This document discusses global economic trends from 1980 to 2017 based on GDP and other economic indicators. It notes that from 1980-1990, the United States and Japan led economic expansion, while from 1990-2000 the United States dominated growth. From 2000-2010, emerging economies like the BRICs began to drive growth, with China's economy expanding significantly. The document also examines trends in European GDP, government debt, trade balances, and unemployment during this period. Public debt levels rose sharply in Europe after the 2008 financial crisis.

1. Theodoros Pangalos
Former Deputy Primeminister, Greece
April 2013

2. Contents
¡ GDP and Growth
¡ Public Debt
¡ Trade
¡ Unemployment

3. GDP and
Growth

4. World GDP per capita

5. :: overview
¡ 1980 – 1990: United States and Japan lead
expansion
¡ 1990 – 2000: United States dominates expansion
¡ 2000 – 2010: Rise of Developing and Emerging
Economies
¡ 2010 – 2017: The BRICs lead economic growth.

6. :: GDP Figures (IMF)
IMF nominal GDP Data (September 2011)

7. European Countries GDP
IMF April 2012 (b USD)

8. GDP per capita 2008-2009

9. IMF April 2012 (b USD)

10. 1980 - 1990
¡ United States and Japan lead expansion
¡ At exchange rates, the economic output of 112 markets expanded by
$10.7 trillion from 1980 to 1990. The economic output of 34 markets
contracted by $276.9 billion from 1980 to 1990.
¡ The five largest contributors to global output contraction are Argentina at
24%, Saudi Arabia at 17%, Nigeria at 11%, Venezuela at 8%, and
Vietnam at 8%.
¡ At purchasing power parity, the economic output of 145 markets
expanded by $12.1 trillion from 1980 to 1990. The economic output of 2
markets contracted by $3.5 billion from 1980 to 1990.
¡ The two contributors to global output contraction are Lebanon at 70%
and Libya at 30%.

11. 1990 - 2000
¡ United States dominates expansion
¡ At exchange rates, the economic output of 122 markets expanded by
$10.7 trillion from 1990 to 2000. The economic output of 29 markets
contracted by $94.2 billion from 1990 to 2000.
¡ The five largest contributors to global output contraction are Italy at 37%,
Finland at 18%, Bulgaria at 9%, Algeria at 8%, and the Democratic
Republic of Congo at 5%.
¡ At purchasing power parity, the economic output of 148 markets
expanded by $16.9 trillion from 1990 to 2000. The economic output of 3
markets contracted by $17.8 billion from 1990 to 2000.
¡ The three contributors to global output contraction are Bulgaria at 64%,
the Democratic Republic of Congo at 29% and Sierra Leone at 7%.

12. 2000 – 2008
¡ 2000 – 2006: United States still leads, but China is catching up
¡ The five largest contributors to global output expansion are the United States
at 20%, China at 9%, Germany at 6%, the United Kingdom at 6%, and France
at 5%.
¡ 2007 – China leads expansion
¡ The economic output by nominal GDP of 183 markets expanded by $6.4
trillion during 2007. China accounted for 12% while the United States
accounted for 10%, Germany accounted for 6%, and the United Kingdom
accounted for 6% of the global output expansion.
¡ 2008 – credit crisis begins
¡ The economic output of 171 markets expanded by $5.8 trillion during 2008.
China accounted for one-sixth of the global output expansion. The economic
output of 11 markets contracted by $267 billion during 2008. The United
Kingdom accounted for one-half while South Korea accounted for two-fifth of
the global output contraction. Though the crisis first affected most countries in
2008, it was not yet deep enough to reverse growth.

13. 2008 - 2010
¡ 2009 – credit crisis spreads
¡ At exchange rates, the economic output of 127 markets contracted by
$4.1 trillion during 2009. The United Kingdom was the largest victim
accounting for 12% while Russia accounted for 11% and Germany
accounted for 8% of the global output contraction. The economic output
of 56 markets expanded by $767.1 billion during 2009. China accounted
for 61% while Japan accounted for 20% and Indonesia accounted for
4% of the global output expansion.
¡ At purchasing power parity, the economic output of 79 markets
contracted by $1.4 trillion during 2009. The United States was the
largest victim accounting for 18% while Japan accounted for 17% and
Russia accounted for 10% of the global output contraction. The
economic output of 104 markets expanded by $1.5 trillion during 2009.
China accounted for 56% while India accounted for 17% and Indonesia
accounted for 3% of the global output expansion.
¡ 2010 – recovery

14. 2010 - recovery
¡ At exchange rates, the economic output of 148 markets expanded by
$5.3 trillion during 2010. The five largest contributors to global output
expansion are China at 17%, the United States at 10%, Brazil at 9%,
Japan at 8%, and India at 5%. The economic output of 35 markets
contracted by $338.5 billion during 2010. The five largest contributors to
global output contraction are France at 22%, Italy at 18%, Spain at 17%,
Venezuela at 10%, and Germany at 7%.
¡ At purchasing power parity, the economic output of 169 markets
expanded by $4.2 trillion during 2010. The five largest contributors to
global output expansion are China at 25%, the United States at 13%,
India at 10%, Japan at 5%, and Brazil at 4%. The economic output of 14
markets contracted by $17.8 billion during 2010. The five largest
contributors to global output contraction are Greece at 67%, Venezuela
at 19%, Romania at 5%, Haiti at 3%, and Croatia at 2%.
¡ IMF's economic outlook for 2010 noted that banks faced a "wall" of
maturing debt, which presents important risks for the normalization of
credit conditions. There has been little progress in lengthening the
maturity of their funding and, as a result, over $4 trillion in debt is due to
be refinanced in the next 2 years.

15. EU Growth Rate

16. Industrial Production

17. Government
debt

18. Public Debt
www.economist.com

19. World Government Debt

20. Europe Government Debt

25. Trade

26. Largest EU trading partners

27. millions euro (2011)

28. Balance EU trade in goods

30. WTO 28.11.2012

34. Unemployment

35. Unemployment rate

36. EU unemployment rate

37. :: contact
¡ theodoros@pangalos.gr
¡ t: @tpangalos
¡ w: www.pangalos.gr
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