This analysis examines the Global Economic Prospoects dataset collected by the World Bank. I am interested to see how much GDP changes each year and how many countries experience GDP Growth or Decline.
The dataset summarizes GDP Growth across 153 countries between 2023 and 2028 (the values for 2026, 2027, and 2028 are projected growth). Average prices and exchange rates from 2010 to 2019 are used to control for inflation and changes in exchange rate relative to US dollars. I exclude the first ten rows of the data, which show aggregate GDP Growth totals for regions (only keeping data for individual countries). I also reformat the data so that the 2023-2028 columns are gathered into two columns (for Year and corresponding GDP Growth).
1. The first insight I examine is the average GDP Growth across all countries for each year. The largest average GDP Growth is projected in 2027 (4.11%), while the smallest is projected in 2026 (3.34%).
| Year | Average_GDP_Growth |
|---|---|
| 2023 | 3.44 |
| 2024 | 3.51 |
| 2025 | 3.80 |
| 2026 | 3.34 |
| 2027 | 4.11 |
| 2028 | 4.10 |
2. The second insight I examine is the number of countries that saw GDP Growth or Decline in each year. I categorize this into countries that saw Growth or Decline of greater/ less than 5%. In each year, the majority of the countries saw GDP Growth of < 5%.
| Number of Countries Measured by GDP Growth or Decline | ||||
| GDP Decline (< 5%) | GDP Decline (> 5%) | GDP Growth (< 5%) | GDP Growth (> 5%) | |
|---|---|---|---|---|
| 2023 | 11 | 2 | 94 | 46 |
| 2024 | 11 | 4 | 98 | 40 |
| 2025 | 9 | 2 | 97 | 45 |
| 2026 | 4 | 3 | 113 | 33 |
| 2027 | 1 | NA | 111 | 41 |
| 2028 | NA | NA | 108 | 45 |