World economy evolution

Cornel Albu and Alexandru Tănase

Conjunctura economiei mondiale / World Economic Studies, 2016, 1-3

Abstract: The year 2015 has been marked by a slowdown in the global economy, the pace of increase in GDP reached 3.1%, lower than in the previous year (3.4%). Across the developed countries, the economic growth was 1.9%, while the United States (2.4%), Japan (0.5 %%) and Canada (1.2%). The European Union has experienced an increase in economic growth of 2.0% compared to 1.4% in 2014, caused mainly by the favorable evolution of the Eurozone (1.6% versus 0.9% in 2014). A slightly higher growth but without reaching the superior performance of previous years was recorded in emerging and developing countries, noting China, whose economy grew by 6.9% in 2015, compared with 7.3 % in 2014 and India, which exceeded China's economic growth, 7.3%, compared with 7.2% in 2014. The International Monetary Fund forecasts of global economic growth estimate the increase of world GDP in 2016 to reach 3.2% and for 2017 is forecast at 3.5%. Growth in world trade has remained, in 2015, for the 4th consecutive year below 3%, and in 2016 is expected to reach the same pace as in 2014 and 2015, respectively 2.8%. WTO experts predict that only in 2017 the volume of trade will increase by over 3%, with a forecast of 3.6%.

Keywords: economic growth; GDP; emerging and developing economies; developed economies; International Monetary Fund; European Union; Eurozone (search for similar items in EconPapers)
Date: 2016
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