According to the World Bank, the global GDP in current prices totaled $80.7 trillion in 2017. The IMF expected world GDP would expand to $84.8 trillion in 2018, with the United States, China, Japan, Germany, and the United Kingdom the largest countries by GDP. Combined, these top 5 countries represent more than half of the gross world product (GWP). Ranking by real GDP, the same countries hold the top spots.
GDP remains the single most commonly referenced figure to cover the entirety of a national economy and the trajectory it is on in a single statistic. Measured annually, quarterly, or monthly, trends in GDP for a single country or comparisons among peer countries are often called out in the popular press, sometimes with alarmist tones that can make one wonder why or how this single data point has taken on such importance. This is particularly the case in a world increasingly focused on measuring well-being, governance, and environmental and natural resource depletion, all of which are explicitly or implicitly excluded from standard GDP measures. In an era of open data, however, GDP as a singular golden indicator could fade ever so slowly to make room for other unique measures that will only become increasingly easier to develop and maintain as improvements are made in global data access.
Other GDP-related dashboards: