This is equivalent to 11.2 per cent of the world’s GDP or $1,853 per person.
In 2018, the economic impact of violence improved for the first time since 2012, decreasing by 3.3 per cent or $475 billion.
The average country score improved by -0.09 per cent, with 86 countries improving and 76 recording deteriorations.
Iceland remains the most peaceful country in the world, a position it has held since 2008.
Despite the improvement this year, the world remains considerably less peaceful now than a decade ago, with the average level of peacefulness deteriorating by 3.78 per cent since 2008.
Global peacefulness has only improved for three of the last ten years.
An estimated 971 million people live in areas with high or very high exposure to climate hazards, putting them at risk for both extreme weather events and breakdowns in peacefulness in the coming decades.
Of this number, 41 per cent reside in countries with low levels of peacefulness, while 22 per cent are in countries with high levels of peace.
This improvement was mainly due to lower levels of armed conflict in Syria, Colombia and Ukraine.
This also resulted in a positive knock-on effect for refugees and internally displaced persons and terrorism, with reductions in the costs for both.