What % Of Global Economy (gdp) Is Us, China, And Combined? & % Of Us&china Gdp Is Us-china Exp/imp?
Posted by China Sourcing CommentatorAug 12
What percentage of the global economy’s GDP is from US, China and combined? What percentage of the US & China GDP’s is US & China Imports and Exports? Please give source…
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1. IMF estimate for 2006 in nominal terms (US$ million):
Gross World Product : 48,245,198
US GDP : 13,194,700 ( share 26% approx)
Peoples Republic of China GDP : 2,644,642 (share 5% approx)
So, combined share of US and China in World GDP can be placed at 31% approximately..
2. IMF estimate for 2006 in purchasing power parity terms (US$ million)
Gross World Product : 66,228,669
US GDP : 13,020,861 ( share 22% approx)
Peoples Republic of China GDP : 11,606,336 (share 19% approx)
So, combined share of US and China in World GDP can be placed at 41% approximately.
However, it is learnt that the current round od estimation excersise show that China’s GDP in PPP terms has been earlier overestimated by about 40%. This would mean that China’s share would go down substantially to around 11.5% and US share would go up to around 21.5 % and ths their combined share would be close to 33% of World Gross output.
3. Exports and Inmorts
US Exports $1.024 trillion (2006 est)
US Imports $1.869 trillion (2006 est)
Total US = $ 2,893
China’s Exports (2006) $963.0 billion f.o.b
China’s Imports (2006) $795.0 billion f.o.b.
Total China = $1.758 trillion
Therefore, combinedl exports and imports of USA and China = $4.651 trillion. All this is in nominal terms (not PPP).
In 1 above we get estimates of GDP:
US GDP ; $13.02 trillion
China GDP: $2.62 trillion
So, combined GDP of USA and China = $15.65 trillion.
Thus, share of combined US& China exports and Imports in combined GDP of US & China = $4.65 trillion/ $ 15.65 trillion = 0.21 = 21.5%
These are the rough & ready estimates that can be used.
But check my percentage calculations and additions.