12 August 2021

World GDP Still Shrinking from Coronavirus Pandemic

The triple dip global recession from the coronavirus pandemic continued deepening in July 2021.

Evidence supporting that conclusion is visible in the falling rate at which carbon dioxide is being added to the Earth's atmosphere. The trailing year average of that rate continued to fall in July 2021, as shown in the latest update to the chart tracking its history since January 1960.

Trailing Twelve Month Average of Year-Over-Year Change in Parts per Million of Atmospheric Carbon Dioxide, January 1960 - July 2021

Since December 2019, a net reduction of 0.49 parts per million of atmospheric carbon dioxide has been recorded in the trailing twelve month average of the year over year rate of change in atmospheric carbon dioxide levels measured at the remote Mauna Loa Observatory. We can convert that change into an estimate of the lost GDP for the global economy using the following tool. If you're accessing this article on a site that republishes our RSS news feed, please click through to our site to access a working version of the tool.

Change in Atmospheric Carbon Dioxide
Input Data Values
Change in Carbon Dioxide in Atmosphere [Parts per Million]
World Population [billions]

Change in Amount of Carbon Dioxide Emitted into Atmosphere
Calculated Results Values
Carbon Dioxide Emissions [billions of Metric Tonnes]
Estimated Net Change in World GDP [trillions]

Using these default values, we estimate the net loss to global GDP since the SARS-CoV-2 coronavirus emerged in China and began impacting the world economy is closing in on $16.3 trillion.

References

National Oceanographic and Atmospheric Administration. Earth System Research Laboratory. Mauna Loa Observatory CO2 Data. [Text File]. Updated 5 August 2021. Accessed 5 August 2021.

Previously on Political Calculations

Here is our series quantifying the negative impact of the coronavirus pandemic on the Earth's economy, presented in reverse chronological order.

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