DEPARTMENT OF ECONOMICS

ECONOMIC POLICY MANAGEMENT PROGRAM

UNIVERSITY OF GHANA

COURSE CODE: EPMP 664

STUDENT ID 10939286

COURSE TITLE: DEVELOPMENT ECONOMICS

LECTURERS DR. PRISCILLA BAFFOUR TWUMASI

Chart 1 below depicts the contributions of the various regions to global GDP in the year 2000.
North America, led by USA and Canada, held the largest share of contribution to global GDP
(32%) and was followed by the Europe & Central Asia region, led by the Euro zone, with a 30%
contribution to GDP. The East Asia & Pacific region, led by China, India, Japan, South Korea and
Singapore, were the third largest contributor to global GDP with a contribution of 25%. Middle
Ease & North Africa, South Asia and Sub-Saharan Africa lagged in terms of their contribution to
global GDP with a combined contribution of 6%.

GDP IN US$ 2000

Sub-Saharan Africa South Asia
1% 2%

East Asia & Pacific

North America 25%
33%

Europe & Central

Asia
30%

Middle East & North Africa

3%
Latin America & Caribbean
7%

East Asia & Pacific Europe & Central Asia Latin America & Caribbean Middle East & North Africa
North America Sub-Saharan Africa South Asia
 By 2010, as depicted below, North America’s share of contribution to global GDP had declined from
32% in 2000 to 25% in 2010. At the same time, Europe and Central Asia’s share of contribution to global
GDP had increased from 30% in 2000 to 32% by 2010. The East Asia & Pacific region experienced
marginal increase in their contribution to global GDP with a contribution of 26%. Middle Ease & North
Africa, South Asia and Sub-Saharan Africa experienced some modest increases in their contribution to
global GDP from 6% in 2000 to 9% in 2010

GDP IN US$ 2010

Sub-Saharan Africa South Asia
2% 3%

North America East Asia & Pacific

25% 26%

Europe & Central

Asia
Middle East & North Africa 32%
4%

Latin America & Caribbean

8%

East Asia & Pacific Europe & Central Asia Latin America & Caribbean Middle East & North Africa
North America Sub-Saharan Africa South Asia
 By 2019, as depicted in Chart below, East Asia & Pacific region, led by China, and the Asian tigers had
the highest contribution to global GDP of 31%. They were followed by North America and
Europe & Central Asia with a contribution of 26% each. Middle Ease & North Africa, South Asia and
Sub-Saharan Africa continued to lag in their contribution to global GDP with a combined contribution of
10%.

GDP IN US$ 2019

Sub-Saharan Africa South Asia
2% 4%

North America East Asia & Pacific

26% 31%

Europe & Central

Asia
Middle East & North Africa 26%
4%
Latin America & Caribbean
6%

East Asia & Pacific Europe & Central Asia Latin America & Caribbean Middle East & North Africa
North America Sub-Saharan Africa South Asia

With the advent of Covid in 2020, as depicted in Chart 4 below, East Asia & Pacific region continue

to lead in the contribution to global GDP at 32%. They were followed by North America and Europe

& Central Asia with a contribution of 26% each. Middle Ease & North Africa, South Asia and

SubSaharan Africa continued to lag in their contribution to global GDP with a combined contribution

of 10%.
 GDP IN US$ 2020
Sub-Saharan Africa South Asia
2% 4%

North America East Asia & Pacific

27% 32%

Europe & Central

Middle East & North Africa Asia
4% 26%
Latin America & Caribbean
6%

East Asia & Pacific Europe & Central Asia Latin America & Caribbean Middle East & North Africa
North America Sub-Saharan Africa South Asia

The pie charts above provide a comprehensive visual analysis of the regions of the world’s
contributions to global GDP specifically looking at it from the years 2000, 2010,2019, and 2020.
Sub-Saharan Africa has been consistent in all these years.
 POPULATION
2,500,000,000.00

2,000,000,000.00

1,500,000,000.00

1,000,000,000.00

500,000,000.00

-
East Asia & Europe & Central Latin America & Middle East & North America Sub-Saharan South Asia
Pacific Asia Caribbean North Africa Africa

2000 2010 2019 2020

Population in the various continents have been on a general ascendency over the years under
consideration as depicted in the Chart above. The chart also shows that the region with the highest
population is the East Asia & Pacific region, followed by the South Asia and Sub-Saharan region. The
region with the least population is the North America region.

GDP IN US$
30,000,000,000,000.00

25,000,000,000,000.00

20,000,000,000,000.00

15,000,000,000,000.00

10,000,000,000,000.00

5,000,000,000,000.00

-
c
As
ia sia ric
a
cifi ric
a
ea
n ic a
h al
A
Af Pa Af rr ib er
ut tr th sia an a Am
So Cen Nor A har a /C rth
e/ st
/ st Sa ric No
po Ea Ea b e
Eu
r e Su Am
dl tin
id La
M

2000 2010 2011 2020

The trend of growth in GDP in the various continents as depicted in the Chart above shows that
generally GDP has been on the rise in the various regions over the years. The chart also shows that
except for East Asia & Pacific region, all other regions experienced a fall in GDP in the year 2020 due to
the impact of Covid
 LABOUR FORCE
1,400,000,000.00

1,200,000,000.00

1,000,000,000.00

800,000,000.00

600,000,000.00

400,000,000.00

200,000,000.00

-
East Asia & Europe & Central Latin America & Middle East & North America Sub-Saharan South Asia
Pacific Asia Caribbean North Africa Africa

2000 2010 2019 2020

Labour force in the various continents have followed the trend of population in the various
continents and has expectedly been on a general ascendency over the years under
consideration as depicted in the Chart above. In line with the population structure, the region
with the highest labour force is the East Asia & Pacific region, followed by the South Asia and
Sub-Saharan region. The region with the least labour force is the North America region.

PRODUCTIVITY
140,000.00

120,000.00

100,000.00

80,000.00

60,000.00

40,000.00

20,000.00

-
East Asia & Europe & Central Latin America & Middle East & North America Sub-Saharan South Asia
Pacific Asia Caribbean North Africa Africa

2000 2010 2019 2020

Even though East Asia’s GDP continue to be high, an equally higher population makes their
productivity very low as compared to North America, Europe and Central Asia. Interestingly, North
Americas labour force is comparatively lower than other regions but productivity is the highest among
the various regions. With a very high GDP, the conclusion can be a more reliance on technology
advancement in propelling the growth in both 2019 and 2020.