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What will the World's GDP be in 2028?
In the first decade of the 21st century, the World produced more economic value than in the first 19 centuries of the common era combined. From the long-term perspective of social history, lasting economic prosperity and economic growth that exceeds population growth is only a very recent achievement for humanity.
Since 1961, World GDP grew at an average rate of 3.5% resulting in a 7.1 fold increase, or a doubling once every 15.678 years or around 188 months. Although GDP growth rates are prone to shocks, world GDP has not recently shown to stagnate for long periods of time. In fact, world GDP growth was positive for all periods since 1961 except for 2009, following the global financial crisis.
Currently, in the third quarter of 2018, world GDP is estimated to be around $80.078 trillion in 2010 prices. World GDP is taken to mean the sum of gross value, at purchaser's prices in U.S. dollars added by all resident producers in the economy. It is calculated without making deductions for the depletion and degradation of natural resources.
What will be World GDP at the end of 2028 in trillions at current prices in U.S. dollars?
For the purpose of this question, we will refer to the data published by the World Bank given in 2010 U.S. dollars. The same deflator used by the World Bank is to be applied for calculating 2028 GDP. If a different base year is adopted by the World Bank, the relevant GDP figures will simply be scaled so that 2017's GDP remains $80.078 trillion.
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