A Complete GDP Calculator
This economics tool is used to calculate the gdp, gnp, gdp deflator, gdp growth rate, real gdp etc..
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*net income of foreigners refers to the income that domestic citizens earn abroad subtracted from the income foreigners earn domestically.
Formula To Calculate GDP (Gross Domestic Product):
The GDP has four components: personal consumption, business investment, government spending, and net trade.
GDP = personal consumption + gross investment + government consumption + net exports of goods and services
Formula To Calculate GNP (Gross national product) :
GNP is similar to GDP in that it is the market value of all products and services produced in a year through the labor and property supplied by the country citizens.
GNP = employee compensation + proprietors' income + rental income + corporate profits + interest income
GDP = GNP + indirect business taxes + depreciation + net income of foreigners
The above formuals is belongs to resource cost-income approach.
Formula To Calculate GDP Deflator :
It is a measure of the level of prices of all new, domestically produced, final goods and services in an economy in a year. Also, it is considered to be a relatively better measure of GDP.
GDP Deflator =
Where,
Nominal GDP (not adjusted for inflation) of a given year is computed using that year prices,
While the real GDP(adjusted for inflation) of that year is computed using the base years prices.
GDP Deflator is a factor by which normal GDP is adjusted to calculate Real GDP.
To know the GDP deflator (base year varies by country). Click Here. - It redirects you to official website of The World Bank
Formula To Calculate GDP Growth Rate :
Growth rate measures how fast the economy is growing of a country. The rate compares the most recent quarter of the country economic output to the previous quarter.
GDP growth rate =
The GDP growth rate indicates how quickly the economy is growing or shrinking.
Formula To Calculate Real GDP :
Real GDP is a measure of GDP that adjusts for inflation and deflation. This is as opposed to nominal GDP which measures GDP based on unadjusted prices. Real GDP generally measures an economys actual value more accurately than nominal GDP.
Real GDP =
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