Author: Pankaj Chowdhury


GDP (Gross Domestic Product)

1. Real GDP Growth – Annual Percent Change:

This measures the year-on-year percentage change in the real GDP, which is adjusted for inflation. It reflects the economic growth rate of a country by showing how much more (or less) the economy produced compared to the previous year.

2. GDP, Current Prices – Billions of U.S. Dollars:

This is the total market value of all final goods and services produced within a country in a specific period, measured in current U.S. dollars. It reflects the size and economic strength of a country without adjusting for inflation.

3. GDP per Capita, Current Prices – U.S. Dollars per Capita:

This divides the GDP at current prices by the population. It provides an average economic output per person and is an indicator of the standard of living and economic prosperity of the population.

4. GDP, Current Prices – Purchasing Power Parity (PPP); Billions of International Dollars:

This adjusts the GDP figures for differences in price levels between countries, converting them into a common currency (international dollars). It allows for a more accurate comparison of economic productivity and living standards between countries.

5. GDP per Capita, Current Prices – Purchasing Power Parity (PPP); International Dollars per Capita:

Similar to the previous metric, this divides the PPP-adjusted GDP by the population. It provides a better comparison of individual economic well-being across different countries by accounting for cost-of-living differences.

6. GDP Based on PPP – Share of the World:

This shows a country’s share of the total world GDP when measured at PPP. It indicates the country’s relative size and importance in the global economy.

7. Implied PPP Conversion Rate – National Currency per International Dollar:

This is the exchange rate that equalizes the purchasing power of different currencies by eliminating the differences in price levels between countries. It shows how much of the national currency is needed to buy the same amount of goods and services as one international dollar.

Inflation

1. Inflation Rate, Average Consumer Prices – Annual Percent Change

This measures the average annual percentage change in the price level of a basket of consumer goods and services. It indicates how much prices are increasing or decreasing over time, affecting the purchasing power of money.

2. Inflation Rate, End of Period Consumer Prices – Annual Percent Change:

This measures the annual percentage change in the consumer price index at the end of a specific period, typically a year. It reflects the inflation rate over the entire period and is often used for policy-making and economic analysis.

People

1. Population – Millions of People:

This is the total number of people living in a country, typically measured in millions. It provides context for other economic indicators and is crucial for calculating per Capita metrics.

2. Unemployment Rate – Percent:

This measures the percentage of the labour force that is unemployed and actively seeking employment. It is a key indicator of labour market conditions and economic health.

Current Account

1. Current Account Balance U.S. Dollars – Billions of U.S. Dollars:

This measures the difference between a country’s savings and its investment. It includes the trade balance (exports minus imports of goods and services), net income from abroad, and net current transfers. A positive balance indicates a surplus, while a negative balance indicates a deficit.

2. Current Account Balance Percent of GDP – Percent of GDP:

This expresses the current account balance as a percentage of GDP, providing a relative measure of a country’s international economic position and the sustainability of its external balances.

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