Global overview

This report describes world economic growth, well being and interaction, specifically trends in GDP, poverty and world trade. In brief, this report shows that:

Economic Growth:

In the last several decades, total GDP and GDP per capita increased in OECD* countries, and in non OECD Eastern Europe and Asia. In contrast, there has been little overall growth in Africa and the Middle East.
(* OECD is the Organisation for Economic Co-operation and Development. Basically OECD are the more advanced economies.)

Economic Structure

Service Sector:

Since 1970, the majority of economic activity has been in the service sector; 41% in developing countries and 58% in developed countries.
By 2001, 52% of economic activity among developing countries was in service, and 72% of economic activity among developed countries.

Industry:

The pattern for industry is complex:
Mainly decline since 1980 in the developed world.
Slight declines in the developing countries of Africa and America, and recent increases in Asia and Oceania.

Agriculture:

In 2001, Agriculture was only 11% of economic activity in developing countries, and only 2% in developed countries.
However, agriculture is a very large part of the labor force, particularly in the developing countries, where it accounted for two thirds of the labor force in 1980 and still over one half in 2001.
Agriculture, as an economic activity and in the labor force, is particularly significant in Sub Saharan Africa and Oceania.
Agricultural productivity was very low in less developed countries. This explains why a large part of the labor force was in agriculture but only a small part of the GDP was in agriculture.


Poverty:

According to World Bank estimates, there has been an increase in the number of people in poverty in Europe, Central Asia, Latin America and Africa. In contrast, East and South Asia has seen a decline in the number of people in poverty (using $1 a day).
The percent of people in poverty has also increased in Europe, Central Asia, the Middle East and Africa, while the percent in poverty declined in East and South Asia and Latin America.
However, poverty is one of the most difficult indicators to measure. Thus, there is no universal agreement on poverty definitions or trends.

Thus, this is the first part of the review. Later, in the continuation of the report, the detailed analysys with charts will be presented to reflect the trends and to have better presentation for Yourself.