Global Gross Domestic Product Research Articles

Artificial Intelligence in the Effective Execution Process of Construction Projects in the Future

The construction industry currently constitutes 13% of the global gross domestic product (GDP), with projections indicating an 85% increase in value to $15.5 trillion by 2030. The widespread adoption of information technology (IT) has significantly enhanced the integration of disparate data in construction project environments. Consequently, the construction sector including full construction value chain, is undergoing a transformative phase. The increasing investment in artificial intelligence (AI) makes it impossible to keep pace with its rapid advancements. Hence, this study aims to examine the role of AI in facilitating the effective execution of construction projects in the future. This research employs a document analysis approach and scrutinizes 20 relevant papers from both domestic and international scientific databases. Methodologically, this study adopts an applied research approach, and based on the method of data collection, it is considered a descriptive survey method. Therefore, a questionnaire was designed and distributed among 100 experts and practitioners familiar with AI concepts in Tehran for data collection to conduct a census-style field study. Subsequently, Smart PLS software was employed for data analysis. The findings not only validate the model's reliability, validity and fit but also present solutions and pertinent issues related to challenges concerning AI future role in enhancing project execution efficacy.

Asia's Leading Percentage Share of Global GDP (2000-2022): Trends, Drivers, and Implications

This study explores the intricate correlation between Gross Domestic Product (GDP) and exports in the top ten Asian economies from 2000 to 2022. Employing a quantitative research approach, the investigation utilizes extensive secondary data to discern patterns and dynamics impacting economic output within international trade. The analysis presents statistically significant connection between export potential and GDP across the sampled countries. According to the study, Asia's percentage share of global GDP has been growing steadily since 2000, indicating sustained economic growth in the region. Factors such as economic reforms, globalization, and technological advancements emerge as pivotal contributors to Asia's evolving role in the global economic landscape. Acknowledging limitations, including presumptions of a linear relationship and the exclusion of country-specific contextual factors, underscores the necessity for prudent interpretation. By amalgamating these findings with a comprehensive research methodology encompassing data collection, statistical analyses, and hypothesis testing, this study furnishes a holistic understanding of the multifaceted interactions shaping the economic trajectories of these nations.

Planetary Welcare principles for just and sustainable futures: a compass for system change, trade reforms, and transformations

International trade, a cornerstone of the global economy, has witnessed substantial growth since the start of the 21st century. This expansion, largely driven by liberalizing policies and supported by initiatives like the United Nations Sustainable Development Goals, has deeply integrated economies worldwide, making trade a substantial part of global gross domestic product (GDP). However, this growth also spotlights cultural, social, and environmental consequences. Studies indicate that trade is responsible for up to 70% of global environmental impacts, often transferring burdens from “developed” to “developing” nations. While trade bolsters economies, it also poses risks to people, nature, and the planet. In this article, I introduce the Planetary Welcare compass, an innovative framework designed to navigate these multifaceted challenges and drive transformative change. This framework integrates diverse perspectives on development, equity, sustainability, and planetary health into five interconnected principles: enhancing well-being, promoting balanced consumption, fostering accountability with integrity, embracing rooted globalism, and championing environmental stewardship. The article delves into the foundation of this framework and applies it to the overarching strategies of both the World Trade Organization (WTO) and the International Fair Trade Charter (IFTC), highlighting their divergent approaches and associated challenges. In conclusion, the Planetary Welcare compass offers a comprehensive set of principles to guide and assess production and consumption systems, including trade policies and agreements. It suggests a significant shift from the traditional welfare-state model toward a broader focus on planetary health, equity, and sustainability, ushering in the emergence of a “Welcare state” paradigm for a just and sustainable future.

The War in Ukraine and Its Impact on Global Agricultural Trade

Summary The Russian invasion of Ukraine represents an unforeseen and significant market disruption for global trade with wide-ranging effects on global trade, particularly on the economies of the major import countries of Ukrainian agricultural commodities. The general impact and consequences of the war on the global economy are described, and key components of the market disruptions are identified and put into a historical and geographical context. The degree of interconnectedness between the war in Ukraine and world trade and global gross domestic product (GDP) indices is highlighted. Changes in production and export volumes of the main Ukrainian agricultural commodities and their impact on major import countries are described. Actual and future measures to stabilise and soften the volatility of affected agricultural markets are presented.

Current trends in the development of small and medium–sized businesses

According to the World Bank, small and medium–sized enterprises (SMEs) represent 90% of enterprises and more than 50% of jobs worldwide, they contribute almost 50% of gross domestic product (GDP) to global GDP. Small business is important for any economy in terms of employment and contribution to the national gross domestic product. Despite its importance, small businesses continue to face various unresolved problems. The latest technological innovations in the field of finance, which are collectively called fintech, seem to solve some problems, causing the development of a steady trend of digitalization of the sphere of small and medium–sized businesses. Fintech–based business models, such as crowdfunding, peer–to–peer lending, billing, mobile wallets and payments, as well as supply chain financing on the platform, are changing the ecosystem of small and medium–sized businesses. The article examines the current trends in the development of small and medium–sized businesses in the context of digital financial products developed within the framework of fintech innovations.

Effect of External Debt on Performance of the Agricultural Sector in Kenya

Agriculture forms the backbone of the economy in most developing and developed countries. Its production has increased significantly over the last three to four decades. In 2018, it contributed to about 4% of global gross domestic product (GDP), and in 2020, it accounted for 35 percent of the gross domestic product (GDP) and 65 percent of foreign exchange earnings in Kenya. It’s also a primary source of raw materials for both national and international industries. However, its performance has been declining over the years, and there is a dearth of information with regard to how external debt has affected the sector’s performance. Thus, this study sought to investigate the effect of external debt on the performance of the agricultural sector in Kenya. A correlational research design was adopted. The time series data used in the study was obtained from the databases of World Development Indicators and Statista, covering the period from 2012 to 2020. The data was analyzed using EViews software. The findings revealed that external debt had a significant positive effect on the performance of the agricultural sector in Kenya. Therefore, according to the study, the government of Kenya needs to invest more external debt in agriculture to spur agricultural sector growth.

To What Extent Will Space Debris Impact the Economy?

With the expansion of the space industry, debris congestion has become a serious problem. When space debris collides with satellites in orbit, it may damage the satellites or, in the worst case, cause an explosion. While economic activity influences debris congestion, debris can also influence the economy. To what extent does debris affect the economy? Furthermore, what would be the optimal path of debris emission considering the economy and space environment? This study aims to quantify the severity of the problem. We simulate the damage caused by the environmental problem of orbital debris using a standard economic growth model in macroeconomics, augmented with a satellite sector and collision possibility. In the model, launching satellites means two things: more factors of production and more orbital objects. A newly launched satellite provides satellite services to the economy and increases production capacity. At the same time, by being placed in orbit, a satellite increases the risk of collisions. Our results show that debris will cause negative damage of approximately 1.95% of global Gross Domestic Product (GDP) in the long term if no debris is remediated at all.

Assessing the economic implications of national climate change mitigation policies on cities: A CGE analysis of Auckland, New Zealand

Computable General Equilibrium (CGE) models have proven to be instrumental in the climate policy literature. Although their use at the sub-national level has increased, their application to assess the implications of national climate policies on cities is scarce due to the low availability of city-level economic and environmental data. Cities could play an instrumental role in the fight against climate change as they are home to more than half of the world population, generate more than 80% of global Gross Domestic Product (GDP) and are responsible for 75% of global greenhouse gas (GHG) emissions. National CGE assessments of climate policies overlooking cities could result in missing major opportunities to achieve ambitious reduction targets considering that cities are centres of innovation and wealth. Hence, the objective of this study is to fill that gap in the literature by developing and using a recursive dynamic, multi-regional CGE model to link a city's economy to the rest of the nation to assess the direct and indirect economic impacts from national GHG emissions reduction pathways. The city of Auckland, New Zealand (NZ) has been used as a case study due to the city's proactive climate mitigation plans. The model and scenarios used resemble the ones developed by the New Zealand Climate Change Commission (CCC) to inform national policy advise provided to the government. Additional scenarios were developed to incorporate Auckland's growth and climate strategies. The results showed that in contrast to the rest of New Zealand, the impacts on the Auckland economy are more pronounced as reflected by the more drastic percent changes (with respect to baseline) of the regional GDP (−6% for Auckland and −1% for NZ) and consumer welfare (−5% for Auckland and 1% for NZ). The more pronounced impacts on Auckland are due to the difference in profile emissions (e.g., urban versus rural sectors), fewer low-emission technological alternatives (e.g., rural technologies do not cater to urban sectors' needs), and indirect impacts from importing agricultural products with a higher price tag due to rising GHG prices. This study's contribution in the climate policy literature is to serve as evidence and precedent to carefully evaluate the nuances encountered in complex urban systems when developing national climate policies considering that the number of countries establishing legally binding reduction targets is continually increasing.

The global economic burden of chronic obstructive pulmonary disease for 204 countries and territories in 2020–50: a health-augmented macroeconomic modelling study

Chronic obstructive pulmonary disease (COPD) is the third leading cause of death worldwide and imposes a substantial economic burden. Gaining a thorough understanding of the economic implications of COPD is an important prerequisite for sound, evidence-based policy making. We aimed to estimate the macroeconomic burden of COPD for each country and establish its distribution across world regions. In this health-augmented macroeconomic modelling study we estimated the macroeconomic burden of COPD for 204 countries and territories over the period 2020-50. The model accounted for (1) the effect of COPD mortality and morbidity on labour supply, (2) age and sex specific differences in education and work experience among those affected by COPD, and (3) the impact of COPD treatment costs on physical capital accumulation. We obtained data from various public sources including the Global Burden of Disease Study 2019, the World Bank database, and the literature. The macroeconomic burden of COPD was assessed by comparing gross domestic product (GDP) between a scenario projecting disease prevalence based on current estimates and a counterfactual scenario with zero COPD prevalence from 2020 to 2050. Our findings suggest that COPD will cost the world economy INT$4·326 trillion (uncertainty interval 3·327-5·516; at constant 2017 prices) in 2020-50. This economic effect is equivalent to a yearly tax of 0·111% (0·085-0·141) on global GDP. China and the USA face the largest economic burdens from COPD, accounting for INT$1·363 trillion (uncertainty interval 1·034-1·801) and INT$1·037 trillion (0·868-1·175), respectively. The macroeconomic burden of COPD is large and unequally distributed across countries, world regions, and income levels. Our study stresses the urgent need to invest in global efforts to curb the health and economic burdens of COPD. Investments in effective interventions against COPD do not represent a burden but could instead provide substantial economic returns in the foreseeable future. Alexander von Humboldt Foundation, National Natural Science Foundation of China, CAMS Innovation Fund for Medical Science, Chinese Academy of Engineering project, Chinese Academy of Medical Sciences and Peking Union Medical College project, and Horizon Europe. For the Chinese and German translations of the abstract see Supplementary Materials section.

Climate Impact and Feasibility Analysis of Global Green GDP Based on Improved Weight Method and K-Means Method

Gross domestic product (GDP) is a widely used economic indicator, but it does not consider economy related to natural resources. It may not accurately reflect a country's economic well-being. In this study, the potential of using "green GDP" (GGDP) and the GGDP index as primary indicators of economic health with a focus on climate implications is explored. The article proposes a new GGDP model and index that incorporate three key factors including environment, economy, and society with four quantifiable indicators within each factor. The weights for the indicators are calculated based on improved weight method containing entropy weight method and CRITIC method. GGDP model places emphasis on climate mitigation and employs grey correlation analysis and univariate linear regression. Furthermore, the GGDPGI model has been developed to assess the feasibility of replacing GDP with GGDP as the primary measure of economic growth. Our results suggest that using GGDP and the GGDP index as primary indicators is not only feasible but also meaningful for evaluating a country's economic growth.

CHALLENGES OF NIGERIA’S DIGITAL ECONOMY: WAY FORWARD

The digital economy is becoming a more important part of the global economy. The digital economy is worth $11.5 trillion globally, comparable to 15.5 percent of global Gross Domestic Product (GDP), and has risen two and a half times faster than global GDP over the past 15 years. The importance of the digital economy to a nation’s GDP cannot be exaggerated. For all its potential, the digital economy is yet a rough diamond. The paper argues that the government must act as a regulator in order for the country to fully profit from the digital potential available. To be an effective regulator, the government must endeavour to remain ahead of the curve, comprehend the nuances of this type of business, and recognise that the digital economy cannot be governed in the same way as a traditional industry. The government's involvement as a regulator may extend to areas such as intellectual property, taxation, data security, and cyber security. The study applied a conceptual, descriptive and analytical approach, relying on extant literature on the benefits and challenges in the digital economy, focusing on the participation of government to maximize the sectors’ potential. Data were collected from statutes and case laws, relevant books, journal articles, materials from periodicals in these fields and materials from the internet, all data obtained was subjected to content analysis.

Are Energy Reductions Compatible with Economic Growth?

Our planet faces several serious and urgent challenges to sustainability including, but not limited to, climate change; however, most researchers argue that technological solutions can solve these problems. This review first examines the prospects for decoupling environmental damages in general from economic growth, considered at the global level; then, it looks at whether the recent advances in information and communication technology (ICT) can help. It is argued that although absolute decoupling may have occurred in some countries—even after accounting for energy-intensive imports—it has not occurred at the global level, which is the relevant level for global sustainability problems. This conclusion is strengthened by the very high correlation over the past three decades found between global gross domestic product (GDP) and several parameters relevant for sustainability, particularly for atmospheric CO2 concentrations and ecological footprint as a function of GDP. ICT innovations relevant to energy use include smart grids and smart cities, especially smart urban transport. A review of recently published papers shows no definite findings of energy or carbon reduction, although some innovations show energy/carbon reduction potential if given strong policy support. Overall, it was concluded that the Earth’s sustainability challenges will probably need deep energy reductions, which in turn require profound sociopolitical changes.

A framework for assessing a country’s scientific productivity based on published articles by scientists affiliated with that country

PurposeThis study aims to propose a framework to assess the scientific productivity performance of a country in terms of its international visibility and national capabilities.Design/methodology/approachIn a given subject, all publications with at least one author from the target country as well as the received citations are counted as quantitative and qualitative indicators, respectively. The ratios of these counts to their expected values, which are estimated according to the global gross domestic product (GDP) and population percentages of the country are used to assess international visibility. Also, in certain publications, all authors are from the target country, therefore, their publication and citation proportions are provided as metrics of national competence.FindingsAs a sample, this study analyzes Turkey’s performance in “Business, Economics & Management” and “Engineering & Computer Science” in the top 20 publication venues of the regarding subject areas according to Google Scholar Metrics taxonomy. This study shows that in some subfields, Turkey’s performance is 2.73–6 times as per expectations. This study also provides the international visibility assessment of all countries for the past two decades in “Theoretical Computer Science” which shows that Israel is a leading country based on this framework.Originality/valueThis paper introduces new indices to evaluate a country’s national competence and international visibility on a subject field based on the number of published papers affiliated with the country and their citations by considering the global GDP and population share.

Anthropogenic influence on extremes and risk hotspots

Study of the frequency and magnitude of climate extremes as the world warms is of utmost importance, especially separating the influence of natural and anthropogenic forcing factors. Record-breaking temperature and precipitation events have been studied using event-attribution techniques. Here, we provide spatial and temporal observation-based analyses of the role of natural and anthropogenic factors, using state-of-the-art time series methods. We show that the risk from extreme temperature and rainfall events has severely increased for most regions worldwide. In some areas the probabilities of occurrence of extreme temperatures and precipitation have increased at least fivefold and twofold, respectively. Anthropogenic forcing has been the main driver of such increases and its effects amplify those of natural forcing. We also identify risk hotspots defined as regions for which increased risk of extreme events and high exposure in terms of either high Gross Domestic Product (GDP) or large population are both present. For the year 2018, increased anthropogenic forcings are mostly responsible for increased risk to extreme temperature/precipitation affecting 94%/72% of global population and 97%/76% of global GDP relative to the baseline period 1961–1990.

Editorial: Climate Change, Entrepreneurship, Local Development in BRICS Nations During and After COVID-19

The BRICS encompasses nations with increasing relevance for the world in various dimensions that includes but not limited to the fact that it carries 40 percent of the world population at 3,24 billion people and contributes about US$ 23,4 trillion to the global Gross Domestic Product (GDP). BRICS has opted to operate and make maximum contribution and influence globally through its three pillars of: political and security cooperation, financial and economic cooperation, and cultural and people to people cooperation. Through the work that BRICS champions in these pillars, it is making unparalleled global influence in the spheres of economic, political, social, demographic, and environmental architecture. The primary objective of this special journal issue is to consolidate a wide range of viewpoints and scholarly investigations pertaining to the interplay between climate change, entrepreneurship, local development within the BRICS nations in the context of the COVID-19 pandemic, both during and after its occurrence. Policymakers, government agencies, and international organizations heavily depend on robust research findings to formulate and implement policies and programs that are effective in achieving their intended objectives. Research conducted in these specific domains, therefore, has the potential to yield evidence-based recommendations that can effectively reinforce economic growth, promote sustainable development, and foster social progress within the BRICS nations.

Labour productivity and economic impacts of carbon mitigation: a modelling study and benefit–cost analysis

Despite the emerging carbon neutrality pledges from different countries, it is still unclear how much these pledges would cost and how the costs would compare with the economic benefits. Comparisons at the country level are important for tightening country-specific emissions trajectories to keep the temperature limit targets outlined in the Paris Agreement within reach. We aimed to systematically estimate avoided heat-related labour productivity losses against the costs of climate change mitigation at country and regional levels. In this modelling study, to address the above-mentioned research gaps, we first selected two representative climate change scenarios (Representative Concentration Pathway 6.0 [RCP6.0] scenario, a higher warming scenario representing limited mitigation pledges before the Paris Agreement with around 3°C warming by the end of this century; and RCP2.6 scenario, a lower warming scenario assuming global temperature rise is limited to 2°C) and estimated heat-related labour productivity loss using the exposure-response function at country and regional levels. By representing the direct heat-related labour productivity losses in a multiregional global computable general equilibrium model, we then did a benefit-cost analysis to quantify the economic benefits of avoided heat-related labour productivity losses as well as the estimated reduction in gross domestic product (GDP) related to carbon reduction. By 2100, the overall economic losses due to heat-related labour productivity loss could range from about 1·5% of global GDP under the RCP6.0 scenario to about 0·1% of global GDP under the RCP2.6 scenario. The productivity losses will be highly concentrated in low-latitude regions, especially in southeast Asia, India, and the Middle East, implying the necessity of additional adaptation measures. By 2100, about 51·8% of global climate change mitigation costs could be offset by economic benefits from reduced labour productivity losses. Cumulatively, about 17·0% of climate change mitigation costs could be offset by the economic benefits between 2020 and 2100, when using a 2% social discounting rate. The costs and benefits of climate change mitigation will be distributed highly unevenly across regions due to their varying climate zones and economic structures. Regions with benefits from reduced productivity losses higher than mitigation costs are mainly low-latitude and tropical regions with lower income and lower emissions, such as southeast Asia, Brazil, and Mexico. More than half the climate change mitigation costs could be offset by the economic benefits by 2100 for the world's largest emitters, including the USA, China, the EU, and India. Low benefit-cost ratios are expected in economies that rely on fossil fuels, such as Canada, Russia, and the Middle East. Although pledging carbon neutrality implies radical changes to most economies, substantial health and economic gains can be achieved by reduced heat-related labour productivity loss, even without accounting for other benefits. The benefit-cost analysis in this study shows the potential for choosing more stringent climate change mitigation pathways in some regions. Regions with low benefit-cost ratios need to restructure their economies to reduce mitigation costs as well as losses from declined fossil fuel exports. National Natural Science Foundation of China, Tsinghua-Toyota Joint Research Fund, the Wellcome Trust, Tsinghua University-China Three Gorges Corporation Joint Research Center for Climate Governance Mechanism and Green Low-carbon Transformation Strategy, the National Research Foundation, Prime Minister's Office, Singapore (Campus for Research Excellence and Technological Enterprise [CREATE] programme), and the Global Energy Interconnection Development and Coorperation Organization.

Remote Sensing Evidence for Significant Variations in the Global Gross Domestic Product during the COVID-19 Epidemic

Coronavirus disease 2019 (COVID-19) has been spreading rapidly and is still threatening human health currently. A series of measures for restraining epidemic spreading has been adopted throughout the world, which seriously impacted the gross domestic product (GDP) globally. However, details of the changes in the GDP and its spatial heterogeneity characteristics on a fine scale worldwide during the pandemic are still uncertain. We designed a novel scheme to simulate a 0.1° × 0.1° resolution grid global GDP map during the COVID-19 pandemic. Simulated nighttime-light remotely sensed data (SNTL) was forecasted via a GM(1, 1) model under the assumption that there was no COVID-19 epidemic in 2020. We constructed a geographically weighted regression (GWR) model to determine the quantitative relationship between the variation of nighttime light (ΔNTL) and the variation of GDP (ΔGDP). The scheme can detect and explain the spatial heterogeneity of ΔGDP at the grid scale. It is found that a series of policies played an obvious role in affecting GDP. This work demonstrated that the global GDP, except for in a few countries, represented a remarkably decreasing trend, whereas the ΔGDP exhibited significant differences.

Innovation as an accelerating effect on Gross Domestic Product (GDP) per capita

Most economists agree that innovation is a key driver of economic growth, prosperity and human well-being. Patents are an important indicator of innovation output. This study aims to investigate the relationship between patents as an innovation output and Gross Domestic Product (GDP) per capita as an economic welfare.
 In the study 166 countries were analyzed and a high positive correlation between patent grants per million population and GDP per capita as 0.804. The inequality in income distribution in the world is also clearly seen in the distribution of patent grants. High-income countries have 61 percent of global income whereas they have 66.9 percent of total patent grants in the world. Low-income countries have 0.5 percent of global income whereas they have 0.3 percent of total patent grants in the world. Global average patent grants per million population is 221.3 in 2020. Patent grants per million population is 943.6 in high-income countries and 8.6 in low-income countries. Test results show that, the natural logarithm of patent grants per million population increase 10 percent, it causes approximately 4.1 percent increase in natural logarithm of GDP per capita. In other words, if patent grants per million population in the world increase 23.3, it causes approximately 523.1 USD increase in global GDP per capita in average.

IMPLICATIONS OF THE APPLICATION OF BLOCKCHAIN TECHNOLOGY IN ACCOUNTING AND PUBLIC FINANCE

This paper aims to analyze the implications of blockchain technology in the accounting profession and the government sector. Blockchain technology, unknown until just a decade ago, emerged from the shadow of bitcoin and is now at the center of the debate about the future of the digital economy. Blockchain is a decentralized database secured by cryptographic protection, which is estimated to store about 10% of global gross domestic product (GDP) on its platform by 2027. Double-entry bookkeeping, which has been used for more than 500 years, in today's era of technological change and applied blockchain technology, could develop a new system, the triple-entry bookkeeping. Dominant market leaders in this field PwC, Deloitte, EY and KPMG have already begun research to introduce this technology into their business practices. The application of blockchain technology, in addition to the private sector, could also be used in the government sector, especially in the field of taxes. Blockchain would eliminate retroactive tax recording and provide an automated and impenetrable platform for many types of tax fraud. However, the adoption of blockchain technology, like any new technology, depends on its ability to overcome regulatory, technical and societal challenges.

Іmpact of Ukraine-Russia war on global trade and development: an empirical study

The crisis in Ukraine has created a humanitarian crisis of immense proportions and has also dealt a severe blow to the globe economy. The brunt of the suffering and destruction are being felt by the people of Ukraine themselves but the prices in terms of reduced trade and output are likely to be felt by people round the world through higher food and energy prices and reduced availability of products exported by Russia and Ukraine. Poorer countries are at high risk from the war, since they have a tendency to spend a bigger fraction of their incomes on food compared to wealthier countries, this might impact huge political stability globally. From a macroeconomic perspective, higher prices for food and energy will reduce real incomes and depress global import demand. Sanctions will impose economic costs on not only Russia directly but also on its trading partners. Besides Russia and Ukraine, depressed gross domestic product (GDP) will probably be seen mostly in Europe given the region’s geographic proximity and its dependence on Russian energy. Trade costs will rise within the near term because of extraordinary sanctions, export restrictions, higher energy costs and transport disruptions furthermore. As a result, the impact of the war will wear world interchange 2022 might be greater than the impact on global GDP. While shares of Russia and Ukraine in world trade and output are relatively small, they're important suppliers of essential products, notably food and energy. Both countries accounted for 2.5 percent in world merchandise trade and 1.9 per cent in world GDP in 2021. Yet they supplied around 25 per cent of wheat, 15 per cent of barley and 45 per cent of sunflower products exports in 2019. Russia alone accounted for 9.4 percent of world trade fuels, including a 20 per cent share in fossil fuel exports. Many countries are highly obsessed on food imports from Russia and Ukraine. for instance, over 1/2 wheat imports in Egypt, the Lebanon and Tunisia come from Russia and Ukraine. Other countries are more addicted to imports of fuels from Russia, like Finland (63 percent) and Turkey (35 percent). Russia and Ukraine also are key providers of inputs into industrial value chains. Russia is one in all the most suppliers globally of palladium and rhodium, key inputs within the production of catalytic converters within the automotive sector and therefore the manufacture of semiconductors. Semiconductor production also depends to a considerable extent on neon supplied by Ukraine, which further provides variety of low-tech products to the ecu automobile value chain, like wire harnesses. Prolonged disruptions within the supply of those goods could harm the recovery of automobile manufacturing. Sanctions are already having a robust impact on Russia’s economy, with possible medium to long-term consequences. Disconnecting Russian banks from the SWIFT settlement system and blocking Russia’s use of interchange reserves have triggered a pointy depreciation of the ruble, reducing real incomes within the country. Most of the massive international firms also are abandoning the Russian market. Oil and gas exports have yet to be strongly full of the sanctions, but the crisis could accelerate the worldwide transition towards greener energy sources. Longstanding economic relationships are disrupted by the war and by the sanctions imposed in its wake. Eminent economists have simulated various scenarios parenthetically the channels through which trade may well be affected and to explore possible short-run and long-run effects. Global trade growth is projected to slow by up to 2.2 percentage points in 2022. long term impacts could even be large and consequential. there's a risk that trade could become more fragmented in terms of blocs supported geopolitics. whether or not no formal blocs emerge, private actors might prefer to minimize risk by reorienting supply chains. this might reduce global GDP within the long term by about 5 percent, notably by restricting competition and stifling innovation (WTO, 2022). The Global Economy has a crucial role to play in mitigating the negative effects of the crisis and in rebuilding a post-war global economy. Keeping markets open are critical to confirm that economic opportunities remain receptive all countries. this can be very true within the post-war period, when businesses and families will have to repair their balance sheets and rebuild their lives. Through its importance for international trade and its monitoring, convening and other functions, the WTO is central to making sure that international trade continues to serve billions of individuals across the globe. during this paper we are giving an empirical analysis of world trade and development impacted by the present Russian-Ukraine war.