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Nominal GDP

A map of world economies by size of GDP (nominal) in USD, World Bank, 2014[1]

Gross domestic product (GDP) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) of time. Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons. Nominal GDP per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations.

Definition

The OECD defines GDP as "an aggregate measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs).”[2] An IMF publication states that "GDP measures the monetary value of final goods and services - that is, those that are bought by the final user - produced in a country in a given period of time (say a quarter or a year)."[3]

Total GDP can also be broken down into the contribution of each industry or sector of the economy.[4] The ratio of GDP to the total population of the region is the per capita GDP and the same is called Mean Standard of Living. GDP is considered the "world's most powerful statistical indicator of national development and progress"[5] .

History

William Petty came up with a basic concept of GDP to defend landlords against unfair taxation during warfare between the Dutch and the English between 1652 and 1674.[6] Charles Davenant developed the method further in 1695.[7] The modern concept of GDP was first developed by Simon Kuznets for a US Congress report in 1934.[8] In this report, Kuznets warned against its use as a measure of welfare[1] (see below under limitations and criticisms). After the Bretton Woods conference in 1944, GDP became the main tool for measuring a country's economy.[9] At that time gross national product (GNP) was the preferred estimate, which differed from GDP in that it measured production by a country's citizens at home and abroad rather than its 'resident institutional units' (see OECD definition above). The switch from "GNP" to "GDP" in the US was in 1991, trailing behind most other nations. Crucial to the development of GDP was its role in the wartime effort.[10] A crucial role was played here by the US Department of Commerce under Milton Gilbert where ideas from Kuznets were embedded into governmental institutions.

The history of the concept of GDP should be distinguished from the history of changes in ways of estimating it. The value added by firms is relatively easy to calculate from their accounts, but the value added by the public sector, by financial industries, and by intangible asset creation is more complex. These activities are increasingly important in developed economies, and the international conventions governing their estimation and their inclusion or exclusion in GDP regularly change in an attempt to keep up with industrial advances. In the words of one academic economist "The actual number for GDP is therefore the product of a vast patchwork of statistics and a complicated set of processes carried out on the raw data to fit them to the conceptual framework."[11]

Determining gross domestic product (GDP)

GDP can be determined in three ways, all of which should, in principle, give the same result. They are the production (or output or value added) approach, the income approach, or the expenditure approach.

The most direct of the three is the production approach, which sums the outputs of every class of enterprise to arrive at the total. The expenditure approach works on the principle that all of the product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying things. The income approach works on the principle that the incomes of the productive factors ("producers," colloquially) must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.[12]

Production approach

This approach mirrors the OECD definition given above.

  1. Estimate the gross value of domestic output out of the many various economic activities;
  2. Determine the [intermediate consumption], i.e., the cost of material, supplies and services used to produce final goods or services.
  3. Deduct intermediate consumption from gross value to obtain the gross value added.

Gross value added = gross value of output – value of intermediate consumption.

Value of output = value of the total sales of goods and services plus value of changes in the inventory.

The sum of the gross value added in the various economic activities is known as "GDP at factor cost".

GDP at factor cost plus indirect taxes less subsidies on products = "GDP at producer price".

For measuring output of domestic product, economic activities (i.e. industries) are classified into various sectors. After classifying economic activities, the output of each sector is calculated by any of the following two methods:

  1. By multiplying the output of each sector by their respective market price and adding them together
  2. By collecting data on gross sales and inventories from the records of companies and adding them together

The gross value of all sectors is then added to get the gross value added (GVA) at factor cost. Subtracting each sector's intermediate consumption from gross output gives the GVA at factor cost. Adding indirect tax minus subsidies in GVA at factor cost gives the "GVA at producer prices".

Income approach
List of countries by GDP (PPP) per capita by 2014 International Monetary Fund.
Countries by 2015 GDP (nominal) per capita.[13]
  > $64,000
  $32,000 – 64,000
  $16,000 – 32,000
  $8,000 – 16,000
  $4,000 – 8,000
  $2,000 – 4,000
  $1,000 – 2,000
  $500 – 1,000
   $500
  unavailable
U.S GDP computed on the income basis

The second way of estimating GDP is to use "the sum of primary incomes distributed by resident producer units".[2]

If GDP is calculated this way it is sometimes called gross domestic income (GDI), or GDP (I). GDI should provide the same amount as the expenditure method described later. (By definition, GDI = GDP. In practice, however, measurement errors will make the two figures slightly off when reported by national statistical agencies.)

This method measures GDP by adding incomes that firms pay households for factors of production they hire - wages for labour, interest for capital, rent for land and profits for entrepreneurship.

The US "National Income and Expenditure Accounts" divide incomes into five categories:

  1. Wages, salaries, and supplementary labour income
  2. Corporate profits
  3. Interest and miscellaneous investment income
  4. Farmers' incomes
  5. Income from non-farm unincorporated businesses

These five income components sum to net domestic income at factor cost.

Two adjustments must be made to get GDP:

  1. Indirect taxes minus subsidies are added to get from factor cost to market prices.
  2. Depreciation (or capital consumption allowance) is added to get from net domestic product to gross domestic product.

Total income can be subdivided according to various schemes, leading to various formulae for GDP measured by the income approach. A common one is:

GDP = COE + GOS + GMI + TS
  • Compensation of employees (COE) measures the total remuneration to employees for work done. It includes wages and salaries, as well as employer contributions to social security and other such programs.
  • Gross operating surplus (GOS) is the surplus due to owners of incorporated businesses. Often called profits, although only a subset of total costs are subtracted from gross output to calculate GOS.
  • Gross mixed income (GMI) is the same measure as GOS, but for unincorporated businesses. This often includes most small businesses.

The sum of COE, GOS and GMI is called total factor income; it is the income of all of the factors of production in society. It measures the value of GDP at factor (basic) prices. The difference between basic prices and final prices (those used in the expenditure calculation) is the total taxes and subsidies that the government has levied or paid on that production. So adding taxes less subsidies on production and imports converts GDP at factor cost to GDP(I).

Total factor income is also sometimes expressed as:

Expenditure approach

The third way to estimate GDP is to calculate the sum of the final uses of goods and services (all uses except intermediate consumption) measured in purchasers' prices.[2]

Market goods which are produced are purchased by someone. In the case where a good is produced and unsold, the standard accounting convention is that the producer has bought the good from themselves. Therefore, measuring the total expenditure used to buy things is a way of measuring production. This is known as the expenditure method of calculating GDP.

Components of GDP by expenditure
U.S. GDP computed on the expenditure basis.

GDP (Y) is the sum of consumption (C), investment (I), government spending (G) and net exports (X – M).

Here is a description of each GDP component:

  • C (consumption) is normally the largest GDP component in the economy, consisting of private expenditures in the economy (household final consumption expenditure). These personal expenditures fall under one of the following categories: durable goods, nondurable goods, and services. Examples include food, rent, jewelry, gasoline, and medical expenses, but not the purchase of new housing.
  • I (investment) includes, for instance, business investment in equipment, but does not include exchanges of existing assets. Examples include construction of a new mine, purchase of software, or purchase of machinery and equipment for a factory. Spending by households (not government) on new houses is also included in investment. In contrast to its colloquial meaning, "investment" in GDP does not mean purchases of financial products. Buying financial products is classed as 'saving', as opposed to investment. This avoids double-counting: if one buys shares in a company, and the company uses the money received to buy plant, equipment, etc., the amount will be counted toward GDP when the company spends the money on those things; to also count it when one gives it to the company would be to count two times an amount that only corresponds to one group of products. Buying bonds or stocks is a swapping of deeds, a transfer of claims on future production, not directly an expenditure on products.
  • G (government spending) is the sum of government expenditures on final goods and services. It includes salaries of public servants, purchases of weapons for the military and any investment expenditure by a government. It does not include any transfer payments, such as social security or unemployment benefits.
  • X (exports) represents gross exports. GDP captures the amount a country produces, including goods and services produced for other nations' consumption, therefore exports are added.
  • M (imports) represents gross imports. Imports are subtracted since imported goods will be included in the terms G, I, or C, and must be deducted to avoid counting foreign supply as domestic.

Note that C, G, and I are expenditures on final goods and services; expenditures on intermediate goods and services do not count. (Intermediate goods and services are those used by businesses to produce other goods and services within the accounting year.[15] )

According to the U.S. Bureau of Economic Analysis, which is responsible for calculating the national accounts in the United States, "In general, the source data for the expenditures components are considered more reliable than those for the income components [see income method, below]."[16]

GDP vs GNI

GDP can be contrasted with gross national product (GNP) or, as it is now known, gross national income (GNI). The difference is that GDP defines its scope according to location, while GNI defines its scope according to ownership. In a global context, world GDP and world GNI are, therefore, equivalent terms.

GDP is product produced within a country's borders; GNI is product produced by enterprises owned by a country's citizens. The two would be the same if all of the productive enterprises in a country were owned by its own citizens, and those citizens did not own productive enterprises in any other countries. In practice, however, foreign ownership makes GDP and GNI non-identical. Production within a country's borders, but by an enterprise owned by somebody outside the country, counts as part of its GDP but not its GNI; on the other hand, production by an enterprise located outside the country, but owned by one of its citizens, counts as part of its GNI but not its GDP.

For example, the GNI of the USA is the value of output produced by American-owned firms, regardless of where the firms are located. Similarly, if a country becomes increasingly in debt, and spends large amounts of income servicing this debt this will be reflected in a decreased GNI but not a decreased GDP. Similarly, if a country sells off its resources to entities outside their country this will also be reflected over time in decreased GNI, but not decreased GDP. This would make the use of GDP more attractive for politicians in countries with increasing national debt and decreasing assets.

Gross national income (GNI) equals GDP plus income receipts from the rest of the world minus income payments to the rest of the world.[17]

In 1991, the United States switched from using GNP to using GDP as its primary measure of production.[18] The relationship between United States GDP and GNP is shown in table 1.7.5 of the National Income and Product Accounts.[19]

International standards

The international standard for measuring GDP is contained in the book System of National Accounts (1993), which was prepared by representatives of the International Monetary Fund, European Union, Organization for Economic Co-operation and Development, United Nations and World Bank. The publication is normally referred to as SNA93 to distinguish it from the previous edition published in 1968 (called SNA68) [20]

SNA93 provides a set of rules and procedures for the measurement of national accounts. The standards are designed to be flexible, to allow for differences in local statistical needs and conditions.

National measurement

Within each country GDP is normally measured by a national government statistical agency, as private sector organizations normally do not have access to the information required (especially information on expenditure and production by governments).

Nominal GDP and adjustments to GDP

The raw GDP figure as given by the equations above is called the nominal, historical, or current, GDP. When one compares GDP figures from one year to another, it is desirable to compensate for changes in the value of money – i.e., for the effects of inflation or deflation. To make it more meaningful for year-to-year comparisons, it may be multiplied by the ratio between the value of money in the year the GDP was measured and the value of money in a base year.

For example, suppose a country's GDP in 1990 was $100 million and its GDP in 2000 was $300 million. Suppose also that inflation had halved the value of its currency over that period. To meaningfully compare its GDP in 2000 to its GDP in 1990, we could multiply the GDP in 2000 by one-half, to make it relative to 1990 as a base year. The result would be that the GDP in 2000 equals $300 million × one-half = $150 million, in 1990 monetary terms. We would see that the country's GDP had realistically increased 50 percent over that period, not 200 percent, as it might appear from the raw GDP data. The GDP adjusted for changes in money value in this way is called the real, or constant, GDP.

The factor used to convert GDP from current to constant values in this way is called the GDP deflator. Unlike consumer price index, which measures inflation or deflation in the price of household consumer goods, the GDP deflator measures changes in the prices of all domestically produced goods and services in an economy including investment goods and government services, as well as household consumption goods.[21]

Constant-GDP figures allow us to calculate a GDP growth rate, which indicates how much a country's production has increased (or decreased, if the growth rate is negative) compared to the previous year.

Another thing that it may be desirable to account for is population growth. If a country's GDP doubled over a certain period, but its population tripled, the increase in GDP may not mean that the standard of living increased for the country's residents; the average person in the country is producing less than they were before. Per-capita GDP is a measure to account for population growth.

Cross-border comparison and purchasing power parity

The level of GDP in different countries may be compared by converting their value in national currency according to either the current currency exchange rate, or the purchasing power parity exchange rate.

  • Current currency exchange rate is the exchange rate in the international foreign exchange market.
  • Purchasing power parity exchange rate is the exchange rate based on the purchasing power parity (PPP) of a currency relative to a selected standard (usually the United States dollar). This is a comparative (and theoretical) exchange rate, the only way to directly realize this rate is to sell an entire CPI basket in one country, convert the cash at the currency market rate & then rebuy that same basket of goods in the other country (with the converted cash). Going from country to country, the distribution of prices within the basket will vary; typically, non-tradable purchases will consume a greater proportion of the basket's total cost in the higher GDP country, per the Balassa-Samuelson effect.

The ranking of countries may differ significantly based on which method is used.

  • The current exchange rate method converts the value of goods and services using global currency exchange rates. The method can offer better indications of a country's international purchasing power. For instance, if 10% of GDP is being spent on buying hi-tech foreign arms, the number of weapons purchased is entirely governed by current exchange rates, since arms are a traded product bought on the international market. There is no meaningful 'local' price distinct from the international price for high technology goods. The PPP method of GDP conversion is more relevant to non-traded goods and services. In the above example if hi-tech weapons are to be produced internally their amount will be governed by GDP(PPP) rather than nominal GDP.

There is a clear pattern of the purchasing power parity method decreasing the disparity in GDP between high and low income (GDP) countries, as compared to the current exchange rate method. This finding is called the Penn effect.

For more information, see Measures of national income and output.

Standard of living and GDP: Wealth distribution and externalities

GDP per capita is often used as an indicator of living standards.[22]

The major advantage of GDP per capita as an indicator of standard of living is that it is measured frequently, widely, and consistently. It is measured frequently in that most countries provide information on GDP on a quarterly basis, allowing trends to be seen quickly. It is measured widely in that some measure of GDP is available for almost every country in the world, allowing inter-country comparisons. It is measured consistently in that the technical definition of GDP is relatively consistent among countries.

GDP does not include several factors that influence the standard of living. In particular, it fails to account for:

  • Externalities – Economic growth may entail an increase in negative externalities that are not directly measured in GDP.[23] [24] Increased industrial output might grow GDP, but any pollution is not counted.[25]
  • Non-market transactions– GDP excludes activities that are not provided through the market, such as household production, bartering of goods and services, and volunteer or unpaid services.
  • Non-monetary economy– GDP omits economies where no money comes into play at all, resulting in inaccurate or abnormally low GDP figures. For example, in countries with major business transactions occurring informally, portions of local economy are not easily registered. Bartering may be more prominent than the use of money, even extending to services.[24]
  • Quality improvements and inclusion of new products– by not fully adjusting for quality improvements and new products, GDP understates true economic growth. For instance, although computers today are less expensive and more powerful than computers from the past, GDP treats them as the same products by only accounting for the monetary value. The introduction of new products is also difficult to measure accurately and is not reflected in GDP despite the fact that it may increase the standard of living. For example, even the richest person in 1900 could not purchase standard products, such as antibiotics and cell phones, that an average consumer can buy today, since such modern conveniences did not exist then.
  • Sustainability of growth– GDP is a measurement of economic historic activity and is not necessarily a projection.
  • Wealth distribution – GDP does not account for variances in incomes of various demographic groups. See income inequality metrics for discussion of a variety of inequality-based economic measures.[24]

It can be argued that GDP per capita as an indicator standard of living is correlated with these factors, capturing them indirectly.[22] [26] As a result, GDP per capita as a standard of living is a continued usage because most people have a fairly accurate idea of what it is and know it is tough to come up with quantitative measures for such constructs as happiness, quality of life, and well-being.[22]

Limitations and criticisms
Limitations at introduction

Simon Kuznets, the economist who developed the first comprehensive set of measures of national income, stated in his first report to the US Congress in 1934, in a section titled "Uses and Abuses of National Income Measurements":[8]

The valuable capacity of the human mind to simplify a complex situation in a compact characterization becomes dangerous when not controlled in terms of definitely stated criteria. With quantitative measurements especially, the definiteness of the result suggests, often misleadingly, a precision and simplicity in the outlines of the object measured. Measurements of national income are subject to this type of illusion and resulting abuse, especially since they deal with matters that are the center of conflict of opposing social groups where the effectiveness of an argument is often contingent upon oversimplification. [...]

All these qualifications upon estimates of national income as an index of productivity are just as important when income measurements are interpreted from the point of view of economic welfare. But in the latter case additional difficulties will be suggested to anyone who wants to penetrate below the surface of total figures and market values. Economic welfare cannot be adequately measured unless the personal distribution of income is known. And no income measurement undertakes to estimate the reverse side of income, that is, the intensity and unpleasantness of effort going into the earning of income. The welfare of a nation can, therefore, scarcely be inferred from a measurement of national income as defined above.

In 1962, Kuznets stated:[27]

Distinctions must be kept in mind between quantity and quality of growth, between costs and returns, and between the short and long run. Goals for more growth should specify more growth of what and for what.

Further criticisms

Ever since the development of GDP, multiple observers have pointed out limitations of using GDP as the overarching measure of economic and social progress.

Many environmentalists argue that GDP is a poor measure of social progress because it does not take into account harm to the environment.[28] [29]

Although a high or rising level of GDP is often associated with increased economic and social progress within a country, a number of scholars have pointed out that this does not necessarily play out in many instances. For example, Jean Drèze and Amartya Sen have pointed out that an increase in GDP or in GDP growth does not necessarily lead to a higher standard of living, particularly in areas such as healthcare and education.[30] Another important area that does not necessarily improve along with GDP is political liberty, which is most notable in China, where GDP growth is strong yet political liberties are heavily restricted.[31]

GDP does not account for the distribution of income among the residents of a country, because GDP is merely an aggregate measure. An economy may be highly developed or growing rapidly, but also contain a wide gap between the rich and the poor in a society. These inequalities often occur on the lines of race, ethnicity, gender, religion, or other minority status within countries. This can lead to misleading characterizations of economic well-being if the income distribution is heavily skewed toward the high end, as the poorer residents will not directly benefit from the overall level of wealth and income generated in their country. Even GDP per capita measures may have the same downside if inequality is high. For example, South Africa during apartheid ranked high in terms of GDP per capita, but the benefits of this immense wealth and income were not shared equally among the country.

GDP does not take into account the value of household and other unpaid work. Some, including Martha Nussbaum, argue that this value should be included in measuring GDP, as household labor is largely a substitute for goods and services that would otherwise be purchased for value.[32] Even under conservative estimates, the value of unpaid labor in Australia has been calculated to be over 50% of the country's GDP.[33] A later study analyzed this value in other countries, with results ranging from a low of about 15% in Canada (using conservative estimates) to high of nearly 70% in the United Kingdom (using more liberal estimates). For the United States, the value was estimated to be between about 20% on the low end to nearly 50% on the high end, depending on the methodology being used.[34] Because many public policies are shaped by GDP calculations and by the related field of national accounts,[35] the non-inclusion of unpaid work in calculating GDP can create distortions in public policy, and some economists have advocated for changes in the way public policies are formed and implemented.[36]

The UK's Natural Capital Committee highlighted the shortcomings of GDP in its advice to the UK Government in 2013, pointing out that GDP "focuses on flows, not stocks. As a result, an economy can run down its assets yet, at the same time, record high levels of GDP growth, until a point is reached where the depleted assets act as a check on future growth". They then went on to say that "it is apparent that the recorded GDP growth rate overstates the sustainable growth rate. Broader measures of wellbeing and wealth are needed for this and there is a danger that short-term decisions based solely on what is currently measured by national accounts may prove to be costly in the long-term".

Proposals to overcome GDP limitations

In response to these and other limitations of using GDP, alternative approaches have emerged.

  • In the 1980s, Amartya Sen and Martha Nussbaum developed the capability approach, which focuses on the functional capabilities enjoyed by people within a country, rather than the aggregate wealth held within a country. These capabilities consist of the functions that a person is able to achieve.[37]
  • In 1990 Mahbub ul Haq, a Pakistani Economist at the United Nations, introduced the Human Development Index (HDI). The HDI is a composite index of life expectancy at birth, adult literacy rate and standard of living measured as a logarithmic function of GDP, adjusted to purchasing power parity.
  • In 1989, John B. Cobb and Herman Daly introduced Index of Sustainable Economic Welfare (ISEW) by taking into account various other factors such as consumption of nonrenewable resources and degradation of the environment. The new formula deducted from GDP (personal consumption + public non-defensive expenditures - private defensive expenditures + capital formation + services from domestic labour - costs of environmental degradation - depreciation of natural capital)
  • In 2005, Med Jones, an American Economist, at the International Institute of Management, introduced the first secular Gross National Happiness Index a.k.a Gross National Well-being framework and Index to complement GDP economics with additional seven dimensions, including environment, education, and government, work, social and health (mental and physical) indicators. The proposal was inspired by the King of Bhutan's GNH philosophy.[38] [39] [40]
  • In 2009 the European Union released a communication titled GDP and beyond: Measuring progress in a changing world[41] that identified five actions to improve the indicators of progress in ways that make it more responsive to the concerns of its citizens: Introduced a proposal to complementing GDP with environmental and social indicators
  • In 2009 Professors Joseph Stiglitz, Amartya Sen, and Jean-Paul Fitoussi at the Commission on the Measurement of Economic Performance and Social Progress (CMEPSP), formed by French President, Nicolas Sarkozy published a proposal to overcome the limitation of GDP economics to expand the focus to well-being economics with wellbeing framework consisting of health, environment, work, physical safety, economic safety, political freedom.
  • In 2012, the Karma Ura of the Center for Bhutan Studies published Bhutan Local GNH Index contributors to happiness—physical, mental and spiritual health; time-balance; social and community vitality; cultural vitality; education; living standards; good governance; and ecological vitality. The Bhutan GNH Index.[42]
  • In 2013 OECD Better Life Index was published by the OECD. The dimensions of the index included health, economic, workplace, income, jobs, housing, civic engagement, life satisfaction
  • In 2013 professors John Helliwell, Richard Layard and Jeffrey Sachs published World Happiness Report and proposed to measure other wellbeing indicators in addition to GDP. the evaluation framework included GDP per capita, Gini (income inequality), life satisfaction, health, freedom of life choices, trust and absence of corruption.
Lists of countries by their GDP
See also
Notes and references
  1. "GDP (Official Exchange Rate)" (PDF). World Bank. Retrieved August 24, 2015.
  2. "OECD". Retrieved 14 August 2014.
  3. Callen, Tim. "Gross Domestic Product: An Economy's All". IMF. Retrieved 3 June 2016.
  4. Dawson, Graham (2006). Economics and Economic Change. FT / Prentice Hall. p. 205. ISBN 9780273693512.
  5. Lepenies, Philipp (2016-04-26). The Power of a Single Number: A Political History of GDP. New York: Columbia University Press. ISBN 9780231175104.
  6. "Petty impressive". The Economist. Retrieved August 1, 2015.
  7. Coyle, Diane. "Warfare and the Invention of GDP". The Globalist. Retrieved August 1, 2015.
  8. Congress commissioned Kuznets to create a system that would measure the nation's productivity in order to better understand how to tackle the Great Depression.Simon Kuznets, 1934. "National Income, 1929–1932". 73rd US Congress, 2d session, Senate document no. 124, page 5-7 Simon Kuznets, 1934. "National Income, 1929–1932". 73rd US Congress, 2d session, Senate document no. 124, page 5-7 Simon Kuznets, 1934. "National Income, 1929–1932". 73rd US Congress, 2d session, Senate document no. 124, page 5-7. https://fraser.stlouisfed.org/scribd/?title_id=971&filepath=/docs/publications/natincome_1934/19340104_nationalinc.pdf
  9. Dickinson, Elizabeth. "GDP: a brief history". ForeignPolicy.com. Retrieved 25 April 2012.
  10. Lepenies, Philipp (April 2016). The Power of a Single Number: A Political History of GDP. Columbia University Press. ISBN 9780231541435.
  11. Coyle, Diane (2014). GDP: A Brief but Affectionate History. Princeton University Press. p. 6. ISBN 9780691156798.
  12. World Bank, Statistical Manual >> National Accounts >> GDP–final output, retrieved October 2009."User's guide: Background information on GDP and GDP deflator". HM Treasury."Measuring the Economy: A Primer on GDP and the National Income and Product Accounts" (PDF). Bureau of Economic Analysis.
  13. Based on the IMF data. If no data was available for a country from IMF, I used WorldBank data.
  14. United States Bureau of Economic Analysis, "A guide to the National Income and Product Accounts of the United States" (PDF)., page 5; retrieved November 2009. Another term, "business current transfer payments", may be added. Also, the document indicates that the capital consumption adjustment (CCAdj) and the inventory valuation adjustment (IVA) are applied to the proprietor's income and corporate profits terms; and CCAdj is applied to rental income.
  15. Thayer Watkins, San José State University Department of Economics, "Gross Domestic Product from the Transactions Table for an Economy", commentary to first table, " Transactions Table for an Economy". (Page retrieved November 2009.)
  16. Concepts and Methods of the United States National Income and Product Accounts, chap. 2.
  17. Lequiller, François; Derek Blades (2006). Understanding National Accounts. OECD. p. 18. ISBN 978-92-64-02566-0. To convert GDP into GNI, it is necessary to add the income received by resident units from abroad and deduct the income created by production in the country but transferred to units residing abroad.
  18. United States, Bureau of Economic Analysis, Glossary, "GDP". Retrieved November 2009.
  19. "U.S. Department of Commerce. Bureau of Economic Analysis". Bea.gov. 2009-10-21. Retrieved 2010-07-31.
  20. "National Accounts". Central Bureau of Statistics. Retrieved 2011-06-29.
  21. HM Treasury, Background information on GDP and GDP deflator Some of the complications involved in comparing national accounts from different years are explained in this World Bank document.
  22. "How Do We Measure Standard of Living?" (PDF). The Federal Reserve Bank of Boston.
  23. Mankiw, N.G.; Taylor, M.P. (2011). Economics (2nd ed., revised ed.). Andover: Cengage Learning.
  24. "Macroeconomics - GDP and Welfare". Retrieved 2015-02-21.
  25. http://www2.econ.iastate.edu/classes/econ355/choi/gdp.htm
  26. "How Real GDP per Capita Affects the Standard of Living". Study.com.
  27. Simon Kuznets. "How To Judge Quality". The New Republic, October 20, 1962
  28. The Virtues of Ignoring GDP http://www.thebrokeronline.eu/Articles/The-virtues-of-ignoring-GDP
  29. The Rise and Fall of G.D.P. https://www.nytimes.com/2010/05/16/magazine/16GDP-t.html?pagewanted=all
  30. Drèze, Jean; Sen, Amartya (2013). An uncertain glory India and its contradictions. Princeton: Princeton University Press. ISBN 9781400848775.
  31. "China Country Report Freedom in the World 2012". freedomhouse.org.
  32. Nussbaum, Martha C. (2013). Creating capabilities : the human development approach. Cambridge, Mass.: Belknap Press of Harvard University Press. ISBN 0674072359.
  33. Blades, François Lequiller, Derek (2006). Understanding national accounts (Reprint. ed.). Paris: OECD. p. 112. ISBN 978-92-64-02566-0.
  34. "Incorporating Estimates of Household Production of Non-Market Services into International Comparisons of Material Well-Being".
  35. "National Income Accounting and Public Policy" (PDF).
  36. "National Accounts: A Practical Introduction" (PDF).
  37. Shahani, Severine Deneulin ; Lila (2009). An Introduction to the Human Development and Capability : Approach (1. ed.). London: Earthscan Ltd. ISBN 9781844078066.
  38. "Gross National Happiness (GNH) - A New Socioeconomic Development Policy Framework - A Policy White Paper - The American Pursuit of Unhappiness - Med Jones, IIM". Iim-edu.org. 10 January 2005.
  39. Happiness Ministry in Dubai http://www.thenational.ae/opinion/comment/the-happiness-portfolio-is-no-laughing-matter Happiness Ministry in Dubai .
  40. "Harvard Kennedy School Report to US Congressman 21st Century GDP: National Indicators for a New Era" (PDF).
  41. "GDP and beyond: Measuring progress in a changing world". European Union. 2009. Retrieved 2012-02-26.
  42. "Bhutan GNH Index"
Further reading
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Gross domestic product

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A map of world economies by size of GDP (nominal) in USD, World Bank , 2014 Gross domestic product ( GDP ) is a monetary measure of the market value of all final goods and services produced in a period (quarterly or yearly) of time . Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons. Nominal GDP per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing differences in living standards between nations. Definition The OECD defines GDP as "an aggregate measure of production equal to the sum of the gross values added of all resident and institutional units engaged in production (plus any taxes, and minus any subsidies, on products not included in the value of their outputs).” An IMF publication states that "GDP measures the monetary value of final good ...more...



List of countries by GDP (nominal)

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Largest economies by nominal GDP in 2017 (counting the economies of the European Union as one) according to International Monetary Fund estimates. The United States, the world's largest economy, accounts for approximately 25 percent of Nominal world GDP , and the seven largest economies (amalgamating the European Union economies as one) account for 75 percent of the total. Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates . Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency . Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard o ...more...



List of countries by past and projected GDP (nominal)

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This is an alphabetical list of countries by past and projected gross domestic product (nominal) as ranked by the IMF. Figures are based on official exchange rates , not on the purchasing power parity (PPP) methodology. Values are given in millions of United States dollars (USD) and have not been adjusted for inflation. These figures have been taken from the International Monetary Fund 's World Economic Outlook (WEO) Database (April 2017 edition) and/or other sources. IMF estimates between 1980 and 1989 Nº 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 ...more...



List of countries by GDP (nominal) per capita

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The world sorted by their gross domestic product per capita at nominal values . This is the value of all final goods and services produced within a nation in a given year, converted at market exchange rates to current U.S. dollars , divided by the average population for the same year. The figures presented here do not take into account differences in the cost of living in different countries, and the results vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency . Such fluctuations change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. Therefore, these figures should be used with caution. GDP per capita is often considered an indicator of a country's standard of living ; although this is problematic because GDP per capita is not a measure of personal income . Comparisons of national income are also frequently made on the basis of purchasing power parity (PPP), ...more...



List of countries by past and projected GDP (nominal) per capita

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This is an alphabetical list of countries by past and future gross domestic product per capita , based on official exchange rates , not on the purchasing power parity (PPP) methodology. Values are given in USDs and have not been adjusted for inflation. These figures have been taken from the International Monetary Fund 's World Economic Outlook (WEO) database, October 2017 edition, World Bank , or various sources. IMF estimates between 1980 and 1989 Nº 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 ...more...



Comparison between U.S. states and countries by GDP (nominal)

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This is a comparison between US states and countries' nominal Gross Domestic Product for the Alternative Future as based on International Monetary Fund and Bureau of Economic Analysis data. Many of the states of the United States have large Gross Domestic Product (called gross state product ) which would rank highly on a list of countries world GDP. State and country data State GDPs, 2nd Quarter 2015 Rank State GDP (in millions $USD ) 1   California 2,424,033 2   Texas 1,616,801 3   New York 1,444,406 4   Florida 883,735 5   Illinois 724,835 6   Pennsylvania 677,582 7   Ohio 592,899 8   New Jersey 573,947 9   North Carolina 503,745 10   Georgia 496,180 11   Virginia 476,919 12   Massachusetts 473,606 13   Michigan 462,252 14   Washington 446,096 15   Maryland 360,969 16   Minnesota 330,782 17   Indiana 326,538 18   Colorado 316,535 19   Tennessee 307,125 20   Wisconsin 296,971 21   Arizona 295,445 22   Missouri 287,207 23   Connecticut 259,661 24   Louisiana 252,965 25   Oregon 225,661 26   Alabama 207,303 27 ...more...



Lists of countries by GDP

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List of countries by GDP (Gross domestic product) may refer to: List of countries by GDP (nominal) , a list using the current exchange rates for national currencies List of countries by GDP (nominal) per capita List of countries by GDP (PPP) , a list using the concept of purchasing power parity to derive GDP estimates List of countries by GDP (PPP) per capita List of countries by GDP (PPP) per hour worked List of countries by real GDP growth rate See also List of countries by future GDP (PPP) estimates (2011–2018) List of countries by future GDP (PPP) per capita estimates (2011–2019) List of countries by past and future GDP (nominal) (1980–2019, and 2006-2050 in five-year periods for 22 selected countries) List of countries by past and future GDP (PPP) (1980–2019) List of countries by past and future GDP (nominal) per capita (1980–2019) List of countries by past and future GDP (PPP) per capita (1980–2019) List of regions by past GDP (PPP) per capita , through to 2003 List of regions by past GDP (PPP) , throug ...more...



List of African countries by GDP (nominal)

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Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries in Africa are sorted according to data from the International Monetary Fund . The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency . Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. Some countries may have citizens that are on average wealthy. These countries/regions could appear in this list as having a small GDP. This would be because the country/region listed has a small population, and therefore small total economy; the GDP is calculated as the population times market value of the goods and services produced per person in the country. These figures should therefore be used with cau ...more...



List of ASEAN countries by GDP

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List of ASEAN countries GDP List of ASEAN countries GDP - data are according to International Monetary Fund 's October 2017 estimates. Rank Country Population in million GDP Nominal millions of USD GDP Nominal per capita USD GDP (PPP) millions of USD GDP (PPP) per capita USD —   ASEAN 644.514 2,719,844 4,219 7,907,376 12,268 1   Indonesia 261.989 1,010,937 3,858 3,242,966 12,378 2   Thailand 69.095 437,807 6,336 1,228,941 17,786 3   Philippines 106.268 321,189 3,022 874,518 8,229 4   Malaysia 32.077 309,858 9,659 926,081 28,870 5   Singapore 5.675 305,757 53,880 513,744 90,531 6   Vietnam 93.643 215,963 2,306 643,902 6,876 7   Myanmar 52.645 66,966 1,272 330,883 6,285 8   Cambodia 16.013 22,252 1,389 64,214 4,010 9   Laos 6.680 17,152 2,567 49,214 7,367 10   Brunei 0.429 11,963 27,893 32,913 76,743 List of ASEAN countries GDP, International Monetary Fund 2022 estimates Rank Country Population in millions GDP Nominal millions of USD GDP (Nominal) per capita USD GDP (PPP) millions of USD GDP (PPP) per capita US ...more...



List of continents by GDP (nominal)

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This article includes a list of continents of the world sorted by their gross domestic product (GDP) , the market value of all final goods and services from a continent in a given year. The GDP dollar estimates presented here are calculated at market or government official exchange rates . The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency . Such fluctuations may change a continents ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. Therefore, these figures should be used with caution. Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. (See List of countries by GDP (PPP) .) PPP largely removes the exchange rate problem, but ...more...



List of Indian states and union territories by GDP

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These are lists of Indian states and union territories by their nominal gross state domestic product (GSDP). GSDP is the sum of all value added by industries within each state or union territory and serves as a counterpart to the national gross domestic product (GDP). In India, the Government accounts for around 20% of the GDP , Agriculture accounts for 20%, the corporate sector accounts for 12% and the balance 48% of the GDP is sourced from small proprietorship and partnership companies, the so-called unorganized sector and households. GDP of Indian states and union territories in 2014–15    over ₹ 14 lakh crore (US$220 billion)     ₹ 10 lakh crore (US$160 billion) to ₹ 14 lakh crore (US$220 billion)     ₹ 8 lakh crore (US$130 billion) to ₹ 10 lakh crore (US$160 billion)     ₹ 6 lakh crore (US$94 billion) to ₹ 8 lakh crore (US$130 billion)     ₹ 4 lakh crore (US$63 billion) to ₹ 6 lakh crore (US$94 billion)     ₹ 2 lakh crore (US$31 billion) to ₹ 4 lakh crore (US$63 billion)     ₹ 1 lakh crore (US$16 billion ...more...



List of U.S. states and territories by GDP

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► See or edit source data . This is a list of U.S. states and territories sorted by their gross domestic product ( GDP ). The United States Bureau of Economic Analysis (BEA) defines GDP by state as "the sum of value added from all industries in the state." Data for the territories is from Worldbank.org. List List of U.S. states and territories by GDP (millions of current dollars ) Rank Rank (50 states) State or territory 2016 % of Nation — —   United States 18,511,499 100.00 1 1   California 2,622,731 14.17 2 2   Texas 1,599,283 8.64 3 3   New York 1,500,055 8.10 4 4   Florida 926,049 5.00 5 5   Illinois 796,012 4.30 6 6   Pennsylvania 719,834 3.89 7 7   Ohio 626,622 3.39 8 8   New Jersey 575,331 3.11 9 9   Georgia 531,302 2.87 10 10   North Carolina 521,621 2.82 11 11   Massachusetts 505,776 2.73 12 12   Virginia 492,932 2.66 13 13   Michigan 490,238 2.65 14 14   Washington 476,770 2.58 15 15   Maryland 382,437 2.07 16 16   Indiana 347,249 1.88 17 17   Minnesota 339,096 1.83 18 18   Tennessee 331,868 1.79 1 ...more...



List of countries by GDP sector composition

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This is a list of countries by gross domestic product (GDP) sector composition . Methodology The figures are based on nominal GDP and GDP (PPP) estimates and sector composition ratios provided by the CIA World Factbook at market or government official exchange rates with figures in trillions of United States dollars . Agricultural (or primary) sector Agriculture (a term which encompasses farming ) is the process of producing food, feed , fiber and other goods by the systematic raising of plants and animals. Agricultural output is a component of the GDP of a nation. Industrial (or secondary) sector Industry is the segment of economy concerned with production of goods (including fuels and fertilisers ). Industrial output is a component of the GDP of a nation. It includes mining and extraction sectors. Service (or tertiary) sector A service is the non-material equivalent of a good . Service provision is defined as an economic activity that does not result in ownership , and this is what differentiates it from pr ...more...



List of sovereign states in Europe by GDP (nominal) per capita

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This is a list and map of European states by GDP per capita . Map of sovereign states in Europe by 2016 GDP nominal per capita based on USD exchange rate The map data is for year 2016 using IMF data (WEO April 2017 Edition) GDP nominal per capita - current international dollar 103 198 70 391 79 242 51 164 53 743 45 282 44 498 62 562 43 169 59 629 41 283 41 902 38 127 40 095 30 507 26 608 23 351 21 320 25 214 17 900 19 831 18 286 17 632 16 498 14 890 14 060 8 928 12 315 12 095 12 778 10 742 9 465 5 142 7 368 5 262 4 308 4 203 2 194 1 900 6 628 7 452 3 510 3 842 3 956 5 376 Arctic Ocean Barents Sea Bay of Biscay Black Sea Azov Sea Caspian Sea Celtic Sea Greenland Sea Baffin Bay Gulf of Cadiz Ligurian Sea Mediterranean Sea North Atlantic Ocean North Sea Norwegian Sea Strait of Gibraltar List of sovereign states in Europe by GDP (nominal) per capita 2016 The "IMF" column includes data for the year 2016 for members of the International Monetary Fund The "World Bank" column includes data for the year 2016 from the ...more...



Comparison between U.S. states and countries by GDP (nominal) per capita

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This is a comparison between U.S. states and countries' per capita nominal gross domestic product . The U.S. is not counted as a whole in the overall rank because this would be double counting since the states of the U.S. are being compared to other countries. These figures are calculated using exchange rate conversions, and exchange rates fluctuate from year to year. 2013–2017 Per capita GDP figures for countries and foreign dependencies are taken primarily from the United Nations and the World Bank; U.S. state and U.S. territory figures are from various sources. Figures are taken from dates ranging from the years 2013 to 2017. U.S. state or U.S. territory Continent or geographical region Country or foreign dependency 2013–2017 list Overall rank Rank by U.S. state and territory Country/U.S. state and territory GDP per capita (USD) 1 — Lichtenstein 169,492 2 — Monaco 165,871 3 1 Washington, D.C. 160,472 4 — Luxembourg 100,161 5 — Bermuda 94,400 6 — Switzerland 78,813 7 — Macau 73,187 8 — Norway 70,813 10 2 Ma ...more...



List of U.S. states by GDP per capita

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This is a list of U.S. states sorted by their gross domestic product (GDP) per capita . The United States Bureau of Economic Analysis (BEA) defines GDP by state as "the sum of value added from all industries in the state." Lists Real GDP per capita 2015 U.S. states by GDP per capita (chained 2009 dollars) Rank State 2016 2015 2014 2013 2012 2011 2010 2009 —   District of Columbia 160,472 159,227 159,395 159,497 163,274 166,870 168,030 166,178 1   Massachusetts 65,545 64,507 62,510 61,882 62,456 61,769 60,808 59,178 2   New York 64,579 64,092 63,420 62,444 62,841 61,185 61,267 59,481 3   Connecticut 64,511 63,747 62,236 62,550 63,502 63,638 64,906 65,574 4   Alaska 63,971 67,705 67,411 69,700 73,478 70,573 69,564 72,204 5   Delaware 63,664 64,040 63,271 60,719 62,174 63,793 62,837 64,313 6    North Dakota 62,837 67,305 71,056 67,651 68,105 57,066 52,185 48,858 7   Wyoming 58,821 60,908 61,417 60,770 60,777 63,985 64,603 66,320 8   California 58,619 57,328 55,374 53,855 52,974 52,099 51,871 51,733 9   New Jerse ...more...



List of countries by GDP (PPP)

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Largest economies by PPP GDP in 2018. According to International Monetary Fund estimates. This article includes a list of countries by their forecasted estimated gross domestic product based on purchasing power parity , abbreviated GDP (PPP) . Countries are sorted by GDP PPP forecast estimates from financial and statistical institutions in the limited period January–April 2017, which are calculated at market or government official exchange rates . The data given on this page are based on the international dollar , a standardized unit used by economists. GDP comparisons using PPP are arguably more useful than those using nominal GDP (see List of countries by GDP (nominal) ) when assessing a nation's domestic market because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates which may distort the real differences in per capita income. It is however limited when measuring financial flows between countries. ...more...



List of Oceanian countries by GDP (nominal)

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Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries in Oceania are sorted by nominal GDP estimates based on 2013 data from The World Factbook by the Central Intelligence Agency . The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency . Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. Therefore, these figures should be used with caution. Some countries/regions may have citizens which ar e on average wealthy. These countries/regions could appear in this list as having a small GDP. This would be because the country/region listed has a small population, and therefore small total economy; the GDP is calculated as the population times market v ...more...



List of countries by GDP (PPP) per capita

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Three lists of countries below calculate gross domestic product ( at purchasing power parity ) per capita , i.e., the purchasing power parity (PPP) value of all final goods and services produced within a country in a given year, divided by the average (or mid-year) population for the same year. As of 2015, the average GDP per capita (PPP) of all of the countries of the world is USD $15,800. Methodology The gross domestic product (GDP) per capita figures on this page are derived from PPP calculations. Such calculations are prepared by various organizations, including the International Monetary Fund and the World Bank . As estimates and assumptions have to be made, the results produced by different organizations for the same country are not hard facts and tend to differ, sometimes substantially, so they should be used with caution. Comparisons of national wealth are frequently made on the basis of nominal GDP and savings (not just income), which do not reflect differences in the cost of living in different coun ...more...



List of sovereign states in Europe by GDP (nominal)

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This is a sortable list of all European countries by their gross domestic product in € at market or official government exchange rates (nominal GDP). Data produced by the International Monetary Fund for the year 2016.      Eurozone Countries      Other EU Countries      Non-EU Countries 12 n/d 385 46 465 16 50 50 193 303 Faroe Islands (Dk.) 28 237 2,488 3,495 194 117 19 255 1,852 8 28 n/d 43 60 10 10 6 n/d 4 770 367 474 205 187 1,268 2 37 90 44 1,252 513 652 87 2,630 n/d 20 Adriatic Sea Arctic Ocean Barents Sea Bay of Biscay Black Sea Azov Sea Caspian Sea Celtic Sea Greenland Sea Baffin Bay Gulf of Cadiz Ligurian Sea Mediterranean Sea North Atlantic Ocean North Sea Norwegian Sea Strait of Gibraltar       List of nominal GDP for European countries (in billion USD) 2016 Rank Country  2010  2011  2012  2013  2014  2015  2016 1   Germany 3,423.466 3,761.142 3,545.946 3,753.687 3,885.440 3,365.293 3,494.898 2   United Kingdom 2,431.169 2,611.108 2,655.458 2,721.489 2,945.394 2,858.482 2,649.893 3   France 2,651.77 ...more...



List of countries by past and projected GDP (PPP)

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This is an alphabetical list of countries by past and projected Gross Domestic Product , based on the Purchasing Power Parity (PPP) methodology, not on official exchange rates. Values are given in USDs. These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database, April 2017 Edition. The figures are given or expressed in millions of international dollars . Top ten economies by GDP PPP in 2060. Estimates by PwC . IMF estimates between 1980 and 1989 Nº 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 ...more...



List of countries in Asia-Pacific by GDP (nominal)

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List of countries in Asia-Pacific by GDP (nominal), International Monetary Fund (Estimates for 2016). Rank Country GDP (billions of USD) —   World 75,212,696 1   China (PRC) 11,391,619 2   Japan 4,730,300 3   India 2,090,706 4   South Korea 1,321,200 5   Australia 1,223,887 6   Indonesia 936,955 7   Republic of China (Taiwan) 508,849 8   Thailand 390,592 9   Hong Kong 322,429 10   Philippines 311,687 11   Malaysia 302,748 12   Singapore 296,642 13   Vietnam 201,361 14   New Zealand 169,922 15   Myanmar 74,012 16   Laos 13,359 17   Mongolia 11,652 18   Brunei 9,097 19   Fiji 4,964 20   East Timor 2,100 21   Solomon Islands 1,202 22   Samoa 865 23   Tonga 414 See also Far East, pacific islands List of Asian countries by GDP (nominal) List of Asian countries by GDP (PPP) List of Arab League countries by GDP (nominal) List of countries in Asia-Pacific by GDP (nominal), International Monetary Fund (Estimates for 2016). Rank Country GDP (billions of USD) —   World 75,212,696 1   China (PRC) 11,391,619 2   Japan 4,7 ...more...



List of Arab League countries by GDP (nominal)

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market or government official exchange rates . List of Arab League countries by total GDP (nominal) The table below includes recent GDP data for all 22 members of the Arab League. Figures are from the World Bank and are in current Geary–Khamis dollars , more commonly known as international dollars (Int$) . Rank Country GDP in billions (Int$) - World 77,868.7 -   Arab League 2,872.0 01*   Saudi Arabia 618 02*   Egypt 330 03*   United Arab Emirates 326.5 04*   Qatar 170.2 05*   Algeria 165.1 06*   Iraq 127 07*   Kuwait 106.8 08*   Morocco 104.9 09*   Oman 84.3 10*   Libya 74.2 11*   Sudan 66.5 12*   Tunisia 46.9 13*   Lebanon 44.3 14*   Syria 40.4 (2011) 15*   Yemen 35.9 16*   Jordan 33.6 17*   Bahrain 32.8 18   Palestine 11.2 19   Mauritania 4.1 20   Somalia 2.5 21   Djibouti 1.4 22   Comoros 0.6 List of Arab League countries by GDP (PPP) per capita The table below includes recent GDP per capita data for all 22 member nations of the Arab League. Figures are from the World Bank and are in current Geary–Khamis d ...more...



Historical GDP of China

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This article includes a list of China's historical gross domestic product (GDP) values , the market value of all final goods and services produced by a nation in a given year. The GDP dollar estimates presented here are either calculated at market or government official exchange rates (nominal), or derived from purchasing power parity (PPP) calculations. This article also includes historical GDP growth . Chart showing GDP development trends of China and India (1950-2002). In 1985, the State Council of China ( SCC ) approved the establishment of a SNA (System of National Accounting), using GDP to measure the national economy. China started to study and then implement a new system of national economic accounting. In 1986, as the first citizen of the People's Republic of China to receive a Ph.D. in economics from an overseas country, Dr. Fengbo Zhang headed Chinese Macroeconomic Research - the key research project of the seventh five-year plan , as well as completing and publishing the Chinese GDP data according ...more...



GDP deflator

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In economics , the GDP deflator ( implicit price deflator ) is a measure of the level of prices of all new, domestically produced, final goods and services in an economy. GDP stands for gross domestic product , the total value of all final goods and services produced within that economy during a specified period. Like the consumer price index (CPI), the GDP deflator is a measure of price inflation/deflation with respect to a specific base year; the GDP deflator of the base year itself is equal to 100. Unlike the CPI, the GDP deflator is not based on a fixed basket of goods and services; the "basket" for the GDP deflator is allowed to change from year to year with people's consumption and investment patterns. Calculation Measurement in national accounts In most systems of national accounts the GDP deflator measures the ratio of nominal (or current-price) GDP to the real (or chain volume) measure of GDP. The formula used to calculate the deflator is: The nominal GDP of a given year is computed using that year's ...more...



List of IMF ranked countries by GDP

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This is an alphabetical list of countries by GDP published by IMF . This list includes GDP (nominal), GDP (nominal) per capita, GDP (PPP), GDP (PPP) per capita, Population, and PPP . 2015 2015 GDP published by IMF in October 2016 Hong Kong and Macao are excluded because they are part of China. Kosovo and Syria are excluded because their data in 2015 are not available. No. (rank) 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 143 144 145 146 147 148 149 150 151 152 153 154 155 156 157 158 159 160 161 162 163 164 165 166 167 168 169 170 171 172 173 174 175 176 177 178 179 180 181 182 183 184 185 186 187 Co ...more...



Real versus nominal value (economics)

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In economics , a real value of a good or other entity has been adjusted for inflation , enabling comparison of quantities as if prices had not changed. Changes in real terms therefore exclude the effect of inflation. In contrast with a real value, a nominal value has not been adjusted for inflation, and so changes in nominal value reflect at least in part the effect of inflation. Prices and inflation A representative collection of goods , or commodity bundle , is used for comparison purposes, to measure inflation. The nominal (unadjusted) value of the commodity bundle in a given year depends on prices current at the time, whereas the real value of the commodity bundle, if it is truly representative, remains the same. The real values of individual goods or commodities may rise or fall against each other, in relative terms, but a representative commodity bundle as a whole retains its real value as a constant over time. A price index is calculated relative to a base year. Indices are typically normalized at 100 ...more...



Lists of countries by GDP per capita

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There are two articles listing countries according to their per capita GDP: List of countries by GDP (nominal) per capita – GDP at market or government official exchange rates per inhabitant List of countries by GDP (PPP) per capita – GDP calculated at purchasing power parity (PPP) exchange rates per inhabitant See also Gross domestic product List of countries by income equality Category:Economics lists There are two articles listing countries according to their per capita GDP: List of countries by GDP (nominal) per capita – GDP at market or government official exchange rates per inhabitant List of countries by GDP (PPP) per capita – GDP calculated at purchasing power parity (PPP) exchange rates per inhabitant See also Gross domestic product List of countries by income equality Category:Economics lists ...more...



List of African countries by GDP (PPP)

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This is a list of the African nations ranked by Gross Domestic Product (GDP) at Purchasing Power Parity (PPP). Figures are given in International Dollars according to the International Monetary Fund List Region Rank Country 2015 GDP (PPP) millions of International dollars — Africa 5,736,700 1   Nigeria 1,192.00 2   Egypt 995.97 3   South Africa 724.01 4   Algeria 570.64 5   Morocco 274.53 6   Angola 185.25 7   Sudan 167.42 8   Ethiopia 159.22 9   Tanzania 150.4 10   Kenya 143.05 11   Tunisia 127.21 12   Ghana 113.35 13   Libya 92.88 14   Uganda 79.75 15   Ivory Coast 78.34 16   Cameroon 72.11 17   Zambia 64.65 18   Democratic Republic of the Congo 63.27 19   Botswana 37.16 20   Senegal 36.30 21   Madagascar 35.56 22   Gabon 34.41 23   Chad 33.73 24   Mozambique 32.00 25   Burkina Faso 31.18 26   Mali 29.15 27   Zimbabwe 28.90 28   Republic of the Congo 27.92 29   Equatorial Guinea 25.94 30   Mauritius 24.84 31   Namibia 24.51 32   Benin 21.16 33   Malawi 20.56 34   Rwanda 20.32 35   Niger 18.96 36   Mauritani ...more...



List of Chinese administrative divisions by GDP

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The article lists China's province-level divisions by gross domestic product (GDP). Each province's GDP is listed in both the national currency renminbi (CN¥), and at nominal US dollar values according to annual average exchange rates and according to purchasing power parity (PPP). Historical figures and rankings, including purchasing power parity (PPP) figures, are also given for main years since 1978. Figures for Hong Kong and Macau , which are special administrative regions of the PRC but do not use the same currency, are listed after the main list for comparative purposes. All the CN¥ figures are from the National Bureau of Statistics of China . Annual PPP rates are taken from the International Monetary Fund 's World Economic Outlook databases. 2016 List of Chinese provinces by 2016 GDP average rate: CN¥ 6.6423 per US dollar ; CN¥ 3.5061 per Int'l. dollar based on PPP (IMF WEO Data Oct. 2017) ( in billions of GDP; PPP : abbreviation of purchasing power parity) Provinces Rank GDP (CN¥) Nominal GDP (US$) ...more...



List of Chinese administrative divisions by GDP per capita

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The article lists China 's first-level administrative divisions by their gross domestic product per capita in main years. All figures are given in the national currency, renminbi (CNY), and at nominal values according to recent exchange rates as well as according to purchasing power parity (PPP). The average CNY exchange rate used here is from the National Bureau of Statistics of China , and CNY PPP exchange rates are estimated according to the International Monetary Fund (IMF). For comparison purposes, this article also displays the GDPs of the special administrative regions of Hong Kong and Macau , which maintain separate economic systems and currencies. These figures are shown in USD based on PPP, as estimated by the International Monetary Fund. 2016 data Chinese administrative divisions by nominal GDP per capita in 2014. Chinese provinces as European countries with similar GDP PPP per capita 2016 GDP per capita (based on mid-year population) PPP: abbreviation of purchasing power parity ; Nominal: CNY 6.64 ...more...



Gross world product

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The gross world product ( GWP ) is the combined gross national product of all the countries in the world . Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product (GDP). In 2014, according to the CIA 's World Factbook , the GWP totalled approximately US$107.5 trillion in terms of purchasing power parity (PPP), and around US$78.28 trillion in nominal terms. The per capita PPP GWP in 2014 was approximately US$16,100 according to the World Factbook. According to the World Bank , the 2013 nominal GWP was approximately US$75.59 trillion. Recent growth The table below gives regional percentage values for overall GWP growth from 2006 through 2016, as well as an estimate for 2017 and 2018, according to the International Monetary Fund (IMF)'s World Economic Outlook database. Data is given in terms of constant year-on-year prices. Gross world product growth rate by region (%) Region 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2 ...more...



List of country subdivisions by GDP over 100 billion US dollars

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This is a list of first-level country subdivisions which have a nominal gross state product in excess of $ 100 billion. Those subdivisions which are the largest in their respective countries are shown in bold . Note: the use of nominal GDP and currency conversion in this list makes inter-area comparison difficult List Subdivision Country GDP (billions USD) Year Population (millions) GDP per Capita (thousands of USD) Largest city California   United States 2,674 2016 39.3 68 Los Angeles England   United Kingdom 2,316 2016 54.8 43 London Tokyo   Japan 1,893 2014 42.6 60 Tokyo Texas   United States 1,620 2016 27.9 58 Houston New York   United States 1,515 2016 19.7 77 New York City Guangdong   China 1,200 2016 108.5 11 Guangzhou Jiangsu   China 1,144 2016 79.2 14 Nanjing Seoul   South Korea 1,005 2016 25.6 51 Seoul Kansai region   Japan 1,000 2012 22.8 42 Osaka Shandong   China 1,000 2016 97.3 11 Qingdao Chūbu region   Japan 955 2012 21.7 44 Nagoya Florida   United States 942 2016 20.6 46 Miami Illinois   United ...more...



Real gross domestic product

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Real Gross Domestic Product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e., inflation or deflation ). This adjustment transforms the money-value measure, nominal GDP , into an index for quantity of total output. Although GDP is total output, it is primarily useful because it closely approximates the total spending: the sum of consumer spending, investment made by industry, excess of exports over imports, and government spending. Due to inflation, GDP increases and does not actually reflect the true growth in an economy. That is why the GDP must be divided by the inflation rate (raised to the power of units of time in which the rate is measured) to get the growth of the real GDP. Different organizations use different types of 'Real GDP' measures, for example the United Nations UNCTAD uses 2005 Constant prices and exchange rates while the FRED uses 2009 constant prices and exchange rates , and recently the World Bank switched from 2005 to 2010 constant pr ...more...



Financial and social rankings of sovereign states in Europe

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The aim of this page is to act as a comparison between the sovereign states of Europe regarding economic, financial and social factors. Map of Europe according to the United Nations Geoscheme for Europe Definition of Europe For the purposes of comparison the broader definition of Europe will be used. A sovereign state must meet at least one of the following criteria to be included: Be a recognised European state by the United Nations geoscheme for Europe Be a member state of the European Union Be a member state of the Eurozone Be a member state of the Council of Europe Economic Countries by GDP (nominal) Volkswagen AG's headquarters in Wolfsburg is the base for Germany's largest company by revenue London is considered (along with New York City) to be the world's leading financial capital, with the UK set to become Europe's largest economy by 2030 Data provided is by the International Monetary Fund (2013) Rank Country GDP (Millions of US$)   European Union 17,512,109 1   Germany 3,635,959 2   United Kingdom 2, ...more...



List of sovereign states in Europe by GDP (PPP) per capita

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This is a map and list of European countries by GDP (PPP) per capita for year 2016 from IMF. (WEO Data: April 2017 Edition) Map of sovereign states in Europe by 2016 GDP (PPP) per capita based on international dollars The map data is for year 2016 from IMF, using GDP based on purchasing power parity (PPP) per capita – current international dollar 11 840 8 620 48 004 17 438 17 999 45 046 10 957 20 326 22 795 34 970 33 231 47 985 29 312 42 164 42 313 10 043 48 110 26 669 27 481 49 135 69 230 36 833 25 144 25 709 29 972 104 003 14 596 39 833 5 327 16 643 51 049 69 249 27 764 28 933 22 347 26 489 14 493 31 338 32 085 36 415 49 836 59 560 24 911 8 305 42 480 Adriatic Sea Arctic Ocean Barents Sea Bay of Biscay Black Sea Azov Sea Caspian Sea Celtic Sea Greenland Sea Baffin Bay Gulf of Cadiz Ligurian Sea Mediterranean Sea North Atlantic Ocean North Sea Norwegian Sea Strait of Gibraltar Table of sovereign states in Europe by GDP (PPP) per capita based on current international dollars IMF WEO Data: April 2017 Edition C ...more...



List of Pakistani provinces by gross domestic product

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This is a list of provinces of Pakistan by their gross state product (GSP) (the value of the total economy, and goods and services produced in the respective province ) in nominal terms. GSP is the provincial-level counterpart of the national gross domestic product (GDP), the most comprehensive measure of a country's economic activity. Dynamics Pakistan, as of 2017, had a gross domestic product (GDP) of $304 billion US$ . This value can be further divided into the provincial levels (GSP), providing an outlook of how much value each province contributes to the national GDP. Pakistan has traditionally followed a "top-down" approach in its analysis of economic development; that is, authorities have scarcely attempted to break up national GDP statistics into provincial and subnational units and have focused more on the federation as a whole. Thus, many accounts of provincial GDPs that do exist have usually been projected estimates made by economists, based on the likely percentage of contribution of the respectiv ...more...



List of Latin American and Caribbean countries by GDP (PPP)

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This is a list of Latin American and Caribbean countries by gross domestic product at purchasing power parity in international dollars according to the International Monetary Fund 's estimates in the April 2015 World Economic Outlook database. The Latin American countries Brazil , Mexico , and Argentina accounted for over two-thirds of the region's total gross domestic product (GDP) at purchasing power parity (PPP) in 2015, while Caribbean nations represented a little over 1% of the region's total GDP (PPP). Trinidad and Tobago had the region's highest GDP (PPP) per capita, whereas Haiti had the lowest. Cuba is not included in the list due to lack of economic data. Puerto Rico is not listed since it is a U.S. territory . Latin America and the Caribbean by estimated GDP (PPP) Country GDP (PPP) in millions (Intl$) GDP (PPP) per capita (Intl$)   Brazil 3,259,000 15,941.00   Mexico 2,224,000 18,370.00   Argentina 953,029 22,459.00   Colombia 682,977 14,164.43   Venezuela 550,226 17,430.39   Chile 431,802 24,170.0 ...more...



Nominal

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Look up nominal in Wiktionary, the free dictionary. Nominal may refer to: Nominal (linguistics) , one of the parts of speech Noun phrase or nominal phrase the adjectival form of " noun ", as in "nominal agreement" (= "noun agreement") In engineering, "nominal" is used to describe a measurement (or group of measurements) that matches the predicted value(s) within the expected margin of error. See also Nominal aphasia or anomic aphasia, a problem remembering words and names Nominal category , a group of objects or ideas that can be collectively grouped on the basis of shared, arbitrary characteristic Nominal damages , a small award to compensate for technical harm Nominal data , a form of categorical data in statistics Nominal GDP , a raw gross domestic product value uncompensated for inflation or deflation Nominal group (disambiguation) Nominal number , a number used as an identifier in mathematics Nominal sentence , a sentence without a finite verb Nominal techniques , in computer science for working with for ...more...



Debt-to-GDP ratio

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In economics , the debt-to-GDP ratio is the ratio between a country's government debt (a cumulative amount) and its gross domestic product (GDP) (measured in years). A low debt-to-GDP ratio indicates an economy that produces and sells goods and services sufficient to pay back debts without incurring further debt. Geopolitical and economic considerations - including interest rates , war , recessions , and other variables - influence the borrowing practices of a nation and the choice to incur further debt . Global trends In 2013, United States public debt -to-GDP ratio was at 104.8%. The level of public debt in Japan 2013 was 243.2% of GDP, in China 22.4% and in India 66.7%, according to the IMF, while the public debt-to-GDP ratio at the end of the 2nd quarter of 2016 was at 70.1% of GDP in Germany, 89.1% in the United Kingdom, 98.2% in France and 135.5% in Italy, according to Eurostat . Two thirds of US public debt is owned by US citizens, banks, corporations, and the Federal Reserve Bank ; approximately on ...more...



World economy

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The world economy or global economy is the economy of the world, considered as the international exchange of goods and services that is expressed in monetary units of account (money). In some contexts, the two terms are distinguished: the "international" or "global economy" being measured separately and distinguished from national economies while the "world economy" is simply an aggregate of the separate countries' measurements. Beyond the minimum standard concerning value in production, use, and exchange the definitions, representations, models, and valuations of the world economy vary widely. It is inseparable from the geography and ecology of Earth. It is common to limit questions of the world economy exclusively to human economic activity , and the world economy is typically judged in monetary terms, even in cases in which there is no efficient market to help valuate certain goods or services, or in cases in which a lack of independent research or government cooperation makes establishing figures difficu ...more...



List of North American countries by GDP (nominal)

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Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries in North America are sorted by nominal GDP estimates based on 2016 data from the World Economic Outlook by the International Monetary Fund . The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency . Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. Therefore, these figures should be used with caution. Some countries/regions may have citizens which are on average wealthy. These countries/regions could appear in this list as having a small GDP. This would be because the country/region listed has a small population, and therefore small total economy; the GDP is calculated as the population t ...more...



Comparison between U.S. states and countries by GDP (PPP)

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Port of Houston along the Houston Ship Channel . Texas is a major energy hub for the U.S. This is a comparison between U.S. states and countries by Gross Domestic Product (PPP) . Many of the states of the United States have large Gross Domestic Product (called gross state product ) which would rank highly on a list of countries world GDP. All data is for the year 2013. These figures are based on the IMF list on List of countries by GDP (PPP) for world GDP, and the List of U.S. states by GDP figures. Note: New England is not a state but a group of states which are oftentimes classified as such. Note2: As the PPP is calculated in U.S. dollars for all countries there is no difference for the US economy in Nominal or in PPP terms as both are the same value for the U.S. Silicon Valley , the home to many of the world's largest technology corporations, as well as thousands of small start-up companies all located in California. Comparison of GDP PPP figures between U.S. states and countries for 2013 Rank Country U.S. ...more...



Nominal income target

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A nominal income target is a monetary policy target. Such targets are adopted by central banks to manage national economic activity. Nominal aggregates are not adjusted for inflation . Nominal income aggregates that can serve as targets include nominal gross domestic product (NGDP) and nominal gross domestic income (GDI). Central banks use a variety of techniques to hit their targets, including conventional tools such as interest rate targeting or open market operations , unconventional tools such as quantitative easing or interest rates on excess reserves and expectations management to hit its target. The concept of NGDP targeting was originally proposed by James Meade (1978) and James Tobin (1980). The concept was resuscitated and popularized in the wake of the 2008 financial crash by a group (school) that came to be known as the market monetarists . They claimed that the crisis would have been far less severe had central banks adopted some form of nominal income targeting. Mechanism The central ban ...more...



List of European regions by GDP

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This is a list of European regions ( NUTS2 regions) sorted by their gross domestic product (GDP) . Eurostat calculates the GDP based on the information provided by national statistics institutes affiliated to eurostat. The list presents statistics for 2010 from EUROSTAT, as of 3 June 2013. The figures are in millions of nominal euros, purchasing power standards and PPS per capita. 2013 list NUTS-2 List of EU regions and territories by GDP in 2013 Region (NUTS2) Country Nominal GDP million EUR GDP in PPS million EUR GDP in PPS per capita in EUR Inhabitants (Millions)   Antwerp   Belgium 65,822 58,674 33,500 1.75   Limburg (Belgium)   Belgium 22,418 19,984 23,800 0.84   East Flanders   Belgium 42,354 37,754 26,300 1.44   Flemish Brabant   Belgium 37,290 33,241 30,800 1.08   West Flanders   Belgium 35,668 31,795 27,400 1.16   Walloon Brabant   Belgium 13,657 12,173 32,000 0.38   Hainaut   Belgium 27,959 24,923 19,000 1.31   Liège   Belgium 26,003 23,179 21,600 1.07   Luxembourg (Belgium)   Belgium 5,945 5,300 19 ...more...



List of Indian states and union territories by GDP per capita

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Legend: Red - < ₹ 60,000 Orange - ₹60,000 to ₹80,000 Yellow - ₹80,000 to ₹100,000 Green - ₹100,000 to ₹130,000 Blue - ₹130,000 to ₹160,000 Violet - > ₹160,000 This is a list of Indian states and union territories by GSDP per capita . Gross Domestic State Product (GSDP) is the state counterpart to a country's gross domestic product (GDP), the most comprehensive measure of national economic activity. The following table gives the latest available nominal GSDP per capita figures for the States and Union Territories of India at current prices in Indian rupees. No data is available for the union territories of Dadra and Nagar Haveli , Daman and Diu , and Lakshadweep . Rank State / Union territory GSDP per capita (nominal) Data year 1 Delhi ₹ 273,618 (US$4,300) 2015-16 2 Goa ₹ 270,150 (US$4,200) 2015-16 3 Chandigarh ₹ 242,386 (US$3,800) 2015-16 4 Sikkim ₹ 227,465 (US$3,500) 2015-16 5 Maharashtra ₹ 225,892 (US$3,500) 2015-16 6 Haryana ₹ 214,509 (US$3,300) 2015-16 7 Gujarat ₹ 214,285 (US$3,300) 2015-16 8 Karnataka ₹ ...more...



List of Japanese prefectures by GDP

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This is a list of Japanese prefectures by GDP . Methodology The article lists the GDP of Japanese prefectures in main fiscal years , where all figures are obtained from the Statistics Bureau of Japan ( 日本統計局 ) . Calculating GDP of Japanese prefectures is based on Japanese yen (JP¥), for easy comparison, all the GDP figures are converted into United States dollar (US$) or Renminbi (CN¥) according to current annual average exchange rates. Note that due to heavy changes in yen/yuan/dollar rates, nominal GDP may not reflect relative economic strength in foreign currency terms, meaning that comparisons between years and prefectures are most meaningful in the native currency, the yen. In 2011, the yen/dollar rate is 79.8 (average), valuing Japan's nominal 2011 GDP figure of 468.1 trillion yen , at US $5.87 trillion or 37.9 trillion yuan (at 6.4588/dollar). That is less than the revised 2011 figure for China of 47.16 trillion yuan. Using May 2013 exchange rates, the yen/dollar rate is 100, valuing Japan's 2011 nom ...more...



List of Asian and Pacific countries by GDP

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List of Asian and Pacific countries by GDP may refer to : List of Asian and Pacific countries by GDP (nominal) List of Asian and Pacific countries by GDP (PPP) List of Asian and Pacific countries by GDP (nominal) per capita List of Oceanian countries by GDP See also List of Asian countries by GDP List of countries by GDP List of Asian and Pacific countries by GDP may refer to : List of Asian and Pacific countries by GDP (nominal) List of Asian and Pacific countries by GDP (PPP) List of Asian and Pacific countries by GDP (nominal) per capita List of Oceanian countries by GDP See also List of Asian countries by GDP List of countries by GDP ...more...



List of Argentine provinces by gross domestic product

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This article includes a list of Argentine provinces by Gross Domestic Product , the value of all final goods and services produced within a nation in a given year, and other main indicators. The rows in this table can be sorted by clicking on the arrows at the top of any column. Provinces District 2010 Population (000) 2008 GDP (USD bn) a 2008 GDP per capita (USD) a Agri culture b Mining b Manufac turing b Services & cons truction b Exports (USD mn) 2011 Median mo. salary (USD) a e Vehicles (per 1000) d Income poverty f   City of Buenos Aires 2890 118.000 23,309 0.3 1.0 12.9 85.8 426 1,618 528 12.2   Buenos Aires Province 15625 161.000 7,310 4.5 0.1 21.3 74.1 28134 1,364 266 21.8   Catamarca 368 2.331 6,009 3.6 20.8 12.1 63.5 1596 1,241 162 34.6   Chaco 1055 2.120 2,015 12.6 0.0 7.5 79.9 602 1,061 137 36.4   Chubut 509 7.110 15,422 6.9 21.3 10.0 61.8 3148 2,281 400 21.4   Córdoba 3309 33.239 6,477 10.6 0.2 14.0 75.2 10635 1,200 328 25.7   Corrientes 993 4.053 4,001 12.6 0.0 8.2 79.2 230 1,019 168 N/A   E ...more...



List of Italian regions by GDP

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This article lists Italian regions and autonomous provinces ( NUTS2 ) by gross domestic product (GDP) . Gross domestic product This table reports the gross domestic product ( nominal GDP ), expressed in millions of euro , of the twenty Italian regions and two autonomous provinces from 2000 to 2015. List of Italian regions by GDP (millions of current euro ) Rank Region 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015  % of Nation 1   Lombardy 257,315 270,005 281,977 291,488 301,791 310,195 319,728 333,047 346,189 330,594 345,569 352,857 346,972 344,407 351,831 357,200 21.71 2   Lazio 135,579 143,912 151,451 156,104 166,260 171,116 177,058 184,742 185,199 182,492 184,141 187,649 182,525 180,802 181,983 182,642 11.09 3   Veneto 112,686 116,875 119,679 125,795 132,334 136,174 141,078 146,984 147,220 142,048 144,738 149,232 146,773 147,023 149,603 151,634 9.21 4   Emilia-Romagna 106,967 111,321 115,006 118,585 123,614 127,191 134,164 140,856 142,842 135,581 138,755 144,413 142,532 14 ...more...




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