GDP (Gross Domestic Product) is the amount of economic activity within a country. It is the total value of goods and services produced in that country during a given year.
Confusingly, people are increasing measuring in GNI (Gross National Income). This is the measure of a country’s economic activity generated not only within its borders but also by its people and companies operating elsewhere.
Both GDP & GNI are usually measured in US dollars and the simple numbers are often adjusted – so-called PPP (purchasing power parity) – to reflect the different cost of living in each country.
The income can, for both GDP or GNI, either be shown as a simple total for the country or as an amount per person living there: the so called ‘per capita’ figures.
We focus on figures adjusted for PPP as we think this is a more useful snapshot of the financial situation of a country.
Estimates are produced by the International Monetary Fund (IMF), the World Bank, the US Central Intelligence Agency (CIA) and the United Nations (UN). Needless to say, they differ!
The IMF, world Bank and UN figures are, conveniently, listed on side by side on Wikipedia, so we are using them as a source instead of our long-term favourite, the CIA World Factbook.
Unadjusted total GDP
Total GDP (adjusted for purchasing power parity (‘PPP’))
Unadjusted and PPP total GNI
GDP per capita (purchasing power parity (‘PPP’))
GNI per capita (purchasing power parity (‘PPP’))
The world bank publishes a record of past GDP growth, based – of course – on its figures
The IMF predicts GDP growth