Advanced vs emerging market: a degree of contribution to global economic growth (2014-2024)

Purpose- The purpose of this study is to examine and compare the contributions of advanced economies and emerging market and developing economies (EMDEs) to global nominal GDP from 2014 to 2024. Specifically, it analyzes decade-long growth patterns, structural economic shifts, and regional dynamics in order to assess the evolving distribution of global economic power and its implications for international policy and economic governance. Methodology- This study employs a quantitative research design based on secondary data collected from the IMF, World Bank, and UNCTAD. Descriptive statistics, comparative analysis, and graphical visualization techniques are applied to evaluate GDP contributions and trends, while countries are classified into advanced and emerging categories in line with IMF criteria. Findings- The findings reveal that although advanced economies still account for just over half of global nominal GDP, emerging markets have been steadily narrowing the gap. The United States and China together contribute 43% of global GDP, underscoring their systemic importance. Asia has emerged as the primary growth hub, combining the strength of both advanced and emerging economies, while Latin America, Africa, and parts of the Middle East continue to lag despite their demographic potential. Conclusion- The study concludes that the global economic landscape is becoming increasingly multipolar, with emerging economies gaining greater influence alongside advanced economies. This transformation highlights the need for inclusive global policy frameworks, stronger institutional cooperation, and sustainable development strategies to promote balanced and equitable growth across regions.