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Gross domestic product (GDP) is a monetary measure of the market value [2] of all the final goods and services produced and rendered in a specific time period by a country [3] or countries. [ 4 ] [ 5 ] [ 6 ] GDP is often used to measure the economic health of a country or region. [ 3 ]
The trade-to-GDP ratio is an indicator of the relative importance of international trade in the economy of a country. It is calculated by dividing the aggregate value of imports and exports over a period by the gross domestic product for the same period. Although called a ratio, it is usually expressed as a percentage.
GDP captures the amount a country produces, including goods and services produced for other nations' consumption, therefore exports are added. M (imports) [12] 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.
Gross domestic product (GDP) measures the market value of all goods and services a country produces in a specific time frame. It’s used to gauge a nation’s economic growth and its people's ...
A basic guide to how the health of the economy is measured, and why that calculation matters.
World map by trade as a share of GDP. [1] This is the list of countries by trade-to-GDP ratio, i.e. the sum of exports and imports of goods and services, divided by gross domestic product, expressed as a percentage, based on the data published by World Bank.
For oil-export-dependent economies, there could be substantial differences between real GDP and real GDI, due the effect of oil price volatility on the purchasing power in those countries. [1] [2] In the United States National Income and product accounts, the word GDI is use to define GDP calculated with income data rather than expenditure data ...
Spain's Instituto Nacional de Estadística (INES) reported this morning that the country's gross domestic product (GDP) shrank 0.5% sequentially in the first quarter of 2013, the seventh ...