Global Economic Outlook
Annual Per Cent Change Unless Otherwise Indicated
2018 Share* Forecast
Real GDP (%) 2020 2021 2022
World 100.0 -3.3 6.0 4.8
North America 18.5 -4.1 5.6 4.1
   United States 15.2 -3.5 5.7 4.3
   Canada 1.4 -5.4 6.0 3.9
   Mexico 1.9 -8.5 4.5 3.3
European Union (EU-28) 16.3 -6.4 4.5 4.7
   Euro Area (EU-19) 11.4 -6.8 4.5 4.4
        Germany 3.2 -5.3 4.0 4.0
        France  2.2 -8.2 5.7 3.7
        Italy 1.8 -8.9 4.9 4.3
   United Kingdom 2.2 -9.9 5.0 6.6
   EU accession members 2.6 -3.0 3.3 4.5
Asia 45.0 -1.9 7.3 4.9
   Japan 4.1 -4.9 2.9 2.2
   Asian NIC's 3.4 -0.9 4.2 3.2
        Hong Kong 0.4 -6.1 4.2 3.7
        Korea 1.7 -0.9 3.7 3.0
        Singapore  0.4 -5.4 6.3 4.0
        Taiwan 0.9 3.1 4.2 3.2
   Russia 3.1 -3.6 2.4 3.9
   Australia & New Zealand 1.1 -2.2 4.3 4.0
Emerging Asia 33.2 -1.4 8.7 5.5
        ASEAN-5 5.5 -3.7 6.1 5.7
        China 18.7 2.0 8.9 5.1
        India** 7.7 -9.1 10.4 6.3
Central/South America 5.6 -7.3 4.7 3.5
   Brazil 2.5 -4.4 4.1 3.3
Other Emerging Markets 13.6 -2.0 4.3 5.9
Other Advanced 1.1 -2.3 5.4 5.8
*Share of world GDP on a purchasing-power-parity (PPP) basis.
Forecast as at March 2021. **Forecast for India refers to fiscal year. 
Source: IMF, TD Economics.