Global Economic Outlook
Annual Per Cent Change Unless Otherwise Indicated
2018 Share*   Forecast
Real GDP (%) 2018 2019 2020 2021
World 100.0 3.6 2.9 1.7 4.0
North America 18.5 2.8 2.0 0.8 2.1
   United States 15.2 2.9 2.3 1.0 2.1
   Canada 1.4 2.0 1.6 0.2 2.1
   Mexico 1.9 2.1 -0.1 -0.1 2.1
European Union (EU-28) 16.3 2.0 1.4 -1.4 2.5
   Euro Area (EU-19) 11.4 1.9 1.2 -1.6 2.5
        Germany 3.2 1.5 0.6 -0.5 2.1
        France  2.2 1.7 1.3 -1.5 1.9
        Italy 1.8 0.7 0.3 -2.9 2.0
   United Kingdom 2.2 1.3 1.4 -0.7 2.4
   EU accession members 2.6 4.0 3.1 -0.4 2.8
Asia 45.0 5.1 4.5 3.3 5.6
   Japan 4.1 0.3 0.7 -1.4 1.1
   Asian NIC's 3.4 2.8 1.7 1.2 3.6
        Hong Kong 0.4 2.9 -1.2 -2.5 3.8
        Korea 1.7 2.7 2.0 1.6 3.8
        Singapore  0.4 3.5 0.7 0.8 3.0
        Taiwan 0.9 2.7 2.7 2.1 3.6
   Russia 3.1 2.2 1.3 1.3 1.9
   Australia & New Zealand 1.1 2.8 1.9 1.2 2.5
Emerging Asia 33.2 6.3 5.7 4.3 6.8
        ASEAN-5 5.5 5.3 4.8 3.9 5.2
        China 18.7 6.8 6.1 4.1 7.3
        India** 7.7 6.1 5.2 5.0 6.7
Central/South America 5.6 0.3 -0.2 0.3 2.3
   Brazil 2.5 1.3 1.1 0.8 2.4
Other Emerging Markets 13.6 2.5 1.5 2.0 3.6
Other Advanced 1.1 2.6 1.7 1.4 2.2
*Share of world GDP on a purchasing-power-parity (PPP) basis.
Forecast as at March 2020. **Forecast for India refers to fiscal year. 
Source: IMF, TD Economics.