GDP Calculator

Calculate the GDP of a given country based on its expenditure within seconds by using this GDP calculator.

This simple tool is intended to provide the correct calculation of economic performance. Access it directly from your browser and perform the whole calculation online. 

What Is GDP(Gross Domestic Product)?

GDP is an essential measurement that helps to measure the economic condition of a country. In General, it informs about the total value of the services and goods that are produced in a country during a specific period of time, mostly a year. 

Why Is GDP Important?

GDP indicates the economic growth of a country over a given period of time. This measurement is very helpful for investors and economists because it helps them to easily assess the overall performance and health of an economy. An increase in the GDP shows that the economy is performing well. 

The measurement that GDP provides helps in determining the living standards, and economic prosperity of a country. 

How To Calculate GDP of a Country?

To calculate the GDP by country you must have knowledge of the following factors:

• Consumption:

It includes the spending on goods and services

• Investments:

This means the amount that goes out to generate more profit

• Government Purchases:

This is the spending done by the federal government

• Exports:

The value of the goods and services that are sold to the other countries.

• Import:

It is the value of the services and goods that are availed from other countries. 

GDP Formula:

Let’s see the following GDP equation:

GDP = NE + I + GP + C

Where

• NE shows the net exports of the country.
• I represent the total investments.
• GP shows the government purchases.
• C indicates the total consumption.

Net Exports = Exports – Imports

By putting the values in the above-mentioned formula for GDP you can calculate the GDP of a country, but if it looks difficult then get the assistance of an online GDP calculator. As it will let you perform the calculation precisely in a matter of seconds. 

GDP Example:

Let’s suppose the consumer spending is $6,000,000, investment is $3,000,000, government spending is $2,000,000, and net exports are $5,000,000. Now how to find the GDP?

Solution:

Given that:

Spending = C = $6,000,000

Investment = I=  $3,000,000

Government spending = GP = $2,000,000

Net exports = NE= $5,000,000

Put these values into the GDP Formula:

GDP = NE + I + GP + C

GDP = 6,000,000 + 3,000,000 + 2,000,000 + 5,000,000

GDP = 16,000,000

This gross domestic product example is enough to know how is GDP calculated manually, but if you don’t have time, then get the help of a GDP calculator. With it, you will be able to perform accurate and swift calculations. 

Top 10 Highest GDP Countries:

In the following table, we have listed the 10 countries by GDP and their GDP Per Capita:

Working of GDP Calculator:

Determine the gross domestic product of a given country by just providing a couple of simple inputs to our online calculator. Let’s see how it works!

Inputs:

• Firstly, enter the values of “consumption”, “investment”, “government purchases”, “exports”, and “imports” in the specified fields
• Set the “measuring units”
• Tap on the “calculate” button

Output:

• GDP
• Net Exports
• Step-by-step calculation

FAQ’s:

What Is The Difference Between GDP And National Income?

National income is the total amount earned by the country, while the GDP is the market value of the products and services produced within the country. 

What Are The 3 Ways To Calculate GDP?

Let’s take a look at the following 3 ways of calculating GDP:

• GDP Expenditure Approach
• Output Method 
• Income Method 

What Are The 3 Types of GDP?

There are three types of GDP that are:

Nominal GDP:

This GDP shows the value of the products and services according to the current market rate.

Actual GDP: 

This type of GDP refers to real-time, which means the condition of the economy at the current moment.

Real GDP:

It refers to the value of the services and goods according to a base price. 

Which Country Has The Highest GDP?

The United States of America (U.S.A) has the highest GDP in the whole World. To find the GDP of any country effortlessly, you can get the help of a GDP calculator. 

References:

From the source of imf.org: Measuring GDP.

From the source of Wikipedia: GDP (Gross Domestic Product).