The world economy or global economy is the economy of all humans of the world, referring to the global economic system which includes all economic activities which are conducted both within and between nations, including production, consumption, economic management, work in general, exchange of financial values and trade of goods and services.^[1][2] In some contexts, the two terms are distinct "international" or "global economy" being measured separately and distinguished from national economies while the "world economy" is simply an aggregate of the separate countries' measurements. Beyond the minimum standard concerning value in production, use and exchange, the definitions, representations, models and valuations of the world economy vary widely. It is inseparable from the geography and ecology of planet Earth.

It is common to limit questions of the world economy exclusively to human economic activity and the world economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research, genuine data or government cooperation makes establishing figures difficult. Typical examples are illegal drugs and other black market goods, which by any standard are a part of the world economy, but for which there is by definition no legal market of any kind.

However, even in cases in which there is a clear and efficient market to establish a monetary value, economists do not typically use the current or official exchange rate to translate the monetary units of this market into a single unit for the world economy since exchange rates typically do not closely reflect worldwide value, for example in cases where the volume or price of transactions is closely regulated by the government.

Rather, market valuations in a local currency are typically translated to a single monetary unit using the idea of purchasing power. This is the method used below, which is used for estimating worldwide economic activity in terms of real United States dollars or euros. However, the world economy can be evaluated and expressed in many more ways. It is unclear, for example, how many of the world's 7.8 billion people (as of March 2020^[update])^[3][4] have most of their economic activity reflected in these valuations.

According to Maddison, until the middle of 19th century, global output was dominated by China and India. Waves of Industrial Revolution in Western Europe and Northern America shifted the shares to the Western Hemisphere. As of 2022, the following 18 countries or collectives have reached an economy of at least US$2 trillion by GDP in nominal or PPP terms: Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, Spain, Turkey, the United Kingdom, the United States and the European Union.^[5][6]

Despite high levels of government investment, the World Bank predicted that the global economy would decrease by 5.2 percent in 2020. Cities account for 80% of global GDP, thus they would face the brunt of this decline.^[7][8][9]

Overview

World economy by country groups

Country group	List of country groups by GDP (nominal) in 2022 (or at peaked level)		List of country groups by GDP (PPP) in 2022 (or at peaked level)		Number of countries	Major economies
	Value (in millions of US$)	Share of Global GDP	Value (in millions of US$)	Share of Global GDP
Major advanced economies (G7)	45,107,745	43.4%	49,365,287	30.8%	7	United States  Japan  Germany  United Kingdom  France  Italy  Canada
Emerging and developing Asia	27,008,220	26.0%	53,075,051	33.1%	30	China  India  Indonesia  Thailand  Vietnam  Philippines  Bangladesh  Malaysia
Other advanced economies (advanced economies excluding the G7)	14,140,022	13.6%	18,082,059	11.3%	33	South Korea  Spain  Australia  Taiwan  Netherlands   Switzerland  Belgium  Singapore  Sweden  Ireland
Middle East and Central Asia	6,011,585	5.8%	11,869,342	7.4%	32	Saudi Arabia  Iran  Egypt  Pakistan  United Arab Emirates  Kazakhstan
Latin America and the Caribbean	5,462,553 (peaked at 6,060,353 in 2013)	5.3%	11,605,120	7.2%	33	Brazil  Mexico  Argentina  Colombia
Emerging and developing Europe	4,073,723 (peaked at 4,573,783 in 2013)	3.9%	11,199,561 (peaked at 11,343,072 in 2021)	7.0%	16	Russia  Turkey  Poland  Romania
Sub-Saharan Africa	2,063,261	2.0%	5,047,744	3.2%	45	Nigeria  South Africa
World	103,867,109	100.0%	160,244,164	100.0%	196

Current world economic league table of largest economies in the world by GDP and share of global economic growth

The 25 largest economies by GDP (nominal), twenty largest economies by GDP (PPP) as of 2022. Members of the G-20 major economies are in bold.
List of the 25 largest economies by GDP (nominal) at their peak level as of 2022 in million US$[5]	List of the 25 largest economies by GDP (PPP) at their peak level as of 2022 in million Int$[5]	List of the 25 economies by highest GDP (nominal) per capita at their peak level as of 2022 in US$	List of the 25 economies by highest GDP (PPP) per capita at their peak level as of 2022 in Int$
Rank Country Value Peak year — World 103,867,109 2022 1  United States 25,346,805 2022 2  China 19,911,593 2022 —  European Union 19,226,235 2008 3  Japan 6,272,364 2012 4  Germany 4,256,540 2022 5  India 3,534,743 2022 6  United Kingdom 3,376,003 2022 7  France 2,936,702 2022 8  Brazil 2,614,027 2011 9  Italy 2,408,391 2008 10  Russia 2,288,428 2013 11  Canada 2,221,218 2022 12  South Korea 1,804,680 2022 13  Australia 1,748,334 2022 14  Iran 1,739,012 2022 15  Spain 1,631,685 2008 16  Mexico 1,322,740 2022 17  Indonesia 1,289,295 2022 18  Saudi Arabia 1,040,166 2022 19  Netherlands 1,018,684 2021 20  Turkey 957,504 2013 21   Switzerland 841,969 2022 22  Taiwan 841,209 2022 23  Poland 699,559 2022 24  Argentina 643,861 2017 25  Sweden 627,438 2021	Rank Country Value Peak year — World 160,244,164 2022 1  China 30,177,926 2022 2  United States 25,346,805 2022 —  European Union 23,730,275 2022 3  India 11,745,260 2022 4  Japan 6,110,075 2022 5  Germany 5,269,963 2022 6  Russia 4,490,456 2021 7  Indonesia 3,995,064 2022 8  United Kingdom 3,751,845 2022 9  Brazil 3,680,942 2022 10  France 3,677,579 2022 11  Turkey 3,212,072 2022 12  Italy 2,972,091 2022 13  Mexico 2,890,685 2022 14  South Korea 2,735,870 2022 15  Canada 2,236,928 2022 16  Spain 2,209,419 2022 17  Saudi Arabia 2,002,542 2022 18  Australia 1,605,196 2022 19  Taiwan 1,603,723 2022 20  Poland 1,575,777 2022 21  Iran 1,573,467 2022 22  Egypt 1,562,377 2022 23  Thailand 1,475,656 2022 24  Pakistan 1,468,862 2022 25  Vietnam 1,278,061 2022	Rank Country Value Peak year 1  Luxembourg 136,701 2021 2  Norway 102,577 2013 3  Qatar 101,933 2012 4  Ireland 101,509 2022 5   Switzerland 96,390 2022 6  Macau 86,298 2014 7  Brunei 79,816 2022 8  Singapore 79,576 2022 9  San Marino 79,110 2008 10  United States 76,027 2022 11  Iceland 75,374 2018 12  Australia 68,441 2012 13  Denmark 68,094 2022 14  Sweden 60,845 2013 15  Netherlands 58,292 2021 16  Canada 57,406 2022 17  Israel 54,688 2022 18  Finland 54,008 2021 19  Austria 53,371 2022 20  Belgium 52,485 2022 21  Andorra 51,957 2011 22  Germany 51,104 2022 23  United Kingdom 50,676 2007 24  United Arab Emirates 50,349 2022 25  Hong Kong 49,850 2022	Rank Country Value Peak year 1  Qatar 169,698 2012 2  Macau 145,947 2013 3  Luxembourg 140,694 2022 4  Singapore 131,580 2022 5  Ireland 124,596 2022 6  United Arab Emirates 110,145 2004 7  Brunei 88,312 2012 8   Switzerland 84,658 2022 9  Norway 77,808 2022 10  United States 76,027 2022 11  San Marino 75,030 2008 12  Kuwait 72,736 2012 13  Hong Kong 70,448 2022 14  Denmark 69,273 2022 15  Taiwan 68,730 2022 16  Netherlands 68,572 2022 17  Austria 64,751 2022 18  Iceland 64,621 2022 19  Andorra 63,600 2022 20  Germany 63,271 2022 21  Sweden 62,926 2022 22  Australia 61,941 2022 23  Belgium 61,587 2022 24  Finland 58,010 2022 25  Canada 57,812 2022

Twenty largest economies in the world by nominal GDP

The following is a list of the twenty largest economies by nominal GDP at peak value as of the specific year according to the International Monetary Fund.[5]
Rank	1980	1985	1990	1995	2000	2005	2010	2015	2020	2025	2027
1	United States	United States	United States	United States	United States	United States	United States	United States	United States	United States	United States
2	Japan	Japan	Japan	Japan	Japan	Japan	China	China	China	China	China
3	Soviet Union	Soviet Union	West Germany	Germany	Germany	Germany	Japan	Japan	Japan	Japan	Japan
4	West Germany	West Germany	France	France	United Kingdom	United Kingdom	Germany	Germany	Germany	Germany	India
5	France	France	United Kingdom	United Kingdom	France	China	United Kingdom	United Kingdom	United Kingdom	India	Germany
6	United Kingdom	United Kingdom	Soviet Union	Italy	Italy	France	France	France	France	United Kingdom	United Kingdom
7	Italy	Italy	Italy	Brazil	China	Italy	Italy	Brazil	India	France	France
8	China	Canada	Canada	China	Brazil	Canada	Brazil	Italy	Brazil	Brazil	Canada
9	Canada	China	Iran	Spain	Canada	Spain	Russia	Russia	Italy	Canada	Brazil
10	Argentina	Mexico	Spain	Canada	Mexico	South Korea	India	India	Russia	Italy	Italy
Rank	1980	1985	1990	1995	2000	2005	2010	2015	2020	2025	2027
11	Spain	India	China	Iran	Spain	Brazil	Spain	Canada	Canada	Russia	South Korea
12	Mexico	Argentina	Brazil	South Korea	South Korea	Mexico	Canada	Spain	South Korea	South Korea	Russia
13	Netherlands	Spain	India	Mexico	Iran	India	Australia	Australia	Spain	Australia	Australia
14	India	Brazil	Australia	Netherlands	India	Russia	South Korea	South Korea	Australia	Iran	Iran
15	Saudi Arabia	Australia	Netherlands	Australia	Netherlands	Australia	Mexico	Mexico	Mexico	Spain	Indonesia
16	Australia	Netherlands	Mexico	India	Russia	Netherlands	Netherlands	Turkey	Indonesia	Indonesia	Spain
17	Brazil	Saudi Arabia	South Korea	Switzerland	Australia	Iran	Turkey	Netherlands	Turkey	Mexico	Mexico
18	Sweden	Iran	Switzerland	Russia	Switzerland	Turkey	Indonesia	Indonesia	Netherlands	Netherlands	Netherlands
19	Belgium	Sweden	Sweden	Argentina	Argentina	Switzerland	Switzerland	Saudi Arabia	Iran	Saudi Arabia	Turkey
20	Switzerland	Belgium	Argentina	Belgium	Taiwan	Sweden	Iran	Switzerland	Saudi Arabia	Taiwan	Saudi Arabia

Twenty largest economies in the world by GDP (PPP)

List of twenty largest economies by GDP based on purchasing power parity at peak value as of the specific year according to the International Monetary Fund and the CIA World Factbook.[5][10]
Rank	1980	1985	1990	1995	2000	2005	2010	2015	2020	2025	2027
1	United States	United States	United States	United States	United States	United States	United States	United States	China	China	China
2	Soviet Union	Soviet Union	Soviet Union	Japan	China	China	China	China	United States	United States	United States
3	Japan	Japan	Japan	China	Japan	Japan	India	India	India	India	India
4	West Germany	West Germany	West Germany	Germany	Germany	India	Japan	Japan	Japan	Japan	Japan
5	Italy	Italy	Italy	Russia	India	Germany	Germany	Germany	Germany	Germany	Germany
6	France	France	France	India	France	Russia	Russia	Russia	Russia	Indonesia	Indonesia
7	Brazil	Brazil	China	Italy	Italy	France	Brazil	Brazil	Indonesia	Russia	Russia
8	United Kingdom	United Kingdom	United Kingdom	France	United Kingdom	Brazil	France	United Kingdom	United Kingdom	United Kingdom	United Kingdom
9	Saudi Arabia	China	Brazil	Brazil	Russia	United Kingdom	United Kingdom	France	Brazil	Brazil	Brazil
10	Mexico	India	India	United Kingdom	Brazil	Italy	Italy	Indonesia	France	France	France
Rank	1980	1985	1990	1995	2000	2005	2010	2015	2020	2025	2027
11	India	Mexico	Mexico	Mexico	Mexico	Mexico	Indonesia	Italy	Italy	Turkey	Turkey
12	China	Saudi Arabia	Spain	Indonesia	Indonesia	Indonesia	Mexico	Mexico	Mexico	Italy	Mexico
13	Spain	Canada	Canada	Spain	Spain	Spain	South Korea	Turkey	Turkey	Mexico	Italy
14	Canada	Spain	Indonesia	Saudi Arabia	Canada	Canada	Spain	South Korea	South Korea	South Korea	South Korea
15	Iran	Iran	Saudi Arabia	Canada	Saudi Arabia	South Korea	Saudi Arabia	Saudi Arabia	Spain	Spain	Spain
16	Indonesia	Indonesia	Iran	Iran	South Korea	Saudi Arabia	Iran	Spain	Canada	Canada	Canada
17	Argentina	Turkey	Turkey	South Korea	Iran	Iran	Canada	Canada	Saudi Arabia	Saudi Arabia	Saudi Arabia
18	Poland	Australia	Australia	Turkey	Turkey	Turkey	Turkey	Iran	Iran	Egypt	Egypt
19	Netherlands	Netherlands	South Korea	Australia	Australia	Australia	Australia	Australia	Australia	Poland	Pakistan
20	Turkey	Argentina	Netherlands	Thailand	Netherlands	Thailand	Taiwan	Taiwan	Thailand	Taiwan	Poland

Statistical indicators

Finance

Countries or territories by GDP (PPP) per capita in 2021.

>$60,000   $50,000 – $60,000   $40,000 – $50,000   $30,000 – $40,000

$20,000 – $30,000   $10,000 – $20,000   $5,000 – $10,000   $2,500 – $5,000

$1,000 – $2,500   <$1,000   No data

Countries by total wealth (trillions USD), Credit Suisse

• GDP (GWP) (gross world product): (purchasing power parity exchange rates) – $59.38 trillion (2005 est.), $51.48 trillion (2004), $23 trillion (2002). The GWP is the combined gross national income of all the countries in the world. When calculating the GWP, add GDP of all countries. Also, GWP shows that imports and exports are equal. Because imports and exports balance exactly when considering the whole world:,^[11] this also equals the total global gross domestic product (GDP). According to the World Bank, the 2013 nominal GWP was approximately US$75.59 trillion. In 2017, according to the CIA's World Factbook, the GWP was around US$80.27 trillion in nominal terms and totaled approximately 127.8 trillion international dollars in terms of purchasing power parity (PPP). The per capita PPP GWP in 2017 was approximately Int$17,500 according to the World Factbook.
• GDP (GWP) (gross world product):^[12] (market exchange rates) – $60.69 trillion (2008). The market exchange rates have increased from the 1990 to 2008. The reason for this increase is the world advancement in terms of technology.
• GDP^[13] (real growth rate): The following part shows the GDP growth rate and the expected value after one year.
  • Developed Economies. A developed country, industrialized country, more developed country (MDC), or more economically developed country (MEDC), is a sovereign state that has a developed economy and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are gross domestic product (GDP), gross national product (GNP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. Which criteria are to be used and which countries can be classified as being developed are subjects of debate. The GDP of the developed countries is predicted to fall from 2.2% in 2017 to 2.0% 2018 due to the fall of dollar value.
  • Developing Countries. A developing country is a country with a less developed industrial base (industries) and a low Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreement on which countries fit this category. A nation's GDP per capita, compared with other nations, can also be a reference point. In general, the United Nations accepts any country's claim of itself being "developing". The GDP of the developing countries is expected to rise from 4.3% in 2017 to 4.6% in 2018 due to political stability in those countries and advancement in technology.
  • Least developed countries. The least developed countries (LDCs) is a list of developing countries that, according to the United Nations, exhibit the lowest indicators of socioeconomic development, with the lowest Human Development Index ratings of all countries in the world. The concept of LDCs originated in the late 1960s and the first group of LDCs was listed by the UN in its resolution 2768 (XXVI) of 18 November 1971. This is a group of countries that are expected to improve their GDP from 4.8% in 2017 to 5.4% in 2018. The predicted growth is associated advancement in technology and industrialization of those countries for the past decade.
• GDP – per capita: purchasing power parity – $9,300, €7,500 (2005 est.), $8,200, €6,800 (92) (2003), $7,900, €5,000 (2002)
• World median income: purchasing power parity $1,041, €950 (1993)^[14]
• GDP – composition by sector: agriculture: 4%; industry: 32%; services: 64% (2004 est.)
• Inflation rate (consumer prices); In economics, inflation is a general rise in the price level in an economy over a period of time, resulting in a sustained drop in the purchasing power of money. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation reflects a reduction in the purchasing power per unit of money – a loss of real value in the medium of exchange and unit of account within the economy. The opposite of inflation is deflation, a sustained decrease in the general price level of goods and services. The common measure of inflation is the inflation rate, the annualized percentage change in a general price index, usually the consumer price index, over time. national inflation rates vary widely in individual cases, from declining prices in Japan to hyperinflation (In economics, hyperinflation is very high and typically accelerating inflation) in several Third World countries (2003):
  • World 2.6% (2017), 2.8% (predicted 2018);^[15]
  • Developed Economies 1% to 4% typically
  • Developing Countries 5% to 60% typically
  • Least developed countries 11.4% (2017), 8.3% (predicted 2018)^[15]
• Derivatives OTC outstanding notional amount: $601 trillion (Dec 2010) ([1])
• Derivatives exchange traded outstanding notional amount: $82 trillion (June 2011) ([2])
• Global debt issuance: $5.187 trillion, €3 trillion (2004), $4.938 trillion, €3.98 trillion (2003), $3.938 trillion (2002) (Thomson Financial League Tables)
• Global equity issuance: $505 billion, €450 billion (2004), $388 billion. €320 billion (2003), $319 billion, €250 trillion (2002) (Thomson Financial League Tables)

Employment

World GDP per capita between 1500 and 2000 (log scale)

World GDP per capita between 1500 and 2003

GDP increase, 1990–1998 and 1990–2006, in major countries

• Unemployment rate: 8.7% (2009 est.). 30% (2007 est.) combined unemployment and underemployment in many non-industrialized countries; developed countries typically 4%–12% unemployment.

Industries

• Industrial production growth rate: 3% (2002 est.)

Energy

Global primary energy consumption, measured in terawatt-hours (TWh) per year

• Yearly electricity – production: 21,080,878 GWh (2011 est.),^[16] 15,850,000 GWh (2003 est.), 14,850,000 GWh (2001 est.)
• Yearly electricity – consumption: 14,280,000 GWh (2003 est.), 13,930,000 GWh (2001 est.)
• Oil – production: 79,650,000 bbl/d (12,663,000 m³/d) (2003 est.), 75,460,000 barrels per day (11,997,000 m³/d) (2001)
• Oil – consumption: 80,100,000 bbl/d (12,730,000 m³/d) (2003 est.), 76,210,000 barrels per day (12,116,000 m³/d) (2001)
• Oil – proved reserves: 1.025 trillion barrel (163 km³ (39 cu mi) (2001 est.)
• Natural gas – production: 3,366 km³ (808 cu mi) (2012 est.),^[17] 2,569 km³ (616 cu mi) (2001 est.)
• Natural gas – consumption: 2,556 km³ (613 cu mi) (2001 est.)
• Natural gas – proved reserves: 161,200 km³ (38,700 cu mi) (1 January 2002)

Cross-border

• Yearly exports: $12.4 trillion, €11.05 trillion (2009 est.)
• Exports – commodities: the whole range of industrial and agricultural goods and services
• Exports – partners: US 12.7%, Germany 7.1%, China 6.2%, France 4.4%, Japan 4.2%, UK 4.1% (2008)
• Yearly imports: $12.29 trillion, €10.95 trillion (2009 est.)
• Imports – commodities: the whole range of industrial and agricultural goods and services
• Imports – partners: China 10.3%, Germany 8.6%, US 8.1%, Japan 5% (2008)
• Debt – external: $56.9 trillion, €40 trillion (31 December 2009 est.)

Gift economy

• Yearly economic aid – recipient: net Official Development Assistance (ODA) of $135.2 billion (2014)^[18]

Communications

Telephones – main lines in use: 843,923,500 (2007)
4,263,367,600 (2008)

• Telephones – mobile cellular: 3,300,000,000 (Nov. 2007)^[19]
• Internet Service Providers (ISPs): 10,350 (2000 est.)
• Internet users: 3,079,339,857 (31 December 2014 [3]), 360,985,492 (31 December 2000^[20])

Transport

Transportation infrastructure worldwide includes:

• Airports
  • Total: 41,821 (2013)^[21]
• Roadways
  • Total: 32,345,165 km (20,098,354 mi)
  • Paved: 19,403,061 km (12,056,503 mi)
  • Unpaved: 12,942,104 km (8,041,851 mi) (2002)
• Railways
  • Total: 1,122,650 km (697,580 mi) includes about 190,000 to 195,000 km (118,000 to 121,000 mi) of electrified routes of which 147,760 km (91,810 mi) are in Europe, 24,509 km (15,229 mi) in the Far East, 11,050 km (6,870 mi) in Africa, 4,223 km (2,624 mi) in South America, and 4,160 km (2,580 mi) in North America.^{[dubious – discuss]}

Military

A pie chart showing global military expenditures by country for 2019, in US$ billions, according to SIPRI.

• World military expenditure in 2018: estimated to $1.822 trillion^[22]
• Military expenditures – percent of GDP: roughly 2% of gross world product (1999).

Science, research and development

Number of scientific or technical journal article publications per million residents as of 2013.

The Royal Society in a 2011 report stated that in terms of number of papers the share of English-language scientific research papers the United States was first followed by China, the UK, Germany, Japan, France, and Canada.^[23] In 2015, research and development constituted an average 2.2% of the global GDP according to the UNESCO Institute for Statistics.^[24] Metrics and rankings of innovation include the Bloomberg Innovation Index, the Global Innovation Index and the share of Nobel laureates per capita.

Resources and environment

Shown is how the global material footprint and global CO2 emissions from fossil-fuel combustion and industrial processes changed compared with global GDP.^[25]

Deforestation (net loss) of tropical rainforest and woodland over time, 1750-2004

• Forests (carbon sinks, wood, ecosystem services, ...)
  • Estimated number of trees that are net lost annually as of 2021: 10 billion^[26][27]
  • Global annual deforested land in 2015–2020: 10 million hectares
  • Global annual net forest area loss in 2000–2010 : 4.7 million hectares^[28]
• Other land degradation and land- and organisms-related ecosystem disturbances
  • Soils (carbon sink, ecosystem services, food production, ...)
    • Soil erosion by water in 2012: almost 36 billion tons (based on a high resolution global potential soil erosion model developed in 2017)^[29]
    • Estimated annual loss of agricultural productivity due to soil erosion: 8 billion US dollars (based on the soil erosion data)^[30]
    • Soil erosion by water in 2015: approximately 43 billion tons (according to a 2020 study)^[31]
    • Environmental impact of pesticides
      • Pesticide use in tonnes of active ingredient in Australia in 2016: ca. 62,500 tonnes^[32]
• Oceans (ecosystem services, food production, ...): Blue economy
• Waste and pollution (effects of economic mechanisms, effects on ecosystem services)
  • As of 2018, about 380 million tonnes of plastic is produced worldwide each year. From the 1950s up to 2018, an estimated 6.3 billion tonnes of plastic has been produced worldwide, of which an estimated 9% has been recycled and another 12% has been incinerated with the rest reportedly being "dumped in landfills or the natural environment".^[33]
  • Air pollution
    • Number of human deaths caused annually by air pollution worldwide: ca. 7 million^[34][35][36]
    • Estimated global annual cost of air pollution: $5 trillion^[37][38][39]
  • Microplastic pollution
    • Estimated accumulated number of microplastic particles in the North Atlantic Ocean in 2014: 15 to 51 trillion particles, weighing between 93,000 and 236,000 metric tons^[40]
    • Estimated accumulated number of microplastic particles in the North Atlantic Ocean in 2020: 3700 microplastics per cubic meter^[40]

From the scientific perspective, economic activities are embedded in a web of dynamic, interrelated, and interdependent activities that constitute the natural system of Earth. Novel application of cybernetics in decision-making (such as in decision-making related to process- and product-design and related laws) and direction of human activity (such as economic activity) may make it easier to control modern ecological problems.^[41]

Historical development

One example for a comparable metric other than GDP are the OECD Better Life Index rankings for different aggregative domains.

OECD Better Life Index rankings for 2016
Overall Rank [43]	Country	Housing	Income	Jobs	Community	Education	Environment	Civic engagement	Health	Life Satisfaction	Safety	Work-Life Balance
1	Norway
2	Australia
3	Denmark
4	Switzerland
5	Canada
6	Sweden
7	New Zealand
8	Finland
9	United States
10	Iceland
11	Netherlands
12	Germany
13	Luxembourg
14	Belgium
15	Austria
16	United Kingdom
17	Ireland
18	France
19	Spain
20	Slovenia
21	Czech Republic
22	Estonia
23	Japan
24	Slovakia
25	Italy
26	Israel
27	Poland
28	South Korea
29	Portugal
30	Latvia
31	Greece
32	Hungary
33	Russia
34	Chile
35	Brazil
36	Turkey
37	Mexico
38	South Africa

The index includes 11 comparable "dimensions" of well-being:^[44]

1. Housing: housing conditions and spendings (e.g. real estate pricing)
2. Income: household income (after taxes and transfers) and net financial wealth
3. Jobs: earnings, job security and unemployment
4. Community: quality of social support network
5. Education: education and what one gets out of it
6. Environment: quality of environment (e.g. environmental health)
7. Governance: involvement in democracy
8. Health
9. Life Satisfaction: level of happiness
10. Safety: murder and assault rates
11. Work-life balance

Economic studies

To promote exports, many government agencies publish on the web economic studies by sector and country. Among these agencies include the USCS (US DoC) and FAS (USDA) in the United States, the EDC and AAFC in Canada, Ubifrance in France, the UKTI in the United Kingdom, the HKTDC and JETRO in Asia, Austrade and the NZTE in Oceania. Through Partnership Agreements, the Federation of International Trade Associations publishes studies from several of these agencies (USCS, FAS, AAFC, UKTI, and HKTDC) as well as other non-governmental organizations on its website globaltrade.net.