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The following lists summarise the GDP (nominal) of each continent by adding GDP (nominal) of each nation within the seven continent model, sorted by USD. The first list includes 2023 data estimates n1 for members of the International Monetary Fund. The second list shows the World Bank 's estimates, and the third list includes mostly 1432 ...
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates .
Apr 20, 2024 · List of continents by GDP based on the estimates by United Nations and projections by IMF. Data tables, maps and charts.
People also ask
Are PPP per capita figures more narrowly spread than nominal GDP per capita?
What is GDP & how is it calculated?
What is the difference between GDP and GNP?
What is the difference between GDP and GNI?
Apr 28, 2022 · The following lists summarise the GDP (nominal) of each continent by adding GDP (nominal) of each nation within the seven continent model, sorted by USD. The first list includes 2019 data estimates n1 for members of the International Monetary Fund.
- History
- Determining Gross Domestic Product
- GDP and GNI
- National Measurement
- Nominal GDP and Adjustments to GDP
- Standard of Living and GDP: Wealth Distribution and Externalities
- Limitations and Criticisms
- Problems with GDP Data
- External Links
William Petty came up with a concept of GDP, to calculate the tax burden, and argue landlords were unfairly taxed during warfare between the Dutch and the English between 1652-74. Charles Davenantdeveloped the method further in 1695. The modern concept of GDP was first developed by Simon Kuznets for a 1934 U.S. Congress report, where he warned agai...
GDP can be determined in three ways, all of which should, theoretically, give the same result. They are the production (or output or value added) approach, the income approach, and the speculated expenditure approach. It is representative of the total output and income within an economy. The most direct of the three is the production approach, whic...
GDP can be contrasted with gross national product (GNP) or, as it is now known, gross national income (GNI). The difference 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 GNIare, therefore, equivalent terms. GDP is a product produced within a country'...
Within 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 and production by governments).
The raw GDP figure as given by the equations above is called the nominal, historical, or current, GDP. When one compares GDP figures from one year to another, it is desirable to compensate for changes in the value of money – for the effects of inflation or deflation. To make it more meaningful for year-to-year comparisons, it may be multiplied by t...
GDP per capita is often used as an indicator of living standards. The major advantage of GDP per capita as an indicator of the standard of living is that it is measured frequently, widely, and consistently. It is measured frequently in that most countries provide information on GDP every quarter, allowing trends to be seen quickly. It is measured w...
Limitations at introduction
Simon Kuznets, the economist who developed the first comprehensive set of measures of national income, stated in his second report to the U.S. Congress in 1937, in a section titled "Uses and Abuses of National Income Measurements": In 1962, Kuznets stated:
Further criticisms
Ever since the development of GDP, multiple observers have pointed out limitations of using GDP as the overarching measure of economic and social progress. For example, many environmentalists argue that GDP is a poor measure of social progress because it does not take into account harm to the environment. Furthermore, the GDP does not consider human health nor the educational aspect of a population. American politician Robert F. Kennedy criticized the GDP as a measure of "everything except th...
Proposals to overcome GDP limitations
In response to these and other limitations of using GDP, alternative approaches have emerged. 1. In the 1980s, Amartya Sen and Martha Nussbaum developed the capability approach, which focuses on the functional capabilities enjoyed by people within a country, rather than the aggregate wealth held within a country. These capabilities consist of the functions that a person is able to achieve. 2. In 1990, Mahbub ul Haq, a Pakistani economist at the United Nations, introduced the Human Development...
A peer-reviewed study published in the Journal of Political Economy in October 2022 found signs of manipulation of economic growth statistics in the majority of countries. According to the study, this mainly applied to countries that were governed semi-authoritarian/authoritarian or did not have a functioning separation of powers. The study took th...
Global 1. Gross domestic product at the Encyclopædia Britannica 2. Australian Bureau of Statistics Manual on GDP measurement 3. OECD GDP chart 4. UN Statistical Databases 5. World Development Indicators (WDI)at Worldbank.org 6. World GDP Chart (since 1960) Data 1. Bureau of Economic Analysis: Official United States GDP data 2. Historicalstatistics....
List of countries by GDP (nominal) 76 languages. Afrikaans; ... Download QR code; Wikidata item; Print/export Make a book; Download as PDF; Page for printing
The following lists summarise the GDP (nominal) of each continent by adding GDP (nominal) of each nation within the seven continent model, sorted by USD. The first list includes 2019 data estimates n1 for members of the International Monetary Fund.
