While accounting for slightly less than 6% of the world population, the EU generated 18.6% of the world GDP in 2018. This represented the second largest share after the United States (24.0%) and ahead of China (15.9%).
Compared to ten years before, the share of the EU in world GDP fell from 25.6% in 2008 to 18.6% in 2018, while the share of China rose significantly from 7.2% in 2008 to 15.9% in 2018, moving ahead of Japan (7.9% in 2008 and 5.8% in 2018). India's share of world GDP also increased greatly, such that it moved from the ninth largest G20 economy in 2008 (2.0% of world GDP) to the sixth largest by 2018 (3.2%), just behind the United Kingdom (3.3%).
Together, G20 members accounted for 86.2% of global GDP in 2018. It should be noted
Source:
Eurostat, 2 June 2020