Global trade is heading for slump
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The global economy is expected to contract sharply in 2020 before a V-shaped recovery, with economic activity surging by 5.8 percent in 2021, according to the International Monetary Fund
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World GDP growth (annual change, %)
6
4
2
0
-2
-4
-6
-8
 2007 08 09 10 11 12 13 14 15 16 17 18 19 20 21


2008 financial crisis
2020 pandemic

4.3 -1.68 4.3 3.1 3.9 2.9 -3.0 5.8

Canada -6.2%
Norway -6.3% 
Brazil -5.3%
Eurozone - 7.5%
UK -6.5% 
Russia -5.5%
Australia - 6.7%
U.S. -5.9%
Japan -5.2%
                          
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Share of global economy

United States 23.62% $20.5 trillion
China 15.45% $13.4 trillion
Japan 5.73% $5.0 trillion
Rest of world (188 countries) 47.33% $41.2 trillion
United Kingdom 3.26% $2.8 trillion
Germany 4.61% $4.0 trillion

Total (2019) $87 trillion

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  Sources: International Monetary Fund, World Bank © GRAPHIC NEWS
  
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