It is rare to see a national economy shrink by 75% without an active war.
Venezuela did it in just 10 years.
From 2012 to 2021, oil production collapsed, inflation hit 130,000%, and $300B in GDP evaporated.
Here is the visualization of the crash. 📉
This video concludes my 3-part series on the "Global Economy Flip" (Guyana 🚀, G7 vs E7 🔄, Venezuela 📉).
I have compiled the full analysis and the cleaned datasets for all three trends into one report.
Read the full story and download the data here
vizzingdata.com/global-econo…
To put this scale into perspective:
During the U.S. Great Depression (the worst economic disaster in modern history), the economy contracted by roughly 30%.
The Venezuelan collapse was more than double that severity.
It is a statistical anomaly in modern records.
The "West" is no longer the biggest economic bloc.
Data from the IMF shows the "Emerging 7" (China, India, etc.) overtook the G7 in purchasing power back in 2011.
We are living in a new world order, we just haven't updated our maps yet.
Stop looking at China. You are looking at the wrong map. 🗺️
While the West fights for 2% growth, one tiny nation just hit 40% in a single year.
It is the economic equivalent of winning the lottery.
To put 40% growth in perspective:
🇺🇸 USA: ~2.5%
🇨🇳 China: ~5%
🇮🇳 India: ~7%
Guyana is growing 5x faster than the fastest major economy. But history tells us this speed is dangerous. "Dutch Disease" is a real risk.
The Hidden Giant 🇬🇾
This is Guyana. Population: ~800k.
In 2015, massive offshore oil reserves were discovered. Since then, their GDP has gone vertical.
I analyzed 30 years of World Bank data to visualize this anomaly. Look at the spike:
2020 had been a great year for vizzingdata. Our users came from all across the globe and the website had 100 users per day. Thanks to all of you out there for this.
Well 2020 was great and 2021 will be awesome , we have onboarded writers and now #DataFam@tableau@tableaupublic
Coronavirus updates:
- Iran: 966 new cases, 123 new deaths
- Belgium: 558 new cases, 30 new deaths
- Austria: 278 new cases
- Israel: 178 new cases
- Malaysia: 153 new cases, 1 new death
- Thailand: 89 new cases
- Philippines: 77 new cases
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