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The World Economy at the Beginning of 1998

Table 1: Growth of World Outputa, 1981-998 (Annual percentage change)

  1981-1990 1991 1992 1993 1994 1995 1996 1997b 1998c
World 2.8 0.8 1.8 1.4 3.0 2.5 3.0 3.2 3
Developed economies 2.9 0.7 1.6 0.8 2.7 2.1 2.4 2.6 2.5
Economies in transitiond 1.6 -8.1 -13.0 -9.2 -7.0 -1.1 -0.3 1.7 3.25
Developing economies 2.4 3.3 5.1 5.2 5.6 4.6 5.7 5.7 5
Memorandum items:                  
Number of countries with rising per capita output 106 70 75 67 96 107 120 120 131
Number of countries in sample 127 128 142 143 143 143 143 143 143
World output growth with PPP-based weightse 3.1 1.2 2.2 2.2 3.7 3.4 3.8 4.1 4
Source: UN/DESA

a Calculated as a weighted average of individual country growth rates of gross domestic product (GDP), where weights are based on GDP in 1993 prices and exchange rates.
b Preliminary estimates.
c Forecast, based in part on Project LINK.
d Based on reported GDP, which underestimates activity in several countries.
e Employs an alternative scheme for weighting national growth rates of GDP, based on purchasing power parity (PPP) conversions of national currency GDP into international dollars (see introduction to statistical annex of World Economic and Social Survey, 1997).
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29 December 1997