapore is not lagging behind other economic giants in terms of indicators, and sometimes even ahead of them

10. Japan

Japan has a high degree of economic freedom: the government works closely with the manufacturer to stimulate its development. The main focus is on science and high technology. All this, as well as strict labor discipline, contribute to the recovery of the Japanese economy.

A distinctive feature of the country is "keiretsu" - associations of manufacturers, suppliers, distributors around powerful banks, as well as relatively weak international competition in domestic markets. In addition, there are many more social than production agreements: for example, a guarantee of life-long employment in large companies.

A small country with high discipline and hard work of citizens, which has made it possible to achieve great success in the field of technology and production. A high standard of living is recorded here and life-long employment of citizens is practiced, it is believed that the longer a person has worked in one place, the more prestigious it is. The country's banking sector is stable and developed, high technologies make it possible to compete on equal terms with America and China, and in the field of robotics, Japan has come out far ahead, overtaking the United States. GDP in Japan for 2019 amounted to 4.513 trillion dollars, which allowed it to take the honorable 3rd place among the leading countries in the world.

Japan - the land of the rising sun - was once the strongest state in terms of economic indicators, but in 2019 it is among the ten leaders

Corruption Perceptions Index

Since 1996, the ranking of the level of corruption has been recognized as the most important indicator of the state of the country's economy. The official name is the Corruption Perceptions Index. It was introduced by the international non-governmental organization "Transparency International". It takes into account how widespread corruption is in the public sector.

Interesting: the study is not based on statistics of criminal cases or sentences, but on the opinion of those who suffer from corruption or study this phenomenon.

To determine this index, a scale was developed from "zero" to "one hundred", where 0 means the maximum level of corruption, and 100 - its absence. Although the methodology by which the rating is determined has been the subject of criticism, in general it is recognized by the experts as relatively reliable. The latest study published in 2019 covers 174 countries.

Place	The country	2015	2014	2013
1	Denmark	92	91	90
2	91	91	90
3	Finland	89	89	90
4	Sweden	87	89	88
5	Norway	86	86	85
5	86	85	86
7	84	86	87
8	83	83	84
9	Luxembourg	82	80	80
10	81	81	84
11	80	81	85
12	79	78	79
12	Iceland	79	78	82
14	Great Britain	78	76	74
15	Belgium	76	75	75
15	Japan	76	74	74
17	Ireland	74	72	69
17	United States	74	73	73
23	Austria	72	69	69
26	Estonia	69	68	64
26	France	69	71	71
37	Spain	6o	59	65
69	Brazil	43	42	43
69	Italy	43	43	42
85	India	38	36	36
100	China	36	40	39
136	the Russian Federation	27	28	28

Credit ratings

The economic "health" of a country is also assessed by its financial or credit ratings. They are calculated taking into account the financial history of the state, the size of its property and capabilities, and the desire to pay debts. Such an index is needed in order to make it clear to potential lenders or investors how safe it is to deal with the country. Financial ratings are assessed by international agencies. Moody’s, Standard and Poor’s and Fitch have the most serious reputations. They work all over the world and help distinguish reliable partners from unreliable ones. Each of them has its own naming system, but in general, countries with a high degree of compulsion are designated by the letter A, medium and below - Ba, risky - B, with high risk and close to default - C.

	S&P	Forecast	Moody's	Forecast	Fitch	Forecast	TRADING ECONOMICS
Albania	B	positive	B1	stable			33	positive
Andorra	BBB-	negative					55	negative
Angola	B +	negative	Ba2	negative	B +	stable	38	negative
Argentina	SD	nm	Caa1	positive	RD		20	nm
Armenia			Ba3	negative	B +	stable	38	negative
Aruba	BBB +	stable			BBB-	stable	60	stable
AAA	stable	Aaa	stable	AAA	stable	97	stable
Austria	AA +	stable	Aaa	negative	AA +	stable	96	stable
Azerbaijan	BBB-	negative	Baa3	stable	BBB-	stable	55	negative
Bahamas	BBB-	negative	Baa2	stable			58	negative
Bahrain	BBB-	negative	Baa3	negative	BBB-	negative	55	negative
Bangladesh	BB-	stable	Ba3	stable	BB-	stable	40	stable
Barbados	B	negative	B3	negative			28	negative
Belarus	B-	stable	Caa1	negative			23	stable
Belgium	AA	stable	Aa3	stable	AA	negative	88	stable
Belize	B-	stable	Caa2	stable			20	stable
Bermuda	A +	stable	A1	stable			80	stable
Bolivia	BB	stable	Ba3	stable	BB	stable	44	stable
Bosnia and Herzegovina	B	stable	B3	stable			28	stable
Botswana	A-	stable	A2	stable			73	stable
Brazil	BB +	negative	Baa3	stable	BB +	negative	35	negative
Bulgaria	BB +	stable	Baa2	stable	BBB-	stable	52	stable
Burkina Faso	B-	stable					25	stable
Cambodia			B2	stable			30	stable
Cameroon	B	stable			B	stable	30	stable
AAA	stable	Aaa	stable	AAA	stable	99	stable
Cape Verde	B	stable			B	stable	30	stable
Cayman islands			Aa3	stable			85
Chile	AA-	stable	Aa3	stable	A +	stable	78	stable
China	AA-	stable	Aa3	stable	A +	stable	79	stable
Colombia	BBB	stable	Baa2	stable	BBB	stable	52	stable
Congo	B-	stable	B3	stable			25	stable
Costa Rica	BB	stable	Ba1	stable	BB +	negative	49	stable
Croatia	BB	negative	Ba1	negative	BB	negative	42	negative
Cuba			Caa2	positive			15	positive
Cyprus	BB-	positive	B1	stable	B +	positive	36	positive
Czech Republic	AA-	stable	A1	stable	A +	stable	80	stable
Denmark	AAA	stable	Aaa	stable	AAA	stable	99	stable
Dominican Republic	BB-	stable	B1	stable	B +	positive	36	stable
Ecuador	B	stable	B3	stable	B	stable	29	stable
Egypt	B-	stable	B3	stable	B	stable	28	stable
Salvador	B +	stable	Ba3	negative	B +	stable	36	stable
Estonia	AA-	stable	A1	stable	A +	stable	81	stable
Ethiopia	B	stable	B1	stable	B	stable	31	stable
European Union	AA +	negative					95	negative
Fiji	B +	stable	B1	stable			35	stable
Finland	AA +	negative	Aaa	negative	AAA	negative	98	negative
France	AA	negative	Aa2	stable	AA	stable	89	negative
Gabon	B +	negative	Ba3	stable	B +	stable	36	negative
Georgia	BB-	stable	Ba3	positive	BB-	stable	40	stable
AAA	stable	Aaa	stable	AAA	stable	99	stable
Ghana	B-	stable	B3	negative	B	negative	28	stable
Greece	CCC +	stable	Caa3	stable	CCC		9	stable
Guatemala	BB	stable	Ba1	negative	BB	stable	46	stable
Honduras	B +	stable	B3	positive			30	stable
AAA	stable	Aa1	stable	AA +	stable	94	stable
Hungary	BB +	stable	Ba1	stable	BB +	positive	46	stable
Iceland	BBB	stable	Baa2	stable	BBB +	stable	57	stable
India	BBB-	stable	Baa3	positive	BBB-	stable	47	stable
Indonesia	BB +	positive	Baa3	stable	BBB-	stable	45	positive
Iraq	B-	stable	Caa1	stable	B-	stable	24	stable
Ireland	A +	stable	Baa1	positive	A-	positive	70	stable
Isle Of Man			Aa1	stable			95	stable
Israel	A +	stable	A1	stable	A	stable	75	stable
Italy	BBB-	stable	Baa2	stable	BBB +	stable	59	stable
Ivory Coast			Ba3	stable	B +	stable	38	stable
Jamaica	B	stable	Caa2	positive	B-	positive	24	stable
Japan	A +	stable	A1	stable	A	stable	77	stable
Jordan	BB-	stable	B1	stable			38	stable
Kazakhstan	BBB	negative	Baa2	stable	BBB +	stable	63	negative
Kenya	B +	negative	B1	stable	B +	negative	20	negative
Kuwait	AA	stable	Aa2	stable	AA	stable	90	stable
Kyrgyzstan	B	stable	B2	stable			30	stable
Latvia	A-	stable	A3	stable	A-	stable	69	stable
Lebanon	B-	negative	B2	negative	B	negative	29	negative
Lesotho					BB-	negative	40	negative
Liechtenstein	AAA	stable					100	stable
Lithuania	A-	stable	A3	stable	A-	stable	68	stable
Luxembourg	AAA	stable	Aaa	stable	AAA	stable	100	stable
Macau			Aa2	stable	AA-	stable	88	stable
Macedonia	BB-	stable			BB +	negative	45	stable
Malaysia	A-	stable	A3	positive	A-	stable	66	stable
Malta	BBB +	positive	A3	stable	A	stable	71	positive
Mauritius			Baa1	stable			65
Mexico	BBB +	stable	A3	stable	BBB +	stable	60	stable
Moldova			B3	negative			25	negative
Mongolia	B	stable	B2	negative	B	stable	30	stable
Montenegro	B +	stable	Ba3	negative			38	stable
Morocco	BBB-	stable	Ba1	stable	BBB-	stable	54	stable
Mozambique	B-	negative	B2	rur	B	stable	29	negative
Namibia			Baa3	stable	BBB-	stable	55	stable
AAA	stable	Aaa	stable	AAA	stable	99	stable
AA	stable	Aaa	stable	AA	positive	89	stable
Nicaragua			B2	stable	B +	stable	33	stable
Nigeria	B +	stable	Ba3	stable	BB-	negative	22	stable
Norway	AAA	stable	Aaa	stable	AAA	stable	98	stable
Oman	BBB +	negative	A1	negative			73	negative
Pakistan	B-	positive	B3	stable	B	stable	19	positive
Panama	BBB	stable	Baa2	stable	BBB	stable	60	stable
Papua New Guinea	B +	negative	B1	negative			35	negative
Paraguay	BB	positive	Ba1	stable	BB	stable	46	positive
Peru	BBB +	stable	A3	stable	BBB +	stable	59	stable
Philippines	BBB	stable	Baa2	stable	BBB-	positive	54	stable
Poland	A-	positive	A2	stable	A-	stable	68	positive
Portugal	BB +	stable	Ba1	stable	BB +	positive	47	stable
Puerto Rico	CCC-	negative	Caa3	negative			10	negative
Qatar	AA	stable	Aa2	stable	AA	stable	87	stable
Republic of the Congo	B	stable	Ba3	negative	B +	stable	35	stable
Romania	BBB-	stable	Baa3	positive	BBB-	stable	51	stable
Russia	BB +	negative	Ba1	stable	BBB-	negative	43	negative
Rwanda	B +	stable			B +	stable	35	stable
San Marine					BBB +	stable	65	stable
Saudi Arabia	A +	negative	Aa3	stable	AA	negative	86	negative
Senegal	B +	stable	B1	positive			35	stable
Serbia	BB-	negative	B1	stable	B +	positive	36	negative
Seychelles					BB-	stable	40	stable
AAA	stable	Aaa	stable	AAA	stable	97	stable
Slovakia	A +	stable	A2	stable	A +	stable	78	stable
Slovenia	A-	positive	Baa3	stable	BBB +	positive	62	positive
Solomon islands			B3	stable			25	stable
South Africa	BBB-	negative	Baa2	negative	BBB-	stable	46	negative
South Korea	AA-	stable	Aa2	stable	AA-	stable	84	stable
Spain	BBB +	stable	Baa2	positive	BBB +	stable	62	stable
Sri Lanka	B +	stable	B1	stable	BB-	stable	38	stable
Saint Vincent and the Grenadines			B3	negative			25	negative
Suriname	BB-	stable	Ba3	stable	BB-	stable	40	stable
Sweden	AAA	stable	Aaa	stable	AAA	stable	99	stable
AAA	stable	Aaa	stable	AAA	stable	100	stable
Taiwan	AA-	stable	Aa3	stable	A +	positive	81	stable
Thailand	BBB +	stable	Baa1	stable	BBB +	stable	62	stable
Trinidad and Tobago	A	stable	Baa2	negative			68	stable
Tunisia			Ba3	stable	BB-	stable	40	stable
Turkey	BB +	negative	Baa3	negative	BBB-	stable	43	negative
Uganda	B	stable	B1	negative	B +	stable	34	stable
Ukraine	B-	stable	Caa3	stable	RD		18	stable
United Arab Emirates	AA	stable	Aa2	stable	AA	stable	90	stable
Great Britain	AAA	negative	AA1	stable	AA +	stable	94	negative
United States	AA +	stable	Aaa	stable	AAA	stable	97	stable
Uruguay	BBB	stable	Baa2	stable	BBB-	stable	58	stable
Venezuela	CCC	negative	Caa3	stable	CCC		6	negative
Vietnam	BB-	stable	B1	stable	BB-	stable	32	stable
Zambia	B	stable	B2	stable	B	stable	30	stable

Rating	Rating value

AAA	least risk, maximum creditworthiness
AA +	moderate risk, very high creditworthiness, first tier
AA	moderate risk, very high creditworthiness, second level
AA-	moderate risk, very high creditworthiness, third level
A	moderate risk, high creditworthiness, second level
A-	moderate risk, high creditworthiness, third level
BBB +	moderate risk, sufficient creditworthiness, first level
BBB	moderate risk, sufficient creditworthiness, second level
BBB-	moderate risk, sufficient creditworthiness, third level
CCC	high risk and threat of default, significant credit risk

Index with a "human face"

The last few years have demonstrated the importance of such an indicator of economic development as social progress. Therefore, in 2013, an index of social progress was developed as an alternative to economic indicators. Its author is Michael Porter, professor at Harvard University. This rating is calculated based on the analysis of opinion polls, expert opinions and statistical information from international organizations. In determining the achievements of each country in this area, the researchers took into account more than fifty factors.

This is the satisfaction of basic needs - food, water and medical care, housing, the degree of personal safety.
The fundamental pillars of well-being are then taken into account - access to education and information, literacy and communication.
And, finally, the possibilities of development are analyzed - the level of protection of civil and political rights and self-realization is determined.

№	The country	ISP	Basic human needs	Fundamentals of well-being	Opportunities for development
1.	Norway	88,36	94,80	88,46	81,82
2.	Sweden	88,06	94,83	86,43	82,93
3.	87,97	95,66	86,5	81,75
4.	Iceland	87,62	95	86,11	81,73
5.	87,08	92,87	82,77	85,61
6.	86,89	94,89	79,22	86,58
7.	Finland	86,75	95,05	82,58	82,63
8.	Denmark	86,63	96,03	82,63	81,23
9.	86,5	94,8	83,81	80,88
10.	86,42	93,73	79,98	85,55
11.	Great Britain	84,68	92,22	79,04	82,78
12.	Ireland	84,66	93,68	76,34	83,97
13.	Austria	84,45	95,04	82,53	75,77
14.	84,04	94,12	81,5	76,49
15.	Japan	83,15	95,01	78,78	75,66
16.	USA	82,85	91,23	75,15	82,18
20.	Spain	81,17	91,09	76,79	75,62
21.	France	80,82	91,16	78,83	72,46
23.	Estonia	80,49	88,44	79,61	73,42
31.	Italy	77,38	88,39	77	66,76
42.	Brazil	70,89	71,14	76,21	65,33
71.	the Russian Federation	63,64	74,1	67,63	49,19
92.	China	59,07	73,74	65,4	38,08
101.	India	53,06	58,87	57,38	42,93

It is clear from the research findings we have analyzed that there is a direct link between economic freedom, financial security, living standards, and social progress. Countries such as New Zealand, Australia, Canada, Switzerland, Norway, the Netherlands are leading among those who provide their citizens with a decent standard of living while respecting civil and political rights, as well as honestly paying the bills. Little Asian "tigers": Singapore or Hong Kong, as well as oil "millionaires" (UAE, Qatar) "ahead of the rest" in terms of economic freedom and per capita income. But countries with strong and efficient economies - the USA, China, Japan, Great Britain, Germany - are distributed in the ranking at different positions, because they are far from always able to provide people living there with a high level of income and opportunities for development.

GDP - Gross Domestic Product. In simple terms, this is an indicator of the value of goods and services produced by a particular state. . These are all products and services produced in the state, which are expressed in monetary terms. This indicator is often expressed in US dollars due to the fact that the US dollar is one of the most stable currencies in the world.

Today, two types of GDP are distinguished:

Nominal is the total volume of products and services produced, measured in current prices, that is, in values that are relevant at the moment.
Real GDP is the total volume of goods and services produced for a certain period of time, measured in basic values. The base values are called constant prices.

The difference between nominal and real GDP is that real GDP can only be affected by a change in the volume of goods produced. At the same time, the change in the indicator of nominal GDP is directly affected by the price of goods and services sold.

The ratio of the nominal to the real indicator in the economy is called the GDP deflator.

In other words, the deflator is a measure of the difference in the overall value of an economic industry.

We divide the total volume of GDP by the number of citizens living in the state.

The most developed states

The most developed countries in the world in 2019-2020 according to the UN rating of countries were 5 states.

USA

US GDP - $ 20.494 trillion. The USA received such a high GDP indicator thanks to its national currency - the dollar. This currency is used all over the world and is considered one of the most stable.

America has entered the ranking of the countries with the highest GDP levels thanks to corporations such as Microsoft and Google. Every year in America, the country's GDP grows at a rate of 2.2%. The figure for one person is $ 62,605.

China

China with a GDP of USD 13.608 trillion. China does not leave its positions and still remains one of the leading economies in the world. According to forecasts of economists and financial analysts, China has every opportunity to oust the United States of America soon. This is possible due to the intensive growth in the value of GDP. The share of GDP in China is growing by 10% annually.

Japan

Japan ranks third. Despite the fact that economists predict that Japan will partially stop the growth of indicators, this country of the world today has a GDP of 4.970 trillion dollars.

According to statistics, the share of GDP of this republic is increasing by 1.5%. The increase in indicators is due to the established export of cars, household appliances, computers and other electronic goods. In this country, GDP per capita is $ 39,309.

Germany

The fourth place is occupied by Germany with a GDP of 3.996 trillion US dollars per year. The country was able to achieve such indicators thanks to the export of Volkswagen cars, industrial equipment and household appliances. Compared to the previous year, the share of the gross domestic product in Germany increased by 0.4%. GDP per capita is USD 48,264.

Great Britain

The last place in the top 5 developed countries of the world was taken by Great Britain. The level of the indicator at around $ 2.825 trillion allowed the UK to oust France.

Table: top 20 countries in the world in terms of GDP after 5 developed countries of the planet in 2019 according to the UN

The name of the country	GDP (expressed in billions of US dollars)
France	2,777
India	2,726
Italy	2,073
Brazil	1,868
Canada	1,712
Russia	1,657
South Korea	1,619
Australia	1,432
Russia	1132.7
Spain	1,426
Mexico	1,223
Indonesia	1,042
Netherlands	913
Saudi Arabia	782
Turkey	766
Switzerland	705
Poland	585
Sweden	551
Belgium	531
Argentina	518

Indicators in the EU countries

The European Union is a very powerful and unique economic structure. In 2020.

GDP of the countries of the world for 2019

Top 10 most economically developed countries of the European Union (2018 IMF statistics):

The most developed country in the world, a member of the European Union, is Luxembourg. Despite its small area, this country has an incredibly strong economy, as evidenced by the GDP per capita, which was equal to 114,234 USD in 2018.
Switzerland ranks second. This country has a GDP per capita of 82,950 USD.
Norway ranks third. The size of GDP per capita is equal to 81694 USD.
In Ireland, the GDP per capita is 81,694 USD.
Iceland has an indicator at the level of 74278 USD.
In Denmark, the gross domestic product is 60692 USD.
According to statistics in Finland, the level of GDP is 38,100 USD.
Sweden ranks eighth with a GDP of 53,873.
The Netherlands is experiencing a GDP growth rate. In 2018, this figure was 53,106.
Austria ranks tenth with 51509.

Table: the level of GDP of some EU countries per capita

The "weakest" states

Forex technical analysis economists have conducted research on the forecast of GDP growth and decline for 2020. According to the findings, the list of countries with weak economies in 2020 will consist of states such as:

Forecast of the dynamics of GDP growth in other countries of the world

Table: List of Countries Expected to Increase GDP in 2020

Name of the republic	Expected growth (expressed in%)	The likelihood of an economic crisis (expressed in%)
India	7.4	0
Vietnam	6.6	0
China	6.5	12
Sri Lanka	6.4	0
Philippines	6.0	5
Dominican Republic	5.4	0
Indonesia	5.2	10
Malaysia	4.5	10
Bolivia	3.9	20
Peru	3.8	10
Romania	3.8	10
Poland	3.5	5
Albania	3.5	0
Slovakia	3.3	8
Thailand	3.2	5
Iceland	3.1	0
Turkey	3.0	20
Bosnia	3.0	0
South Korea	2.9	18
Colombia	2.8	8
Mexico	2.8	10
Sweden	2.8	10
Spain	2.7	5
Czech	2.7	10
Australia	2.6	15
Bulgaria	2.5	10
United States of America	2.5	15
Armenia	2.5	0
Hungary	2.4	0
New Zealand	2.3	13
Great Britain	2.3	13
Uruguay	2.0	25
Kazakhstan	2.0	33
Taiwan	2.0	55
Germany	1.8	8
Canada	1.8	25
Serbia	1.6	18
France	1.4	10
Norway	1.4	15
Ukraine	1.4	60
South Africa	1.4	25
Italy	1.3	13
Denmark	1.9	0
Kuwait	1.9	0
Chile	2.3	5
Azerbaijan	2.4	0

In the EU countries, the GDP level is expected to rise by 1.7%. At the same time, the probability of a recession is 15%.

The growth of GDP during the crisis, the state of the economy, the increase in the average wage are the factors that allowed some countries to maintain leading positions in the quality of life of the population. By the end of 2016, which states have become more comfortable for life, which ones have left the TOP-10 and which ones are still the countries of dreams? About this - in our article!

A good country is a healthy country. According to the data of the World Health Organization (WHO), the UN and the World Bank, the TOP-10 states with the healthiest population looks like this:

Iceland. Its primacy is due to the maximum number of health workers (more than 3.6 per 1,000 population), the minimum number of people diagnosed with tuberculosis (only 2 per 1,000 people) and the highest life expectancy in the world (more than 72 years for men and 74 for women).
Singapore. The minimum number of people suffering from obesity (1.8%) and high life expectancy (average - 82 years) allowed this city-state to take a high place in the ranking.
Sweden. The small number of tuberculosis patients (only 3 per 1,000 people), coupled with the minimum infant mortality, allowed her to take the honorable 2nd place.
Germany. More than 11% of the state's GDP goes to healthcare (Germany spends more than 3500 euros annually for the treatment of citizens).
Switzerland. The high place in the rating is due to the large number of doctors (3.6 per 1,000 people)
Andorra. Health spending in Andorra is more than 8% of GDP, and the average life expectancy of the population is over 82 years.
Great Britain. This country is the only state in the West, which owns 95% of the medical facilities operating on its territory. More than 9.8% of GDP is spent on healthcare.
Finland. In this country, about 300 people fall ill with tuberculosis / year, while annually 30 thousand people are diagnosed with cancer (over 75% of patients are completely cured).
Netherlands. The country has a low incidence of tuberculosis (5.4 people per 1,000 inhabitants) and a sufficient life expectancy - more than 81 years.
Canada. The Medicare health care system is the pride of this North American state, because it guarantees almost free medical care to every inhabitant. Expenditures on health care account for over 10% of GDP, and the life expectancy of citizens exceeds 80 years.

The worst countries in terms of health of citizens are African states: Swaziland, Somalia, South Sudan, Chad, Central African Republic, Mali, etc. The rating is compiled on the basis of data from researchers from the University of Seattle and the Bloomberg news agency.

WHO uses a special indicator to determine the quality of health care - life expectancy at birth. According to the rating of the World Health Organization, Russia takes 110th place in terms of the level of medical care. And although the health care system leaves much to be desired, the Russian Federation is ahead of other CIS countries, such as Kazakhstan (111th place), Tajikistan (115), Armenia (116), Uzbekistan (117), Ukraine (151), losing only to the Republic of Belarus (98th place) ...

TOP 10 countries ideal for business

A strong economy is unthinkable without a successful business. In 2016, Forbes compiled a list of countries that are most convenient for doing business. It is noteworthy that 6 out of 10 participants in the rating are EU countries:

Sweden;
New Zealand;
Hong Kong;
Ireland;
Great Britain;
Denmark;
Netherlands;
Finland;
Norway;
Canada.

The American edition has been forming the rating for 11 years, taking into account the level of bureaucracy, the size of taxes, corruption, economic growth, financial and personal freedom of citizens - in total 11 factors were taken into account. Sweden was in the top ten for 7 of them, because its economy grew by 4.2 percent at the end of the year with a GDP of 493 billion US dollars. The data for the assessment were obtained from the reports of the World Bank, the World Economic Forum, Transparency International, an international non-governmental organization against corruption, and others.

In terms of economic development, Russia took 40th place, and in terms of the complexity of starting a business, it was in 26th position. The RF ranked 30th in terms of electricity availability, 44th in credit availability, 45th in terms of taxation, and 115th in terms of the complexity of obtaining construction rights. According to the World Bank, the ideal country for business (without taking into account additional criteria, be it economic growth) - New Zealand, because in it "paying taxes is as easy as writing a check."

The most prosperous countries in the world

Well, where we do not? British non-profit organization The Legatum Institute has published a world ranking study of the most prosperous countries in the world. The most "prosperous" countries are determined taking into account economic and social indicators, business opportunities, education and health care levels, social capital and personal freedoms of citizens. The experts rated 149 countries, giving them scores in the range of 0-10 according to 89 criteria.

Based on the results of the analysis carried out in 2016, the following rating was compiled:

New Zealand (prosperity index - 79.28);
Norway (78.66)
Finland (78.56)
Switzerland (78.10);
Canada (77.67);
Australia (77.48);
Netherlands (77.44);
Sweden (77.43);
Denmark (77.37);
UK (77.18).

The purpose of this study is to study the public welfare of the states of the world on a global scale. The Prosperity Index is a composite measure of the achievement of states in terms of well-being. In this list, Russia occupies 95th position (prosperity index - 54.73). The closest "neighbors" in the rating are Nepal and Moldova (94th and 96th places, respectively). Among the CIS countries, Russia has the best indicators: 25th place for the quality of education, 56th for environmental safety, 69th for entrepreneurship.

Russia's achievements are obvious - every year it moves to the top lines of the rating. At the same time, the results should be viewed through the prism of political sentiments: in the report of the Legatum Institute, the liberal clichés "Putin's Russia", "Soviet legacy", "communist past", etc. are repeatedly used. When compiling the rating, the British organization uses survey data from the previous year, which does not allow 100% to objectively reflect the reality.

Ranking of countries in the world in terms of living standards

The United Nations (UN) has published a report on the quality of life of people around the world since 1990. The ranking is based on the Human Development Index, or Humanity Development Index (HDI). This index allows you to measure the achievements of states in the field of health care, incomes of the population, education, social services, etc.

The report was last published in 2015, and the best countries to live in were distributed in the UN ranking as follows:

Norway (0.94);
Australia (0.935)
Switzerland (0.93);
Denmark (0.923);
Netherlands (0.922);
Germany (0.916);
Ireland (0.916);
United States of America (0.916);
Canada (0.913);
New Zealand (0.913).

Russia is one of the countries with a high human development index (0.798) on a par with Belarus. Our country is slightly ahead of Oman, Romania, Uruguay, slightly behind Montenegro. The countries with the worst HDI index are located in Africa: these are Niger, CAR, Eritrea, Chad, Burundi, Burkina Faso, Guinea, Sierra Leone, Mozambique and Mali.

Denmark (201.53);
Switzerland (196.44);
Australia (196.40);
New Zealand (196.09)
Germany (189.87);
Austria (187);
Netherlands (186.46);
Spain (184.96);
Finland (183.98);
United States of America (181.91).

The index was calculated without using government data and official reports, so it can be considered subjective and depoliticized. For the calculations, a formula was used that takes into account such factors as the purchasing power of the population, the ratio of the cost of real estate to the income of citizens, safety and cost of living, the quality of health care, climate and even the situation on the roads (the less traffic jams, the better).

Russia ranks 55th on this list with a quality of life index of 86.53. It is slightly ahead of Ukraine and slightly inferior to Egypt and Singapore. Russia has shown quite good results in the real estate sector: the housing affordability index is 13.3 (this is only slightly more than that of Austria, France, Estonia, South Korea). The purchasing power index of Russians is half that of the citizens of the leading countries on the list - only 52.6. But the cost of living index in Russia is one of the lowest (35.62). For comparison: in Switzerland it is 125.67, in Norway - 104.26.

The table of indices that determine the position of the listed countries looks like this:

The country	Citizens' purchasing power index	Sane safeguarding	The ratio of the cost of housing and income of the population
Denmark	135.24	78.21	6.33
Switzerland	153.90	69.93	9.27
Australia	137.26	74.14	7.54
New Zealand	108.61	72.17	6.80
Germany	136.14	76.02	7.23
Austria	103.54	78.80	10.37
Netherlands	120.12	69.19	6.47
Spain	94.80	76.55	8.70
Finland	123.42	74.80	7.99
United States	130.17	68.18	3.39

Along with a high standard of living, relative affordability of housing, high purchasing power of citizens, the leading countries in terms of living standards are also the most expensive to live in. The ranking of the most expensive countries to live in looks like this:

Switzerland - 126.03;
Norway - 118.59;
Venezuela - 111.51;
Iceland - 102.14;
Denmark - 100.06;
Australia - 99.32;
New Zealand - 93.71;
Singapore - 93.61;
Kuwait - 92.97;
Great Britain - 92.19.

TOP-10 is compiled on the basis of data from the research company Movehub (Great Britain). The index used (the Consumer Price Index, or CPI) takes into account the cost of food, utilities, transportation, gasoline and entertainment. An interesting fact: the index reflects the ratio of the cost of living in New York (if it is 80, then living in the country is 20% cheaper than in the Big Apple).

The most accessible for life are mainly the countries of Asia and Africa: India, Indonesia, Bangladesh, Pakistan, Nepal, Egypt, Algeria. The states of Europe and North America are still attractive, but quite expensive to live in. The attractiveness is due to the excellent quality of medical and educational services. The best universities in the world are located on their territory: Harvard, Princeton and Yale Oxford and Cambridge universities.

Many leaders of the listed ratings are countries with excellent ecology. According to Forbes, Switzerland, Sweden and Norway are the three cleanest and most favorable countries to live in in terms of climate and ecology. On their territory, there are practically no harmful industries, and endless green meadows, mountains and the purest natural reservoirs make living and resting in them as beneficial to health as possible.

Note that many states are absolute leaders who have distinguished themselves in all respects. Thus, Norway, Iceland and Sweden can be safely called ideal for living, working and tourism. And which countries, in your opinion, have provided their citizens with optimal living conditions and the highest possible standard of living? Share your personal experience and opinions in the comments!

We are looking forward to your feedback, reposts and comments, thank you.

The United States has the most developed economy in the world. China, Japan and Germany follow.

Rating	Economy	GDP ($ million)
	The whole world	85,804,390.60
1	United States of America	20,494,100.00
2	China	13,608,151.86
3	Japan	4,970,915.56
4	Germany	3,996,759.29
5	United Kingdom	2,825,207.95
6	France	2,777,535.24
7	India	2,726,322.62
8	Italy	2,073,901.99
9	Brazil	1,868,626.09
10	Canada	1,712,510.03
11	Russia	1,657,553.77
12	South Korea	1,619,423.70
13	Australia	1,432,195.18
14	Spain	1,426,189.14
15	Mexico	1,223,808.89
16	Indonesia	1,042,173.30
17	The netherlands	913,658.47
18	Saudi arabia	782,483.47
19	Turkey	766,509.09
20	Switzerland	705,501.30
21	Poland	585,782.87
22	Sweden	551,031.68
23	Belgium	531,766.94
24	Argentina	518,475.13
25	Thailand	504,992.76
26	Venezuela	482,359.32
27	Austria	455,736.58
28	Iran	454,012.77
29	Norway	434,750.94
30	United Arab Emirates	414,178.90
31	Nigeria	397,269.62
32	Ireland	382,487.49
33	Israel	369,690.44
34	South Africa	368,288.20
35	Singapore	364,156.66
36	Hong Kong	362,992.54
37	Malaysia	354,348.42
38	Denmark	352,058.41
39	Philippines	330,910.34
40	Colombia	330,227.87
41	Pakistan	312,570.06
42	Chile	298,231.14
43	Bangladesh	274,024.96
44	Finland	273,960.97
45	Egypt	250,895.47
46	Czech	245,225.88
47	Vietnam	244,948.45
48	Romania	239,552.52
49	Portugal	237,978.94
50	Iraq	225,914.18
51	Peru	222,237.57
52	Greece	218,031.84
53	New zealand	205,024.94
54	Qatar	192,009.34
55	Algeria	180,689.12
56	Kazakhstan	170,538.87
57	Hungary	155,703.07
58	Kuwait	141,677.81
59	Ukraine	130,832.37
60	Morocco	118,495.33
61	Ecuador	108,398.06
62	Slovakia	106,472.19
63	Angola	105,750.99
64	Puerto Rico	101,130.90
65	Cuba	96,851.00
66	Sri Lanka	88,900.77
67	Kenya	87,908.26
68	Ethiopia	84,355.46
69	Dominican Republic	81,298.59
70	Oman	79,294.93
71	Guatemala	78,460.45
72	Myanmar	71,214.80
73	Luxembourg	69,487.92
74	Ghana	65,556.46
75	Bulgaria	65,132.95
76	Panama	65,055.10
77	Croatia	60,805.66
78	Costa Rica	60,126.01
79	Belarus	59,662.50
80	Uruguay	59,596.89
81	Tanzania	57,437.07
82	Lebanon	56,639.16
83	Macau	54,545.18
84	Slovenia	54,235.48
85	Lithuania	53,251.37
86	Serbia	50,508.37
87	Uzbekistan	50,499.92
88	Libya	48,319.62
89	Democratic Republic of the Congo	47,227.54
90	Azerbaijan	46,939.53
91	Ivory Coast	43,007.05
92	Jordan	42,290.83
93	Sudan	40,851.54
94	Paraguay	40,842.34
95	Turkmenistan	40,761.14
96	Bolivia	40,287.65
97	Tunisia	39,860.72
98	Cameroon	38,502.06
99	Bahrain	37,746.20
100	Latvia	34,849.08
101	Zimbabwe	31,000.52
102	Estonia	30,284.89
103	Nepal	28,812.49
104	Uganda	27,476.95
105	Yemen	26,914.40
106	Zambia	26,720.07
107	El salvador	26,056.95
108	Iceland	25,882.22
109	Cambodia	24,571.75
110	Cyprus	24,469.84
111	Senegal	24,129.60
112	Honduras	23,803.23
113	Papua New Guinea	23,431.60
114	Trinidad and Tobago	23,410.35
115	Bosnia and Herzegovina	19,781.78
116	Afghanistan	19,362.97
117	Botswana	18,616.02
118	Laos	18,130.72
119	Mali	17,196.69
120	Gabon	17,017.40
121	Georgia	16,209.82
122	Jamaica	15,717.86
123	Albania	15,058.88
124	Palestine	14,615.90
125	Malta	14,542.04
126	Namibia	14,521.71
127	Mozambique	14,457.96
128	Burkina Faso	14,441.76
129	Mauritius	14,220.35
130	Brunei	13,567.10
131	Equatorial Guinea	13,317.45
132	Nicaragua	13,117.86
133	Mongolia	13,009.57
134	Macedonia	12,672.13
135	Armenia	12,433.09
136	Bahamas	12,162.10
137	Madagascar	12,100.46
138	Moldova	11,309.08
139	Chad	11,302.54
140	Congo	11,263.68
141	Guinea	10,989.79
142	Benin	10,358.99
143	Haiti	9,658.08
144	Rwanda	9,509.00
145	Niger	9,239.51
146	Kyrgyzstan	8,092.84
147	Kosovo	7,900.27
148	Tajikistan	7,522.95
149	Malawi	7,064.97
150	Isle Of Man	6,592.63
151	Monaco	6,400.95
152	Liechtenstein	6,214.63
153	Guam	5,859.00
154	Fiji	5,479.50
155	Montenegro	5,452.17
156	Mauritania	5,365.87
157	Togo	5,300.21
158	Maldives	5,272.29
159	Somalia	4,721.00
160	Swaziland	4,703.79
161	Barbados	4,673.50
162	Sierra leone	3,999.95
163	American virgin islands	3,855.00
164	Guyana	3,610.44
165	Cayman islands	3,570.58
166	Suriname	3,427.27
167	Liberia	3,249.00
168	Andorra	3,236.54
169	Curacao	3,116.61
170	Burundi	3,078.03
171	South Sudan	3,070.89
172	Lesotho	2,791.76
173	Greenland	2,713.53
174	Aruba	2,700.56
175	Faroe islands	2,689.16
176	Eritrea	2,607.74
177	Timor-Leste	2,581.00
178	Butane	2,534.97
179	Central African Republic	2,379.72
180	Cape Verde	1,986.93
181	Djibouti	1,965.98
182	Belize	1,925.00
183	Saint Lucia	1,876.19
184	San Marino	1,632.86
185	Gambia	1,624.46
186	Antigua and Barbuda	1,623.80
187	Northern Mariana Islands	1,593.00
188	Seychelles	1,590.18
189	Guinea-Bissau	1,458.16
190	Solomon islands	1,411.90
191	Grenada	1,207.45
192	Comoros	1,203.08
193	Saint Kitts and Nevis	1,039.88
194	Turks and Caicos Islands	1,022.31
195	Vanuatu	887.82
196	Samoa	861.49
197	Saint Vincent and the Grenadines	813.09
198	Eastern Samoa	634.00
199	Dominica	503.65
200	Tonga	450.35
201	Sao Tome and Principe	422.30
202	Micronesia	344.50
203	Palau	310.11
204	Marshall islands	211.52
205	Kiribati	188.28
206	Nauru	114.72
207	Tuvalu	42.59

Each individual country has its own economic policy, which inherently has both strengths and weaknesses. If the state is rich in minerals, then most often the economy is based on the export of resources, which weakens the production component.

10 largest world economies in 2018

USA

America, due to its significant coverage of fields of activity and advanced technologies in them, has great influence in the world and uses it.

The dollar has been the world currency for many years and is quoted in all countries. for 2019 amounted to $ 20.494 trillion, which makes it possible to understand: why the US economy is the first, leading the rating.

China

The fastest growing economy, capable of soon squeezing America and moving it from its leading position in the TOP of the largest economies in the world. Industry, agriculture and technology are actively expanding in China. The automotive market is larger than the American and Japanese combined.

Chinese clothing and equipment enter the markets of most countries, exports are very developed in all directions. China provides food for 1/5 of the world's population, while using only 9% of the land designated for agriculture.

Annual GDP growth is 10%, which gives cause for concern in America. is represented in the TOP of the world's economies in the person of China, as the strongest and most developed country, the rest of Asia has weaker indicators.

Despite the crisis that Europe has been experiencing in recent years, it is still stable on its feet and provides itself with annual GDP growth, which at the moment amounted to $ 3.996 trillion.

Great Britain

The economy of Western Europe, represented by the participating countries, presents a vague picture, but the undisputed leader is, which entered the overall rating for all countries of the planet. The country is poor in natural resources, so its economic policy is based on services, industry and tourism.

In terms of industry, the leaders are the following areas: aviation and pharmaceuticals, as well as the automotive and textile industries. The UK attracts investment injections from business representatives from other countries with its liberal banking policy, which allows money laundering.

But in 2018, the country leaves the structure, and experts find it difficult to guess: what damage will it bring to the state's economy and how its position in the world will change.

What can be found on our website.

France

The economic position of the country has been achieved thanks to the industrial and agrarian policy. At the expense of agriculture, France provides products to the EU countries, ¼ part of all supplies falls on the share of this state.

The best rates for the country’s attendance were achieved largely due to the Eiffel Tower, its recognition and the atmosphere of romance associated with it.

But having a high attendance of the country, it does not come out on tourism. The fact is that the funds left by tourists in the state have a smaller volume compared to America, this is due to the fact that tourists do not stay in France, but after seeing the main attraction, they leave for neighboring countries. France's GDP is currently $ 2.777 trillion.

You can visit our website.

How the world GDP changed from 1970 to 2016 in nominal and constant prices relative to 1970. You can read this and a lot of other interesting information in this article. Where there is no data for 2016, data are indicated for 2013 and there is a mention of this.

For the period 1970-2016 World GDP grew from 3398.7 to 75212.7 and increased by 71817 billion US dollars, or 22.13 times; the change took place due to the increase in the world population from 3692 to 7456 million people, i.e. the population grew by 3764 million people. or 2.02 times as compared to 1970. It also grew due to an increase in GDP per capita in the world, which in 1970 was $ 921, and already in 2016 was $ 10167. The average annual growth of the world's GDP during this period amounted to 1561.2 billion dollars.

During 1970-2016. Per capita GDP in the world increased by $ 9246 or 11.04 times to $ 10167. The average annual growth of GDP per capita in the world during this period was $ 201 per year.

At constant prices by 1970, the picture looks like this. Here it should be said what constant prices are.

Constant prices: A common set of prices used to estimate the output of a firm or the economy as a whole over successive periods. The change in the real volume of activity in an enterprise or in the economy is measured by assessing the value of annual real costs and output in constant prices. Prices for a specific date or average prices for a period are used as constants. It is rather difficult to select an appropriate set of constant prices, since the type and quality of goods are constantly changing. It is impossible to find out the price of a product in 1980 if this product appeared on sale only in 1990, or, conversely, the price of a product in 1990 if its sale was terminated in 1980. The longer the period under review, the greater the share of the total volume of production, in assessing the value of which one has to face such difficulties, and the less reliable comparisons of income or volume of production in constant prices.

So the constant GDP relative to 1970 prices increased from 3398.7 billion dollars. $ up to 13487.4 billion dollars. $ in 2016. The growth amounted to 10,088.7 billion dollars. $ or it grew 3.97 times.

GDP per capita in the world in constant prices relative to 1970 increased from $ 921 to $ 1823 in 2016. The growth was $ 902 or it grew 1.98 times. This means that the purchasing power of one inhabitant of the planet has almost doubled in 46 years.