Facts and Figures
A World Bank report released in December examined the impact of the financial crisis on GDP growth across the world. Here are some of the key projections for 2009:
- Global GDP growth will slip from 2.5 percent in 2008 to 0.9 percent. Developing country growth is expected to fall from 7.9 percent in 2007 to 4.5 percent in 2009.
- For the first time since 1982, world trade will contract by 2.1 percent.
- Investment growth in the developing world is projected to fall from 13 percent in 2007 to 3.5 percent in 2009.
- Compared to 2008, GDP growth in 2009 is expected to drop from 8.4 percent to 6.7 percent in East Asia and the Pacific; from 5.3 percent to 2.7 percent in Europe and Central Asia; from 4.4 percent to 2.1 percent in Latin America and the Caribbean; from 5.8 percent to 3.9 percent in the Middle East and North Africa; from 6.3 percent to in South Asia; and from 5.4 percent to 4.6 percent in Sub-Saharan Africa.
Source: Global Economic Prospects 2009 : Commodities at the Crossroads. The Word Bank, 9 December 2008