Gross Domestic Product (GDP) is a monetary measure that represents the market value of all final goods and services produced within a specific time period by a country. It serves as a comprehensive indicator of economic activity and performance. The definition of GDP is maintained by various national and international economic organizations. According to the Organisation for Economic Co-operation and Development (OECD), GDP is an aggregate measure of production. It is calculated as the sum of the gross values added by all resident and institutional units engaged in the production of goods and services, including taxes (minus subsidies) on products that are not included in the value of their outputs. GDP is widely used as a metric for:
  • International comparisons: It helps compare the economic performance of different countries.
  • Economic progress: It provides a broad measure of a nation's economic development over time.
GDP per capita(in USD)
Per capita gross domestic product (GDP) is a financial metric that breaks down a country's economic output per person and is calculated by dividing the GDP of a nation by its population.
Gross fixed capital formation (% of GDP)
Gross fixed capital formation (GFCF) is a macroeconomic concept used in official national accounts such as the United Nations System of National Accounts (UNSNA), National Income and Product Accounts (NIPA) and the European System of Accounts (ESA). GFCF is calledgross because the measure does not make any adjustments to deduct the consumption of fixed capital (depreciation of fixed assets) from the investment figures.
GDP growth (annual %)
The GDP growth rate compares the year-over-year (or quarterly) change in a country’s economic output to measure how fast an economy is growing. Usually expressed as a percentage rate, this measure is popular for economic policy-makers because GDP growth is thought to be closely connected to key policy targets such as inflation and unemployment rates.
GDP per capita growth (annual %)
Annual growth rate of real GDP per capita. Annual growth rate of real Gross Domestic Product (GDP) per capita is calculated as the percentage change in the real GDP per capita between two consecutive years. Real GDP per capita is calculated by dividing GDP at constant prices by the population of a country or area. The data for real GDP are measured in constant US dollars to facilitate the calculation of country growth rates and aggregation of the country data.
GDP Purchasing Power Parity (PPP)
While not directly a measure of GDP, economists look at purchasing power parity (PPP) to see how one country’s GDP measures up in “international dollars” using a method that adjusts for differences in local prices and costs of living to make cross-country comparisons of real output, real income, and living standards.