Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period. As such, it also measures the income earned from that production, or the total amount spent on final goods and services (less imports). While GDP is the single most important indicator to capture economic activity, it falls short of providing a suitable measure of people's material well-being for which alternative indicators may be more appropriate. This indicator is based on nominal GDP (also called GDP at current prices or GDP in value) and is available in different measures: US dollars and US dollars per capita (current PPPs). All OECD countries compile their data according to the 2008 System of National Accounts (SNA). This indicator is less suited for comparisons over time, as developments are not only caused by real growth, but also by changes in prices and PPPs. Show Latest publicationDefinition of Gross domestic product (GDP)Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period. As such, it also measures the income earned from that production, or the total amount spent on final goods and services (less imports). While GDP is the single most important indicator to capture economic activity, it falls short of providing a suitable measure of people's material well-being for which alternative indicators may be more appropriate. This indicator is based on nominal GDP (also called GDP at current prices or GDP in value) and is available in different measures: US dollars and US dollars per capita (current PPPs). All OECD countries compile their data according to the 2008 System of National Accounts (SNA). This indicator is less suited for comparisons over time, as developments are not only caused by real growth, but also by changes in prices and PPPs. CitationPlease cite this indicator as follows: Source databaseFurther indicators related to GDP and spendingFurther publications related to GDP and spendingAbout the LDC categoryLeast developed countries (LDCs) are low-income countries confronting severe structural impediments to sustainable development. They are highly vulnerable to economic and environmental shocks and have low levels of human assets. There are currently 46 countries on the list of LDCs which is reviewed every three years by the Committee for Development (CDP). LDCs have exclusive access to certain international support measures in particular in the areas of development assistance and trade. In the World Development Indicators database (and most other
time series datasets), all 189 World Bank member countries, plus 28 other economies with populations of more than 30,000, are classified so that data users can aggregate, group, and compare statistical data of interest, and for the presentation of key statistics. The main classifications provided are by geographic region, by income group, and by the operational
lending categories of the World Bank Group. These groupings change from time to time: these tables provide those currently in use. The term country, used interchangeably with economy, does not imply political independence but refers to any territory for which
authorities report separate social or economic statistics. Geographic regions Income groups Countries are immediately reassigned on July 1 each year, based on the estimate of their GNI per capita for the previous calendar year. Income groupings remain fixed for the entire fiscal year (i.e., until July 1 of the following year), even if GNI per capita estimates are revised in the meantime. See “How are the income group thresholds determined?” Download an Excel file of historical classifications by income. Operational lending categories Classification reassignments of operational lending categories may occur at any time, but will only be reflected in World Development Indicators or other databases when those databases are
updated. Other groupings |