The U.S. Department of Agriculture (USDA), Economic Research Service (ERS) International Macroeconomic Data Set provides historical and 10-year projected macroeconomic variables for 181 countries, as well as regional and income groupings, which account for more than 99 percent of the world economy. The main macroeconomic variables include the real Gross Domestic Product (real GDP), Consumer Price Index (CPI), exchange rates, and population. These indicators are the benchmark for the annual USDA Baseline agricultural supply and demand projections, providing a 10-year outlook on U.S. and global agricultural variables. These projections also relay information on the overall health of international economies in the near future to the USDA, its stakeholders, and a variety of policymakers and market participants. These projections were completed in August 2023 based on data and expectations at that time. This report details the macroeconomic projections from 2023 to 2033. To help users interpret the projection numbers, this report also provides the state of the global economy and an analysis of the influence of events over the past year in various regions and countries.
Details
Title
United States and Global Macroeconomic Projections to 2033
Record Identifier
https://ageconsearch.umn.edu/record/342469
Language
English
Total Pages
29
Note
This report describes the data in the USDA Baseline by comparing projections for the upcoming decade with historical data from the previous decade and by comparing annual historical and forecast data for 2021–24. To interpret and support the projections, the authors researched the major economic forces and conflicts that help shape projections for the global economy and analyzed regional factors for individual regions and countries. The macroeconomic projections draw upon related projections prepared by other U.S. Government agencies and forecasts informed by proprietary data sources. The USDA, ERS macroeconomic team also receives input from USDA, ERS’ country and regional trade analysts who contribute to the development of the international component of the long-term Baseline. The macroeconomic projections were completed using data from August 2023 based on expectations at that time. The USDA Baseline’s macroeconomic projections are based on annual growth rates collected and estimated each year. For each country and for regional aggregates, annual historical data cover the period from 1970 to 2022, and each variable is projected from 2023 to 2033. Data are in constant 2015 U.S. dollars where applicable. Macroeconomic variables, both historical and projected values, are reported in annual levels and growth rates.
Series Statement
Economic Information Bulletin No. 272
