Global GDP in the context of "International dollar"

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⭐ Core Definition: Global GDP

The gross world product (GWP), also known as gross world income (GWI), is the combined gross national income (previously, the "gross national product") of all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product (GDP). According to the World Bank, the 2013 nominal GWP was approximately 75.59 trillion United States dollars. In 2017, according to the CIA's World Factbook, the GWP was around $80.27 trillion in nominal terms and totaled approximately 127.8 trillion international dollars in terms of purchasing power parity (PPP). The per capita PPP GWP in 2017 was approximately 17,500 international dollars according to the World Factbook. According to the World Bank, the 2020 GWP in current dollars was approximately $84.705 trillion.

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Global GDP in the context of European Political Community

The European Political Community (EPC) is an intergovernmental forum for political and strategic discussions about the future of Europe, established in 2022 after the Russian invasion of Ukraine. The group first met in October 2022 in Prague, with participants from 44 European countries, as well as the Presidents of the European Council and the European Commission. It is distinct from both the European Union (which is a participant) and the Council of Europe (represented by its Secretary General). The 47 EPC participating states are home to 689.5 million people, constitute 8.7 percent of the world's population and represent about 23.5 percent of the global GDP.

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