China and U.S. to account for half of growth
According to forecasts from the World Bank, the global economy is expected to average a real gross domestic product growth rate of 2.8 percent between 2017 and 2019. But where will this growth occur? Visual Capitalist’s chart looks at individual countries between 2017 and 2019, based on their individual growth projections from the World Bank, to see where new wealth is being created. The World Bank estimates Chinese economy will expand by 6.5 percent this year and 6.3 percent in both 2018 and 2019. About 35.2 percent of global GDP growth will come from China over this period of time, lifting the country’s eco- nomic output by $2.3 trillion.
The United States is also expected to contribute a significant portion of global growth of 15 percent. “The U.S forecasts do not incorporate the effect of policy proposals by the new U.S. administration, as their overall scope and ultimate form are still uncertain,” the World Bank said. Beyond the usual suspects of China, India, the euro zone and the United States, it is interesting to see Indonesia as the next brightest spot. In fact, the world’s fourth most-populous nation will account for 2.5 percent of global GDP growth. Meanwhile, Turkey is expected to contribute 1.2 percent toward global growth over the next three years.
% of est. global growth (2017-2019) in real GDP