Developing economies now produce 41 percent of the world’s output, up from 36 percent in 2000, according to World Development Indicators (WDI) 2008. The combined output of the world’s economies reached $59 trillion in 2006. Using new measurements that take into account the differences in price levels between countries, China now ranks as the second largest economy in the world, and 5 of the 12 largest economies are developing economies. WDI 2008 introduces new estimates of purchasing power parity (PPPs), which are used to convert local currencies to a common currency, in this case the US dollar. The new PPPs replace previous benchmark estimates, many of them from 1993 and some dating back to the 1980s.
A new World Bank-IMF report warns that most countries will fall short on the Millennium Development Goals (MDGs), a set of eight globally agreed development goals with a due date of 2015. Though much of the world is set to cut extreme poverty in half by then, prospects are gravest for the goals of reducing child and maternal mortality, with serious shortfalls also likely in primary school completion, nutrition, and sanitation goals. The report also notes that reducing malnutrition has a ‘multiplier’ effect, contributing to success in other MDGs including maternal health, infant mortality, and education. It stresses the link between environment and development and warns that developing countries stand to suffer the most from climate change and the degradation of natural resources.
The Online Atlas of the MDGs is an innovative visualization of the Millennium Development Goals that complements the World Bank's MDG website. It explores maps of key indicators for each of the eight MDG goals, resizes countries to reflect comparative values, and pulls up quick tables of supporting indicators. The Online Atlas is also available in French and Spanish.
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