Selected indicators

Following the recession in 2009, the world economy recovered and recorded a staggering annual real GDP growth rate of 4.0 per cent in 2010. The worldwide growth rate continued to record positive but rather decreasing figures over the next three years, with respectively 2.8, 2.4 and 2.1 per cent for 2011, 2012 and 2013. However, the trend was reversed in 2014 as the world annual real GDP recorded a growth rate of 3.0 per cent. While the sustained growth rates of developing countries continued to compensate for the low growth rates of developed countries, the growth rate for both developed and developing countries followed the same curve as the world economy and reached respectively 1.9 and 5.1 per cent in 2014. In 2011, ESCWA member countries recorded a growth rate of 2 per cent, down from 5.2 per cent in 2010. This recession was majorly caused by the unstable security situation due to the political uprisings that took place in many Arab countries. However, the region regained its balance in 2012 and recorded a growth rate of 5.5 per cent, exceeding the growth rates of both developed and developing countries for that year, followed by a growth rate of 3 and 3.6 per cent for the years 2013 and 2014 respectively.

Related Subject(s): Economic and Social Development
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