Business Report: Components of the global economy - Hawaii News Now - KGMB and KHNL

Business Report: Components of the global economy

HONOLULU (HawaiiNewsNow) -

It’s a different kind of globe, a map of world economies, by size, clustered by continent. The World Bank did the number crunching, national GDPs, or gross domestic products, as of February. Barry Ritholtz, who put this website The Big Picture, made a few observations I agree with.

He was surprised China’s GDP is still so much smaller than ours, and that all of South America was so small, especially when Brazil is the fifth most populous nation. But Brazil does have a larger GDP than Canada.

Japan GDP is greater than all of South America PLUS Mexico. The U.S. economy is still roughly equal to the entire European economic bloc.
Italy has a larger economy than all of Russia.

Here’s one more way to parse it: more than half of global economic production is in English-speaking countries. Spanish speaking countries, for example, account for only 5%.

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