In nominal terms, that's a 5.3% increase in global GDP. In inflation-adjusted terms, that would be a 2.8% increase.

As Visual Capitalist's Pallavi Rao details below, the year started with turmoil for the global economy, with financial markets rocked by the collapse of several mid-sized U.S. banks alongside persistent inflation and tightening monetary conditions in most countries. Nevertheless, some economies have proven to be resilient, and are expected to register growth from 2022.