July 10, 2018
Written by WID.world

Update of WID.world macroeconomic aggregates to 2017

WID.world has updated its external data on macroeconomic aggregates: national accounts and price data, as well as population indicators, are now available for 2017.

WID.world has national income aggregates for about 99% of the world population. The national income of a country corresponds to its gross domestic product (GDP) minus its consumption of fixed capital (CFC) added to its national foreign income (NFI), which makes it a more relevant measure of its total income than the GDP.

WID.world uses new methods to compute NFI and CFC figures in order to correct for statistical discrepancies. In particular we take into account the missing foreign income problem, which is partly due to tax evasion. For more information on the methodology, please refer to the WID.world working paper “National Accounts Series Methodology” by T. Blanchet and L.Chancel (2016/1).

In 2017, total global income was of €83,800 billion, with an average of  €16,800 per adult and per year. Global national income per adult grew faster in 2017 than in 2016: it increased by 2.9% in 2017, compared to 1.6 % in 2016 and to an average annual growth rate of 2.4% since 2010.

Based on the World Inequality Report 2018‘s findings, we estimate the average income of the bottom 50% of the global income distribution (the poorest half of the world population) at €3,260 per year and per adult in 2017, while it was of €342,500 for the top 1%. See more on WID.world global inequality estimates here.

You can also visualize some of WID.world national accounts series here: