gross domestic product

Gross domestic product 1

Gross domestic product"GDP" redirects here. For other uses, see GDP (disambiguation).

A map of world economies by size of GDP (nominal) in $US, CIA World Factbook,2012.

Gross domestic product (GDP) is themarket value of all officiallyrecognized final goods and servicesproduced within a country in a year, orover a given period of time. GDP percapita is often used as an indicator of acountry's material standard of living.[1]

GDP per capita is not a measure ofpersonal income (See Standard ofliving and GDP). Under economictheory, GDP per capita exactly equalsgross domestic income (GDI) percapita. However, due to differences in measurement, there is usually a statistical discrepancy between the twofigures.

GDP is related to national accounts, a subject in macroeconomics. GDP is not to be confused with gross nationalproduct (GNP) which allocates production based on ownership.

HistoryGDP was first developed by Simon Kuznets for a US Congress report in 1934.[2] In this report, Kuznets warnedagainst its use as a measure of welfare (see below under limitations and criticisms). After the Bretton Woodsconference in 1944, GDP became the main tool for measuring a country's economy.

Determining GDPEconomicsWorld GDP (PPP) per capita by country (2012)

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GDP can be determined in three ways, all of which should, in principle, give the same result. They are theproduction (or output) 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 arriveat 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 incomeapproach works on the principle that the incomes of the productive factors ("producers," colloquially) must be equalto the value of their product, and determines GDP by finding the sum of all producers' incomes.[4]

Production approach"Sum total of market value of final goods and services produced in a country during 1 year."1.1. 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.3.3. 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 inventories.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:1.1. By multiplying the output of each sector by their respective market price and adding them together2.2. By collecting data on gross sales and inventories from the records of companies and adding them togetherThe gross value of all sectors is then added to get the gross value added (GVA) at factor cost. Subtracting eachsector's intermediate consumption from gross output gives the GDP at factor cost. Adding indirect tax minussubsidies in GDP at factor cost gives the "GDP at producer prices".

Income approach

Countries by 2012 List of countries by GDP (nominal) per capitaGDP (nominal)per capita.Based on the IMF figures. If no number was available for a country

from IMF, CIA figures were used.

" Sum total of incomes of individuals livingin a country during 1 year ."Another way of measuring GDP is to measuretotal income. If GDP is calculated this way itis sometimes called gross domestic income(GDI), or GDP(I). GDI should provide thesame amount as the expenditure methoddescribed below. (By definition, GDI = GDP.In practice, however, measurement errors willmake the two figures slightly off whenreported by national statistical agencies.)This method measures GDP by addingincomes that firms pay households for factors of production they hire- wages for labour, interest for capital, rent forland and profits for entrepreneurship.The US "National Income and Expenditure Accounts" divide incomes into five categories:


GDP (PPP) per capita (World bank, 2012).

1.1. Wages, salaries, and supplementary labourincome

2.2. Corporate profits3.3. Interest and miscellaneous investment income4.4. Farmers' incomes5.5. Income from non-farm unincorporated

businessesThese five income components sum to netdomestic income at factor cost.Two adjustments must be made to get GDP:

1.1. 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 theincome approach. A common one is:

GDP = compensation of employees + gross operating surplus + gross mixed income + taxes less subsidies onproduction and imports

GDP = COE + GOS + GMI + TP & M

SP & M

Compensation of employees (COE) measures the total remuneration to employees for work done. It includeswages 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 includesmost 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 insociety. 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 onthat 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:

Total factor income = employee compensation + corporate profits + proprietor's income + rental income +net interest[6]

Yet another formula for GDP by the income method is:Wikipedia:Citation needed

where R : rentsI : interestsP : profitsSA : statistical adjustments (corporate income taxes, dividends, undistributed corporate profits)W : wages.


Expenditure approach" All expenditure incurred by individuals during 1 year . "In economics, most things produced are produced for sale and then sold. Therefore, measuring the total expenditureof money used to buy things is a way of measuring production. This is known as the expenditure method ofcalculating GDP. Note that if you knit yourself a sweater, it is production but does not get counted as GDP because itis never sold. Sweater-knitting is a small part of the economy, but if one counts some major activities such aschild-rearing (generally unpaid) as production, GDP ceases to be an accurate indicator of production. Similarly, ifthere is a long term shift from non-market provision of services (for example cooking, cleaning, child rearing, do-ityourself repairs) to market provision of services, then this trend toward increased market provision of services maymask a dramatic decrease in actual domestic production, resulting in overly optimistic and inflated reported GDP.This is particularly a problem for economies which have shifted from production economies to service economies.

Components of GDP by expenditure

Components of U.S. GDP

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

Y = C + I + G + (X M)Here is a description of each GDP component: C (consumption) is normally the largest GDP

component in the economy, consisting of private(household final consumption expenditure) in theeconomy. These personal expenditures fall under one ofthe following categories: durable goods, non-durablegoods, and services. Examples include food, rent,jewelry, gasoline, and medical expenses but does notinclude the purchase of new housing.

I (investment) includes, for instance, business investment in equipment, but does not include exchanges ofexisting assets. Examples include construction of a new mine, purchase of software, or purchase of machinery andequipment 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. Buyingfinancial products is classed as 'saving', as opposed to investment. This avoids double-counting: if one buysshares in a company, and the company uses the money received to buy plant, equipment, etc., the amount will becounted toward GDP when the company spends the money on those things; to also count it when one gives it tothe company would be to count two times an amount that only corresponds to one group of products. Buyingbonds or stocks is a swapping of deeds, a transfer of claims on future production, not directly an expenditure onproducts.

G (government spending) is the sum of government expenditures on final goods and services. It includes salariesof public servants, purchases of weapons for the military and any investment expenditure by a government. Itdoes 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 servicesproduced for other nations' consumption, therefore exports are added.

M (imports) represents gross imports. Imports are subtracted since imported goods will be included in the termsG, I, or C, and must be deducted to avoid counting foreign supply as domestic.

A fully equivalent definition is that GDP (Y) is the sum of final consumption expenditure (FCE), gross capitalformation (GCF), and net exports (X M).


Y = FCE + GCF+ (X M)FCE can then be further broken down by three sectors (households, governments and non-profit institutions servinghouseholds) and GCF by five sectors (non-financial corporations, financial corporations, households, governmentsand non-profit institutions serving households [7]). The advantage of this second definition is that expenditure issystematically broken down, firstly, by type of final use (final consumption or capital formation) and, secondly, bysectors making the expenditure, whereas the first definition partly follows a mixed delimitation concept by type offinal use and sector.Note that C, G, and I are expenditures on final goods and services; expenditures on intermediate goods and servicesdo not count. (Intermediate goods and services are those used by businesses to produce other goods and serviceswithin the accounting year.[8] )According to the U.S. Bureau of Economic Analysis, which is responsible for calculating the national accounts in theUnited States, "In general, the source data for the expenditures components are considered more reliable than thosefor the income components [see income method, below]."[9]

Examples of GDP component variables

C, I, G, and NX(net exports): If a person spends money to renovate a hotel to increase occupancy rates, the spendingrepresents private investment, but if he buys shares in a consortium to execute the renovation, it is saving. Theformer is included when measuring GDP (in I), the latter is not. However, when the consortium conducted its ownexpenditure on renovation, that expenditure would be included in GDP.If a hotel is a private home, spending for renovation would be measured as consumption, but if a government agencyconverts the hotel into an office for civil servants, the spending would be included in the public sector spending, orG.If the renovation involves the purchase of a chandelier from abroad, that spending would be counted as C, G, or I(depending on whether a private individual, the government, or a business is doing the renovation), but then countedagain as an import and subtracted from the GDP so that GDP counts only goods produced within the country.If a domestic producer is paid to make the chandelier for a foreign hotel, the payment would not be counted as C, G,or I, but would be counted as an export.

GDP real growth rates for 2010.

A "production boundary" delimits what willbe counted as GDP.

"One of the fundamental questionsthat must be addressed in preparingthe national economic accounts ishow to define the productionboundarythat is, what parts of themyriad human activities are to beincluded in or excluded from themeasure of the economicproduction."[10]

All output for market is at least in theory included within the boundary. Market output is defined as that which issold for "economically significant" prices; economically significant prices are "prices which have a significantinfluence on the amounts producers are willing to supply and purchasers wish to buy."[11] An exception is that illegalgoods and services are often excluded even if they are sold at economically significant prices (Australia and theUnited States exclude them).

This leaves non-market output. It is partly excluded and partly included. First, "natural processes without human involvement or direction" are excluded.[12] Also, there must be a person or institution that owns or is entitled to


compensation for the product. An example of what is included and excluded by these criteria is given by the UnitedStates' national accounts agency: "the growth of trees in an uncultivated forest is not included in production, but theharvesting of the trees from that forest is included."[13]

Within the limits so far described, the boundary is further constricted by "functional considerations."[14] TheAustralian Bureau for Statistics explains this: "The national accounts are primarily constructed to assist governmentsand others to make market-based macroeconomic policy decisions, including analysis of markets and factorsaffecting market performance, such as inflation and unemployment." Consequently, production that is, according tothem, "relatively independent and isolated from markets," or "difficult to value in an economically meaningful way"[i.e., difficult to put a price on] is excluded.[15] Thus excluded are services provided by people to members of theirown families free of charge, such as child rearing, meal preparation, cleaning, transportation, entertainment of familymembers, emotional support, care of the elderly.[16] Most other production for own (or one's family's) use is alsoexcluded, with two notable exceptions which are given in the list later in this section.Non-market outputs that are included within the boundary are listed below. Since, by definition, they do not have amarket price, the compilers of GDP must impute a value to them, usually either the cost of the goods and servicesused to produce them, or the value of a similar item that is sold on the market. Goods and services provided by governments and non-profit organizations free of charge or for economically

insignificant prices are included. The value of these goods and services is estimated as equal to their cost ofproduction. This ignores the consumer surplus generated by an efficient and effective government suppliedinfrastructure. For example, government-provided clean water confers substantial benefits above its cost.Ironically, lack of such infrastructure which would result in higher water prices (and probably higher hospital andmedication expenditures) would be reflected as a higher GDP. This may also cause a bias that mistakenly favorsinefficient privatizations since some of the consumer surplus from privatized entities' sale of goods and servicesare indeed reflected in GDP.[17] x

Goods and services produced for own-use by businesses are attempted to be included. An example of this kind ofproduction would be a machine constructed by an engineering firm for use in its own plant.

Renovations and upkeep by an individual to a home that she owns and occupies are included. The value of theupkeep is estimated as the rent that she could charge for the home if she did not occupy it herself. This is thelargest item of production for own use by an individual (as opposed to a business) that the compilers include inGDP. If the measure uses historical or book prices for real estate, this will grossly underestimate the value of therent in real estate markets which have experienced significant price increases (or economies with generalinflation). Furthermore, depreciation schedules for houses often accelerate the accounted depreciation relative toactual depreciation (a well-built house can be lived in for several hundred years a very long time after it hasbeen fully depreciated). In summary, this is likely to grossly underestimate the value of existing housing stock onconsumers' actual consumption or income.

Agricultural production for consumption by oneself or one's household is included. Services (such as chequeing-account maintenance and services to borrowers) provided by banks and other

financial institutions without charge or for a fee that does not reflect their full value have a value imputed to themby the compilers and are included. The financial institutions provide these services by giving the customer a lessadvantageous interest rate than they would if the services were absent; the value imputed to these services by thecompilers is the difference between the interest rate of the account with the services and the interest rate of asimilar account that does not have the services. According to the United States Bureau for Economic Analysis,this is one of the largest imputed items in the GDP.[18]


GDP vs GNIGDP can be contrasted with gross national product (GNP) or, as it is now known, gross national income (GNI). Thedifference 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'scitizens. 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 ownershipmakes GDP and GNI non-identical. Production within a country's borders, but by an enterprise owned by somebodyoutside the country, counts as part of its GDP but not its GNI; on the other hand, production by an enterprise locatedoutside the country, but owned by one of its citizens, counts as part of its GNI but not its GDP.To take the United States as an example, the U.S.'s GNI 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 largeamounts 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 decreasedGNI, but not decreased GDP. This would make the use of GDP more attractive for politicians in countries withincreasing national debt and decreasing assets.Gross national income (GNI) equals GDP plus income receipts from the rest of the world minus income payments tothe rest of the world.In 1991, the United States switched from using GNP to using GDP as its primary measure of production.[19] Therelationship between United States GDP and GNP is shown in table 1.7.5 of the National Income and ProductAccounts.

International standardsThe international standard for measuring GDP is contained in the book System of National Accounts (1993), whichwas prepared by representatives of the International Monetary Fund, European Union, Organization for EconomicCo-operation and Development, United Nations and World Bank. The publication is normally referred to as SNA93to distinguish it from the previous edition published in 1968 (called SNA68)SNA93 provides a set of rules and procedures for the measurement of national accounts. The standards are designedto be flexible, to allow for differences in local statistical needs and conditions.

National measurementWithin each country GDP is normally measured by a national government statistical agency, as private sectororganizations normally do not have access to the information required (especially information on expenditure andproduction by governments).Main article: National agencies responsible for GDP measurement

Interest ratesNet interest expense is a transfer payment in all sectors except the financial sector. Net interest expenses in thefinancial sector are seen as production and value added and are added to GDP.


Nominal GDP and adjustments to GDPThe raw GDP figure as given by the equations above is called the nominal, historical, or current, GDP. When onecompares 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 bemultiplied by the ratio between the value of money in the year the GDP was measured and the value of money in abase year.For example, suppose a country's GDP in 1990 was $100 million and its GDP in 2000 was $300 million. Supposealso that inflation had halved the value of its currency over that period. To meaningfully compare its GDP in 2000 toits GDP in 1990, we could multiply the GDP in 2000 by one-half, to make it relative to 1990 as a base year. Theresult would be that the GDP in 2000 equals $300 million one-half = $150 million, in 1990 monetary terms. Wewould see that the country's GDP had realistically increased 50 percent over that period, not 200 percent, as it mightappear from the raw GDP data. The GDP adjusted for changes in money value in this way is called the real, orconstant, GDP.The factor used to convert GDP from current to constant values in this way is called the GDP deflator. Unlikeconsumer price index, which measures inflation or deflation in the price of household consumer goods, the GDPdeflator measures changes in the prices of all domestically produced goods and services in an economy includinginvestment goods and government services, as well as household consumption goods.[20]

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

Real GDP growth rate for year n = [(Real GDP in year n) (Real GDP in year n 1)] / (Real GDP in year n 1)

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

Cross-border comparison and PPPThe level of GDP in different countries may be compared by converting their value in national currency according toeither 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 thecash at the currency market rate & then rebuy that same basket of goods in the other country (with the convertedcash). Going from country to country, the distribution of prices within the basket will vary; typically, non-tradablepurchases will consume a greater proportion of the basket's total cost in the higher GDP country, per theBalassa-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% ofGDP is being spent on buying hi-tech foreign arms, the number of weapons purchased is entirely governed bycurrent exchange rates, since arms are a traded product bought on the international market. There is nomeaningful 'local' price distinct from the international price for high technology goods.

The purchasing power parity method accounts for the relative effective domestic purchasing power of the average producer or consumer within an economy. The method can provide a better indicator of the living standards


especially of less developed countries, because it compensates for the weakness of local currencies in theinternational markets. It also offers better indication of total national wealth. For example, India ranks 10th bynominal GDP, but 3rd by PPP. The PPP method of GDP conversion is more relevant to non-traded goods andservices. In the above example if hi-tech weapons are to be produced internally their amount will be governed byGDP(PPP) rather than nominal GDP.

There is a clear pattern of the purchasing power parity method decreasing the disparity in GDP between high andlow income (GDP) countries, as compared to the current exchange rate method. This finding is called the Penneffect.For more information, see Measures of national income and output.

Per unit GDPGDP is an aggregate figure which does not consider differing sizes of nations. Therefore, GDP can be stated as GDPper capita (per person) in which total GDP is divided by the resident population on a given date, GDP per citizenwhere total GDP is divided by the numbers of citizens residing in the country on a given date, and less commonlyGDP per unit of a resource input, such as GDP per GJ of energy or Gross domestic product per barrel. GDP percitizen in the above case is pretty similar to GDP per capita in most nations, however, in nations with very highproportions of temporary foreign workers like in Persian Gulf nations, the two figures can be vastly different.

GDP per capita (current USD)

2008 2009 2010 2011 2012

United States of America 46,760 45,305 46,612 48,112 49,641

United Kingdom 43,147 35,331 36,238 38,974 39,090

Source:Helgi Library,[21] World Bank

Standard of living and GDPGDP per capita is not a measurement of the standard of living in an economy; however, it is often used as such anindicator, on the rationale that all citizens would benefit from their country's increased economic production.Similarly, GDP per capita is not a measure of personal income. GDP may increase while real incomes for themajority decline. The major advantage of GDP per capita as an indicator of standard of living is that it is measuredfrequently, widely, and consistently. It is measured frequently in that most countries provide information on GDP ona quarterly basis, allowing trends to be seen quickly. It is measured widely in that some measure of GDP is availablefor almost every country in the world, allowing inter-country comparisons. It is measured consistently in that thetechnical definition of GDP is relatively consistent among countries.The major disadvantage is that it is not a measure of standard of living. GDP is intended to be a measure of totalnational economic activitya separate concept.The argument for using GDP as a standard-of-living proxy is not that it is a good indicator of the absolute level ofstandard of living, but that living standards tend to move with per-capita GDP, so that changes in living standards arereadily detected through changes in GDP.


ExternalitiesGDP is widely used by economists to gauge economic recession and recovery and an economy's general monetaryability to address externalities. It is not meant to measure externalities. It serves as a general metric for a nominalmonetary standard of living and is not adjusted for costs of living within a region. GDP is a neutral measure whichmerely shows an economy's general ability to pay for externalities such as social and environmental concerns.Examples of externalities include: 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. Non-market transactionsGDP excludes activities that are not provided through the market, such as household

production and volunteer or unpaid services. As a result, GDP is understated. Unpaid work conducted on free andopen source software (such as GNU/Linux) contribute nothing to GDP, but it was estimated that it would havecost more than a billion US dollars for a commercial company to develop. Also, if free and open source softwarebecame identical to its proprietary software counterparts, and the nation producing the propriety software stoppedbuying proprietary software and switched to free and open source software, then the GDP of this nation wouldreduce; however, there would be no reduction in economic production or standard of living. The work of NewZealand economist Marilyn Waring has highlighted that if a concerted attempt to factor in unpaid work weremade, then it would in part undo the injustices of unpaid (and in some cases, slave) labour, and also provide thepolitical transparency and accountability necessary for democracy.

Underground economy official GDP estimates may not take into account the underground economy, in whichtransactions contributing to production, such as illegal trade and tax-avoiding activities, are unreported, causingGDP to be underestimated.

Asset valueGDP does not take into account the value of all assets in an economy. This is akin to ignoring acompany's balance sheet, and judging it solely on the basis of its income statement.

Non-monetary economyGDP omits economies where no money comes into play at all, resulting in inaccurateor 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.

GDP also ignores subsistence production. Quality improvements and inclusion of new products by not adjusting for quality improvements and new

products, GDP understates true economic growth. For instance, although computers today are less expensive andmore powerful than computers from the past, GDP treats them as the same products by only accounting for themonetary value. The introduction of new products is also difficult to measure accurately and is not reflected inGDP despite the fact that it may increase the standard of living. For example, even the richest person in 1900could not purchase standard products, such as antibiotics and cell phones, that an average consumer can buytoday, since such modern conveniences did not exist then.

What is being producedGDP counts work that produces no net change or that results from repairing harm. Forexample, rebuilding after a natural disaster or war may produce a considerable amount of economic activity andthus boost GDP. The economic value of health care is another classic exampleit may raise GDP if many peopleare sick and they are receiving expensive treatment, but it is not a desirable situation. Alternative economicestimates, such as the standard of living or discretionary income per capita try to measure the human utility ofeconomic activity. See uneconomic growth.

Sustainability of growth GDP is a measurement of economic historic activity and is not necessarily aprojection. A country may achieve a temporarily high GDP from use of natural resources or by misallocatinginvestment.

Nominal GDP does not measure variations in purchasing power or costs of living by area, so when the GDPfigure is deflated over time, GDP growth can vary greatly depending on the basket of goods used and the relativeproportions used to deflate the GDP figure.


Cross-border comparisons of GDP can be inaccurate as they do not take into account local differences in thequality of goods, even when adjusted for purchasing power parity. This type of adjustment to an exchange rate iscontroversial because of the difficulties of finding comparable baskets of goods to compare purchasing poweracross countries. For instance, people in country A may consume the same number of locally produced apples asin country B, but apples in country A are of a more tasty variety. This difference in material well being will notshow up in GDP statistics. This is especially true for goods that are not traded globally, such as houses.

Limitations and criticismsSimon Kuznets, the economist who developed the first comprehensive set of measures of national income, stated inhis first report to the US Congress in 1934, in a section titled "Uses and Abuses of National Income Measurements":

The valuable capacity of the human mind to simplify a complex situation in a compact characterizationbecomes dangerous when not controlled in terms of definitely stated criteria. With quantitativemeasurements especially, the definiteness of the result suggests, often misleadingly, a precision andsimplicity in the outlines of the object measured. Measurements of national income are subject to thistype of illusion and resulting abuse, especially since they deal with matters that are the center of conflictof opposing social groups where the effectiveness of an argument is often contingent uponoversimplification. [...]All these qualifications upon estimates of national income as an index of productivity are just asimportant when income measurements are interpreted from the point of view of economic welfare. Butin the latter case additional difficulties will be suggested to anyone who wants to penetrate below thesurface of total figures and market values. Economic welfare cannot be adequately measured unless thepersonal distribution of income is known. And no income measurement undertakes to estimate thereverse side of income, that is, the intensity and unpleasantness of effort going into the earning ofincome. The welfare of a nation can, therefore, scarcely be inferred from a measurement of nationalincome as defined above.

In 1962, Kuznets stated:[22]

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 forwhat.

Austrian School economist Frank Shostak has argued that GDP is an empty abstraction devoid of any link to the realworld, and, therefore, has little or no value in economic analysis. Says Shostak:

The GDP framework cannot tell us whether final goods and services that were produced during aparticular period of time are a reflection of real wealth expansion, or a reflection of capital consumption.For instance, if a government embarks on the building of a pyramid, which adds absolutely nothing tothe well-being of individuals, the GDP framework will regard this as economic growth. In reality,however, the building of the pyramid will divert real funding from wealth-generating activities, therebystifling the production of wealth.So what are we to make out of the periodical pronouncements that the economy, as depicted by realGDP, grew by a particular percentage? All we can say is that this percentage has nothing to do with realeconomic growth and that it most likely mirrors the pace of monetary pumping. We can thus concludethat the GDP framework is an empty abstraction devoid of any link to the real world.

The UK's Natural Capital Committee [23] highlighted the shortcomings of GDP in its advice to the UK Government in 2013, pointing out that GDP "focusses 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 thatshort-term decisions based solely on what is currently measured by national accounts may prove to be costly in thelong-term".Many environmentalists argue that GDP is a poor measure of social progress because it does not take into accountharm to the environment.[24][25]

In 1989 Herman Daly and John B. Cobb developed the Index of Sustainable Economic Welfare (ISEW), which theyproposed as a more valid measure of socio-economic progress, by taking into account various other factors such asconsumption of non-renewable resources and degradation of the environment.India and China have the largest population in the world and hence has the greatest potential in productivity due tothe fact that the value of a product is measured as the value of service that can be obtained by the holder in exchangefor that product. ( Units per man hour)

Lists of countries by their GDP Lists of countries by GDP List of countries by GDP (nominal), (per capita) List of continents by GDP (nominal) List of countries by GDP (PPP), (per capita), (per hour) List of countries by GDP (real) growth rate, (per capita) List of countries by GDP sector composition List of countries by future GDP estimates (PPP), (per capita), (nominal)

List of newer approaches to the measurement of (economic) progress Human development index (HDI) up until 2009 report HDI used GDP as a part of its calculation and then

factors in indicators of life expectancy and education levels. In 2010 the GDP component has been replaced withGNI.

Genuine progress indicator (GPI) or Index of Sustainable Economic Welfare (ISEW) The GPI and the ISEWattempt to address many of the above criticisms by taking the same raw information supplied for GDP and thenadjust for income distribution, add for the value of household and volunteer work, and subtract for crime andpollution.

European Quality of Life Survey The survey, first published in 2005, assessed quality of life across Europeancountries through a series of questions on overall subjective life satisfaction, satisfaction with different aspects oflife, and sets of questions used to calculate deficits of time, loving, being and having.

Gross national happiness The Centre for Bhutanese Studies in Bhutan is working on a complex set of subjectiveand objective indicators to measure 'national happiness' in various domains (living standards, health, education,eco-system diversity and resilience, cultural vitality and diversity, time use and balance, good governance,community vitality and psychological well-being). This set of indicators would be used to assess progress towardsgross national happiness, which they have already identified as being the nation's priority, above GDP.

Happy Planet Index The happy planet index (HPI) is an index of human well-being and environmental impact,introduced by the New Economics Foundation (NEF) in 2006. It measures the environmental efficiency withwhich human well-being is achieved within a given country or group. Human well-being is defined in terms ofsubjective life satisfaction and life expectancy while environmental impact is defined by the Ecological Footprint.

OECD Better Life Index - The better lives compendium of indicators produced in 2011 reflects some 10 years bythe organisation to develop a wider of set of indicators more closely attuned to the measurement of wellbeing orwelfare outcomes. There is felt to be considerable convergence (in 2011) in high income countries about the kindsof dimensions that should be included in such multi-dimensional approaches to welfare measurement - see forinstance the capabilities measurement research project capabilities approach.


Composite Wealth Indicators Namely yearly material wealth (an amended version of GNI to include depletionof natural resources and the costs of pollution), biological wealth (measured through life expectancy) and thusexpected material wealth (or physical wealth), a linear combination of biological and yearly material wealth (theamount of material wealth expected to be produced by an individual during his/her lifetime).[26]

Future Orientation Index - Tobias Preis et al. used Google Trends data to demonstrate that Internet users fromcountries with a higher per capita gross domestic product (GDP) are more likely to search for information aboutthe future than information about the past. The findings, published in the journal Scientific Reports, suggest theremay be a link between online behaviour and real-world economic indicators. The authors of the study examinedGoogle search queries made by Internet users in 45 different countries in 2010 and calculated the ratio of thevolume of searches for the coming year ('2011') to the volume of searches for the previous year ('2009'), whichthey call the 'future orientation index'. They compared the future orientation index to the per capita GDP of eachcountry and found a strong tendency for countries in which Google users enquire more about the future to exhibita higher GDP. The results hint that there may potentially be a relationship between the economic success of acountry and the information-seeking behaviour of its citizens online.

World Governance Index - Basing their work on the United Nations Millennium Declaration, which was thesubject of unprecedented U.N. consensus among the heads of state and government who adopted it in 2000, ateam of researchers of the Forum for a new World Governance (FnWG) [27] focused its research on the five mainconcepts defining the application framework of world governance and constituting key goals to be reached by2015: Peace and Security; Democracy and Rule of Law; Human Rights and Participation; SustainableDevelopment and Human Development

Social Progress Index - measures the extent to which countries provide for the social and environmental needs oftheir citizens. Fifty-two indicators in the areas of basic human needs, foundations of wellbeing, and opportunityshow the relative performance of nations. The index uses outcome measures when there is sufficient dataavailable or the closest possible proxies.

Bibliography Australian Bureau for Statistics, Australian National Accounts: Concepts, Sources and Methods [28], 2000.

Retrieved November 2009. In depth explanations of how GDP and other national accounts items are determined. United States Department of Commerce, Bureau of Economic Analysis, Concepts and Methods of the United

States National Income and Product Accounts [29]PDF. Retrieved November 2009. In depth explanations of howGDP and other national accounts items are determined.

External links

Global Global GDP Visualization [30]

World GDP Chart (since 1960) [31]

Australian Bureau of Statistics Manual on GDP measurement [32]

GDP-indexed bonds [33]

World Development Indicators (WDI) [34]

UN Statistical Databases [35]


Data Bureau of Economic Analysis: Official United States GDP data [36]

Historicalstatistics.org: Links to historical statistics on GDP for different countries and regions [37], maintained bythe Department of Economic History at Stockholm University.

Historical US GDP (yearly data) [38], 1790present, maintained by Samuel H. Williamson and Lawrence H.Officer, both professors of economics at the University of Illinois at Chicago.

Historical US GDP (quarterly data) [39], 1947present OECD Statistics Google public data [40]: GDP and Personal Income of the U.S. (annual): Nominal Gross Domestic Product The Maddison Project [41] of the Groningen Growth and Development Centre at the University of Groningen, the

Netherlands. This project continues and extends the work of Angus Maddison in collating all the available,credible data estimating GDP for different countries around the world. This includes data for some countries forover 2,000 years back to 1 CE and for essentially all countries since 1950.

Articles and books

Library resources aboutGross domestic product

Resources in your library [42]

Gross Domestic Product: An Economys All [43], International Monetary Fund. Stiglitz JE, Sen A, Fitoussi J-P. Mismeasuring our Lives: Why GDP Doesn't Add Up, New Press, New York,

2010 [44]

What's wrong with the GDP? [45]

Limitations of GDP Statistics [46] by Robert Schenk. Whether output and CPI inflation are mismeasured [47], by Nouriel Roubini and David Backus, in Lectures in

Macroeconomics Rodney Edvinsson, Growth, Accumulation, Crisis: With New Macroeconomic Data for Sweden 18002000

[48]PDF Clifford Cobb, Ted Halstead and Jonathan Rowe. "If the GDP is up, why is America down?" The Atlantic

Monthly, vol. 276, no. 4, October 1995, pages 5978 [49]

Jerorn C.J.M. van den Bergh, "Abolishing GDP [50]" GDP and GNI in OECD Observer No246-247, Dec 2004-Jan 2005 [51]

Progress, what progress? in OECD Observer No272 March 2009 [52]

Notes and references[1] French President seeks alternatives to GDP (http:/ / www. guardian. co. uk/ business/ 2009/ sep/ 14/ sarkozy-attacks-gdp-focus), The

Guardian 14-09-2009.[2] 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, 19291932". 73rd US Congress, 2d session, Senate document no. 124, page5-7 Simon Kuznets, 1934. "National Income, 19291932". 73rd US Congress, 2d session, Senate document no. 124, page 5-7 Simon Kuznets,1934. "National Income, 19291932". 73rd US Congress, 2d session, Senate document no. 124, page 5-7. http:/ / fraser. stlouisfed. org/ docs/publications/ nipab/ 19340104_nationalinc. pdf

[3] http:/ / en. wikipedia. org/ w/ index. php?title=Template:Economics_sidebar& action=edit[4] World Bank, Statistical Manual >> National Accounts >> GDPfinal output (http:/ / web. worldbank. org/ WBSITE/ EXTERNAL/

DATASTATISTICS/ EXTDECSTAMAN/0,,contentMDK:20882526~menuPK:2648252~pagePK:64168445~piPK:64168309~theSitePK:2077967~isCURL:Y,00. html), retrievedOctober 2009.

[5][5] Based on the IMF figures. If no number was available for a country from IMF, CIA figures were used.


[6][6] United States Bureau of Economic Analysis, , page 5; retrieved November 2009. Another term, "business current transfer payments", may beadded. Also, the document indicates that the capital consumption adjustment (CCAdj) and the inventory valuation adjustment (IVA) areapplied to the proprietor's income and corporate profits terms; and CCAdj is applied to rental income.

[7] http:/ / epp. eurostat. ec. europa. eu/ statistics_explained/ index. php/ Glossary:Non-profit_institutions_serving_households_(NPISH)[8] Thayer Watkins, San Jos State University Department of Economics, "Gross Domestic Product from the Transactions Table for an

Economy" (http:/ / www. sjsu. edu/ faculty/ watkins/ gdp. htm), commentary to first table, " Transactions Table for an Economy". (Pageretrieved November 2009.)

[9] Concepts and Methods of the United States National Income and Product Accounts, chap. 2.[10] BEA, Concepts and Methods of the United States National Income and Product Accounts, p 12.[11] Australian National Accounts: Concepts, Sources and Methods, 2000, sections 3.5 and 4.15.[12] This and the following statement on entitlement to compensation are from Australian National Accounts: Concepts, Sources and Methods,

2000, section 4.6.[13] Concepts and Methods of the United States National Income and Product Accounts, page 2-2.[14][14] Concepts and Methods of the United States National Income and Product Accounts, page 2-2.[15] Australian National Accounts: Concepts, Sources and Methods, 2000, section 4.4.[16] Concepts and Methods of the United States National Income and Product Accounts, page 2-2; and Australian National Accounts: Concepts,

Sources and Methods, 2000, section 4.4.[17] Concepts and Methods of the United States National Income and Product Accounts, page 2-4.[18] Concepts and Methods of the United States National Income and Product Accounts, page 2-5.[19] United States, Bureau of Economic Analysis, Glossary, "GDP" (http:/ / www. bea. gov/ glossary/ glossary. cfm). Retrieved November 2009.[20] 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 (http:/ /web. worldbank. org/ WBSITE/ EXTERNAL/ DATASTATISTICS/ EXTDECSTAMAN/0,,contentMDK:20908551~menuPK:2648276~pagePK:64168445~piPK:64168309~theSitePK:2077967~isCURL:Y,00. html).

[21] | http:/ / helgilibrary. com/ indicators/ index/ gdp-per-capita-current-usd GDP Per Capita (Current USD) | 2014-02-10[22][22] Simon Kuznets. "How To Judge Quality". The New Republic, October 20, 1962[23] http:/ / www. naturalcapitalcommittee. org/ home. html[24] The Virtues of Ignoring GDP http:/ / www. thebrokeronline. eu/ Articles/ The-virtues-of-ignoring-GDP[25] The Rise and Fall of G.D.P. http:/ / www. nytimes. com/ 2010/ 05/ 16/ magazine/ 16GDP-t. html?pagewanted=all[26] See Emanuele Felice, Neither dashboard nor 'mashup' indices: an empirical wealth approach as a pathway to a comprehensive measure of

development, http:/ / www. h-economica. uab. es/ wps/ 2012_01. pdf[27] http:/ / www. world-governance. net[28] http:/ / www. abs. gov. au/ Ausstats/ abs@. nsf/ Latestproducts/ 3F880EE1D366198CCA2569A400061616?opendocument[29] http:/ / www. bea. gov/ national/ pdf/ NIPAhandbookch1-4. pdf[30] http:/ / gdpvisualization. com/[31] http:/ / www. google. com/ publicdata/ explore?ds=wb-wdi& met=ny_gdp_mktp_cd& idim=country:USA:CHN:FRA:DEU:JPN:GBR[32] http:/ / www. abs. gov. au/ Ausstats/ abs@. nsf/ 66f306f503e529a5ca25697e0017661f/

3f880ee1d366198cca2569a400061616!OpenDocument[33] http:/ / perso. wanadoo. fr/ pgreenfinch/ eoblpib. htm[34] http:/ / databank. worldbank. org/ data/ home. aspx[35] http:/ / unstats. un. org/ unsd/ databases. htm[36] http:/ / www. bea. gov/ national/ index. htm#gdp[37] http:/ / www. historicalstatistics. org/[38] http:/ / www. measuringworth. org/ usgdp/[39] http:/ / finance-data. com/ series/ GDP[40] http:/ / www. google. com/ publicdata/ explore?ds=a7jenngfc4um7_& ctype=l& strail=false& nselm=h& met_y=gross_domestic_product&

hl=en& dl=en[41] http:/ / www. ggdc. net/ maddison/ maddison-project/ home. htm[42] http:/ / tools. wmflabs. org/ ftl/ cgi-bin/ ftl?st=wp& su=Gross+ domestic+ product[43] http:/ / www. imf. org/ external/ pubs/ ft/ fandd/ basics/ gdp. htm[44] http:/ / www. wcfia. harvard. edu/ node/ 6224[45] http:/ / dieoff. org/ page11. htm[46] http:/ / ingrimayne. saintjoe. edu/ econ/ Measuring/ GNP2. html[47] http:/ / pages. stern. nyu. edu/ ~nroubini/ MEASURE. HTM[48] http:/ / urn. kb. se/ resolve?urn=urn:nbn:se:su:diva-378[49] http:/ / www. theatlantic. com/ past/ politics/ ecbig/ gdp. htm[50] http:/ / papers. ssrn. com/ sol3/ papers. cfm?abstract_id=962343[51] http:/ / www. oecdobserver. org/ news/ fullstory. php/ aid/ 1507/ GDP_and_GNI. html[52] http:/ / www. oecdobserver. org/ news/ fullstory. php/ aid/ 2793/ Progress,_what_progress_. html


Further reading Coyle, Diane (2014). GDP: A Brief but Affectionate History. Princeton, NJ: Princeton University Press.

ISBN978-0-691-15679-8.

Article Sources and Contributors 18

Article Sources and ContributorsGross domestic product Source: http://en.wikipedia.org/w/index.php?oldid=612442327 Contributors: 155ws, 2004-12-29T22:45Z, 21655, 28421u2232nfenfcenc, 5 albert square, 50Stars,A-tron, A. B., AadaamS, Aamirhatif, Aaronchall, Abebe45, Absinf, Adam78, Adam7davies, Addshore, Aeiuthhiet, Aetheling, Aetil, Aformalevent, AgarwalSumeet, AgentCDE, Ahendrl,Ahoerstemeier, Ahuey123, Aitias, Akamad, Akinara, Alansohn, Aleksael, Alex1011, Alexhch, Alexnicholls, Alexwcovington, Allstarecho, Alsandro, Altar, Amakuha, Amaury, Anand deadly,Anaxial, Anbu121, Andre Engels, Andres, Andrewaskew, Andrewman327, Andri Egilsson, Andy Marchbanks, Andycjp, Anigma10363, Anonymi, Antandrus, Antarctica365, Anthony,Antoniosteve, Antriver, Anwar saadat, Appleseed, Arab Hafez, ArglebargleIV, Armandeh, Arrala, Arthur Rubin, Ash211, Ashley thomas80, Atlastawake, Attila.lendvai, Auntof6,AutomaticStrikeout, Avono, Axan.bulut, AxelBoldt, BKfi, Baboshgastringo, Bakerccm, Barbaar, Be so empty without me, BeachComber1972, Beadbs, Beeezy, Before My Ken, Beland,Bender235, Benjamin890, Benwildeboer, Bgwhite, Bhadani, Bigsam087, Bilderbear, Bkwillwm, Blitz.ldn, Bluemoons, Bluemoose, Bmaisonnier, Bob Finkley, Bob f it, Boba22CZ,BobbyChristmas, Bobo192, Boivie, BokicaK, Bombshell, Bonadea, Bonewah, Bongbang, Bongwarrior, Bontairo, Bookandcoffee, Boris Barowski, Brahmastra, BrendelSignature, Brenont,Briancollins, Brianga, Brimba, Bronx Discount Liquor, Brusegadi, Bsadowski1, Bsoft, Budavari1970, Bujo64, Burfi, Byelf2007, Cacycle, Cadiomals, Calexico, Cambrasa, Camillaschippa, Can'tsleep, clown will eat me, CanadianLinuxUser, Cannolis, Cantus, Capricorn42, CarbonRod85, Carleas, Carlosvigopaz, Carolmooredc, CartoonDiablo, Casperdc, Cautious, Cctush, Cdc, Celarnor,Centrelink1, Chaitanya.lala, Chamal N, Chaojoker, Chaosdruid, Charles2711, CharlesC, Chasingsol, Che090572, Chendy, Chensiyuan, Cheskis, Chinneeb, Chivista, Chodorkovskiy, Chris 73,Chris the speller, ChrisGualtieri, Chrisbolt, CieloEstrellado, CircleAdrian, Civvi, Cjfsyntropy, CliffC, Clintville, Closedmouth, Cmdrjameson, Colonies Chris, Comet Tuttle, CommonsDelinker,Conquest1980, Conversion script, CosineKitty, Courcelles, Cournot, Cpl Syx, Creionul, Cretog8, Crossmr, Crossswords, Crosstimer, Csusarah, Cypherrange, Czalex, CzarNick, D.Tzumli,D4g0thur, DBigXray, DMacks, Dacker13, DailyEconomic, Dan100, Daniel Bonniot de Ruisselet, Darkwind, DaveApter, DavidLeighEllis, DavidMCEddy, Davy.zou, Dawn Bard,DeadEyeArrow, Dealing with vandalism, Deeptrivia, Defabc456123, Deiz, Dekimasu, Delldot, Den fjttrade ankan, DerHexer, Dhone Dognani, DirkvdM, Discospinster, Distantbody, Dlsterling,Dmn, Doc Tropics, DocRuby, Docu, Donarreiskoffer, Donner60, Dowjgyta, Dreadstar, Dromore45, Ducknish, Dungodung, Duoduoduo, DvK, Dwight666, Dwrcan, Dwvisser, Dylan Lake,Dnadan, ESkog, Eclecticos, EcoRat, Edward, Eeekster, Efe, Effib, ElHornberg, Elekhh, Emilfarb, Enchanter, Enkiduk, Epbr123, Epicgenius, Epipelagic, Eric-Wester, Erigra, Eritain, Es-won,Etidepeti, Everard Proudfoot, Everyking, Evil Connor, Excirial, Exor674, Eyesnore, Eztoastbom, Faithlessthewonderboy, Falcon8765, Faradayplank, Farcaster, Farmanesh, Fatjoe8, Favonian,Fdhgjkhafdgh, Fennec, Fephisto, Fieldday-sunday, Finder222, Finlay McWalter, FinnWiki, Flagboy, Flewis, Flyer22, Flyguy649, Foobar35, Fraggle81, Frank Lofaro Jr., Fredrik, Fritts1227,Fulldecent, Funnyfarmofdoom, Furypanda, Fuzheado, F, Gaff, Gail, Gaius Cornelius, Galoubet, Gareth Griffith-Jones, Gayathri47, Geoffrey Gibson, Geremy.Hebert, Gerrit, Ghorbanalibeik,Giftlite, Giler, Gilliam, Gimboid13, Git2010, Glacialfox, Glenn L, Gmobus, Goetheschule, Gogo Dodo, Goingstuckey, Goldcakes, Goodvac, Graculus, Grafen, Graphium, Graufbold, Green Troll,Green Trolls, Gregalton, GregorB, Greswik, Grick, Griffinofwales, GrowsWalt, Grunners, Gsarwa, Gsociology, Guanaco, Gudeldar, Guest2625, Gumbick, Gurch, Gurry, Gwernol,HIDECCHI001, HMSSolent, Hadal, Hairy Dude, HalfShadow, Hallows AG, Harryboyles, Hdt83, Hdurina, Hello71, Henry Flower, Heron, Hoddyman, Homunculus 2, Hu12, Huangkai, Hughey,Hut 8.5, Huw Powell, Hvn0413, Hydriz, I Enjoy Commenting, I am a violinist, IANVS, Ibagli, Ibdbgr, Ignirtoq, Igoldste, 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Primergrey, Pristino, Prodego, Professor marginalia, Project2501a, Pseudomonas, Psy guy, Puffin,Quandapanda, RUL3R, RafaelG, Ragnrok, Rain74, RainbowOfLight, RandomP, RaveX, RazorICE, Rchandra, Rebanna8*, RememberingLife, Requestion, Riana, Richhoncho, Rinconsoleao,Rishsn, Rjensen, Rjwilmsi, Rklawton, Robert Brockway, Robertbyrne, Robertson-Glasgow, Rocketrick217, Roke, Ronhjones, Roryclarke, Rovanion, Royal888, Rronline, Rror, Rstln3, Rtaitm,RubleuleR, Runningdoglackey, Rushbugled13, Ryguasu, Ryulong, S Chapin, SCEhardt, SG, SHIMONSHA, SJP, STHayden, Saamah, Sadib en, Sae Harshberger, SamX, Samuel, Samw, Sannse,Savantpol, SchfiftyThree, Scjessey, Sean William, Seaphoto, Sekicho, Sepes, SeptimusOrcinus, Serhio, Sesu Prime, SexyBern, Sgstarling, Shadow demon, Shahnawaz243, Sharathd, Shauncourtice, Shenme, Sherbrooke, Shirik, Sietse Snel, SimonP, Simon_J_Kissane, Skr15081997, Smallman12q, Snagari, Snipeseye, Snoopy'07-EN, Snowolf, SoWhy, Some jerk on the Internet,Somedifferentstuff, Son 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Image Sources, Licenses and ContributorsFile:Map of world countries by GDP (nominal) in US$.png Source: http://en.wikipedia.org/w/index.php?title=File:Map_of_world_countries_by_GDP_(nominal)_in_US$.png License:Creative Commons Attribution-Sharealike 3.0 Contributors: LouisAragonFile:Gdpercapita.PNG Source: http://en.wikipedia.org/w/index.php?title=File:Gdpercapita.PNG License: Creative Commons Attribution-Sharealike 3.0 Contributors: User:QuandapandaFile:Emblem-money.svg Source: http://en.wikipedia.org/w/index.php?title=File:Emblem-money.svg License: GNU General Public License Contributors: perfectska04File:BNP perhoofd 2012.PNG Source: http://en.wikipedia.org/w/index.php?title=File:BNP_perhoofd_2012.PNG License: Creative Commons Attribution-Sharealike 3.0 Contributors:User:SadibFile:GDP Categories - United States.png Source: http://en.wikipedia.org/w/index.php?title=File:GDP_Categories_-_United_States.png License: Public Domain Contributors: RonhjonesImage:Gdp real growth rate 2007 CIA Factbook.PNG Source: http://en.wikipedia.org/w/index.php?title=File:Gdp_real_growth_rate_2007_CIA_Factbook.PNG License: Creative CommonsAttribution-ShareAlike 3.0 Unported Contributors: Sbw01fFile:Flag of the United States.svg Source: http://en.wikipedia.org/w/index.php?title=File:Flag_of_the_United_States.svg License: Public Domain Contributors: AnomieFile:Flag of the United Kingdom.svg Source: http://en.wikipedia.org/w/index.php?title=File:Flag_of_the_United_Kingdom.svg License: Public Domain Contributors: Anomie, GoodOlfactory, MSGJ, Mifter

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Documents

gross domestic product

gdp percapita

gdp disambiguation

gross value of domestic

total product

gross value ad

size of gdp nominal

gdpeconomicsworld gdp