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Bidenomics Strikes Again: US Global Economic Share Dips Below 15% For First Time
The US share of the global economy has tanked below 15% during Joe Biden’s presidency. By the end of his term, it is projected to hit a record low of 14.76%, according to Sputnik calculations based on data from the World Bank and the International Monetary Fund. In 1990, the US accounted for 20.16% of the global economy, measured by purchasing power parity (PPP). That share peaked at 21.01% in 1999, with an economic output of $9.6 trillion, compared to a global output of $45.85 trillion. However, the US portion has steadily declined since, with the sharpest drop occurring between 2006 and 2008, when it fell by 0.6% annually. The US share temporarily increased during Barack Obama’s second term, reaching 16.26% in 2014 and 2015, but failed in sustaining the momentum.
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