
Economic Growth (GDP, annual variation in %)
GDP, short for Gross Domestic Product, is defined as the total market value of all final goods and services produced within a country in a given period. It includes private and public consumption, private and public investment, and exports less imports.
GDP is the most commonly used measure of economic activity and serves as a good indicator to track the economic health of a country. Economic growth (GDP growth) refers to the percent change in real GDP, which corrects the nominal GDP figure for inflation. Real GDP is therefore also referred to as inflation-adjusted GDP or GDP in constant prices.
The table below shows the percent changes in real Gross Domestic Product (GDP) per country for the last five years.
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GDP Data
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
Albania | 2.2 | 3.3 | 3.8 | 4.1 | 2.2 |
Algeria | 3.7 | 3.2 | 1.3 | 1.4 | 0.8 |
Angola | 0.9 | -2.6 | -0.1 | -2.0 | -0.9 |
Argentina | 2.7 | -2.1 | 2.7 | -2.5 | -2.2 |
Armenia | 3.2 | 0.2 | 7.5 | 5.2 | 7.6 |
Australia | 2.3 | 2.8 | 2.5 | 2.8 | 1.8 |
Austria | 1.0 | 2.1 | 2.5 | 2.4 | 1.6 |
Azerbaijan | 1.1 | -3.1 | 0.2 | 1.4 | 2.2 |
Bahrain | 2.9 | 3.5 | 3.8 | 1.8 | 2.0 |
Bangladesh | 6.6 | 7.1 | 7.3 | 7.9 | 8.2 |
Belarus | -3.8 | -2.5 | 2.5 | 3.1 | 1.2 |
Belgium | 2.0 | 1.5 | 2.0 | 1.4 | 1.4 |
Belize | 2.8 | 0.1 | 1.9 | 2.1 | -2.0 |
Bolivia | 4.9 | 4.3 | 4.2 | 4.2 | 2.2 |
Bosnia and Herzegovina | 4.1 | 3.4 | 3.2 | 3.3 | 2.6 |
Botswana | -1.7 | 4.3 | 2.9 | 4.5 | 3.0 |
Brazil | -3.5 | -3.3 | 1.3 | 1.3 | 1.1 |
Brunei | -0.6 | -2.5 | 1.3 | 0.1 | 3.9 |
Bulgaria | 4.0 | 3.8 | 3.5 | 3.1 | 3.4 |
Cambodia | 7.0 | 7.0 | 7.0 | 7.5 | 7.1 |
Canada | 0.7 | 1.0 | 3.2 | 2.0 | 1.7 |
Chile | 2.3 | 1.7 | 1.2 | 3.9 | 1.1 |
China | 7.0 | 6.8 | 6.9 | 6.7 | 6.1 |
Colombia | 3.0 | 2.1 | 1.4 | 2.5 | 3.3 |
Costa Rica | 3.6 | 4.2 | 3.9 | 2.7 | 2.1 |
Croatia | 2.4 | 3.5 | 3.1 | 2.7 | 2.9 |
Cyprus | 3.4 | 6.8 | 4.4 | 4.1 | 3.2 |
Czech Republic | 5.4 | 2.4 | 4.5 | 2.8 | 2.5 |
DR Congo | - | - | - | - | - |
Denmark | 2.3 | 3.3 | 2.0 | 2.4 | 2.4 |
Dominican Republic | 6.9 | 6.7 | 4.7 | 7.0 | 5.1 |
Ecuador | 0.1 | -1.2 | 2.4 | 1.3 | 0.1 |
Egypt | 4.4 | 4.3 | 4.2 | 5.3 | 5.6 |
El Salvador | 2.4 | 2.5 | 2.3 | 2.4 | 2.4 |
Estonia | 1.8 | 2.6 | 5.7 | 4.8 | 4.3 |
Ethiopia | 8.0 | 10.1 | 7.7 | 9.0 | - |
Eurozone | 2.0 | 1.9 | 2.7 | 1.9 | 1.2 |
Finland | 0.5 | 2.7 | 3.1 | 1.7 | 0.9 |
France | 1.0 | 1.0 | 2.4 | 1.8 | 1.5 |
Georgia | 3.0 | 2.9 | 4.8 | 4.8 | 5.1 |
Germany | 1.7 | 2.2 | 2.5 | 1.5 | 0.6 |
Ghana | 2.2 | 3.4 | 8.1 | 6.3 | 6.5 |
Greece | -0.5 | -0.3 | 1.4 | 1.9 | 1.9 |
Guatemala | 4.1 | 2.7 | 3.0 | 3.2 | 3.8 |
Haiti | 1.2 | 1.5 | 1.2 | 1.5 | - |
Honduras | 3.8 | 3.9 | 4.8 | 3.7 | 2.7 |
Hong Kong | 2.4 | 2.2 | 3.8 | 2.8 | -1.2 |
Hungary | 3.8 | 2.2 | 4.3 | 5.1 | 4.9 |
Iceland | 4.7 | 6.6 | 4.5 | 3.8 | 1.9 |
India | 8.0 | 8.3 | 7.0 | 6.1 | - |
Indonesia | 4.9 | 5.0 | 5.1 | 5.2 | 5.0 |
Iran | -1.3 | 13.4 | 3.8 | - | - |
Iraq | 2.6 | 13.8 | -3.8 | 0.9 | 4.4 |
Ireland | 25.2 | 3.7 | 8.1 | 8.2 | 5.6 |
Israel | 2.2 | 4.0 | 3.6 | 3.5 | 3.5 |
Italy | 0.7 | 1.4 | 1.7 | 0.7 | 0.3 |
Jamaica | 0.9 | 1.4 | 1.0 | 1.9 | 0.9 |
Japan | 1.2 | 0.5 | 2.2 | 0.3 | 0.7 |
Jordan | 2.6 | 2.1 | 2.1 | 1.9 | 2.0 |
Kazakhstan | 1.2 | 1.1 | 4.1 | 4.1 | 4.5 |
Kenya | 5.7 | 5.9 | 4.8 | 6.3 | 5.4 |
Korea | 2.8 | 2.9 | 3.2 | 2.9 | 2.0 |
Kosovo | 4.1 | 4.1 | 4.2 | 3.8 | 4.2 |
Kuwait | 0.6 | 2.9 | -4.7 | 1.2 | 0.4 |
Kyrgyzstan | 3.9 | 4.3 | 4.7 | 3.8 | 4.5 |
Laos | 7.3 | 7.0 | 6.9 | 6.3 | 4.8 |
Latvia | 3.3 | 1.8 | 3.8 | 4.3 | 2.2 |
Lebanon | 0.4 | 1.6 | 0.9 | -1.9 | -5.6 |
Lithuania | 2.0 | 2.6 | 4.2 | 3.6 | 3.9 |
Luxembourg | 4.3 | 4.6 | 1.8 | 3.1 | 2.3 |
Malaysia | 5.1 | 4.4 | 5.8 | 4.8 | 4.3 |
Malta | 10.9 | 5.8 | 6.5 | 7.3 | 4.7 |
Mexico | 3.3 | 2.6 | 2.1 | 2.2 | -0.3 |
Moldova | -0.3 | 4.4 | 4.7 | 4.3 | 3.6 |
Mongolia | 2.5 | 1.4 | 5.4 | 7.0 | 4.9 |
Montenegro | 3.4 | 2.9 | 4.7 | 5.1 | 3.6 |
Morocco | 4.5 | 1.1 | 4.2 | 3.1 | 2.5 |
Mozambique | 6.7 | 3.8 | 3.7 | 3.4 | 2.2 |
Myanmar | 7.0 | 5.9 | 5.8 | 6.4 | 6.8 |
Netherlands | 2.0 | 2.2 | 2.9 | 2.6 | 1.8 |
New Zealand | 3.5 | 3.9 | 3.1 | 3.2 | 2.3 |
Nicaragua | 4.8 | 4.6 | 4.6 | -4.0 | -3.9 |
Nigeria | 2.8 | -1.6 | 0.8 | 1.9 | 2.3 |
North Macedonia | 3.9 | 2.8 | 1.1 | 2.7 | 3.6 |
Norway | 2.0 | 1.1 | 2.3 | 1.3 | 1.2 |
Oman | 4.6 | 5.1 | 0.3 | 1.8 | - |
Pakistan | 4.7 | 5.5 | 5.6 | 5.8 | 1.0 |
Panama | 5.7 | 5.0 | 5.6 | 3.7 | 3.0 |
Paraguay | 3.1 | 4.3 | 5.0 | 3.4 | 0.0 |
Peru | 3.3 | 4.1 | 2.5 | 4.0 | 2.2 |
Philippines | 6.3 | 7.1 | 6.9 | 6.3 | 6.0 |
Poland | 3.8 | 3.1 | 4.9 | 5.4 | 4.2 |
Portugal | 1.8 | 2.0 | 3.5 | 2.6 | 2.2 |
Puerto Rico | -0.8 | -1.6 | -3.2 | -4.2 | 1.5 |
Qatar | 3.7 | 2.1 | 1.6 | 1.5 | -0.2 |
Romania | 3.9 | 4.8 | 7.1 | 4.4 | 4.1 |
Russia | -2.0 | 0.2 | 1.8 | 2.5 | 1.3 |
Saudi Arabia | 4.1 | 1.7 | -0.7 | 2.4 | 0.3 |
Serbia | 1.8 | 3.3 | 2.0 | 4.4 | 4.2 |
Singapore | 3.0 | 3.2 | 4.3 | 3.4 | 0.7 |
Slovakia | 4.8 | 2.1 | 3.0 | 4.0 | 2.3 |
Slovenia | 2.2 | 3.1 | 4.8 | 4.1 | 2.4 |
South Africa | 1.2 | 0.4 | 1.4 | 0.8 | 0.2 |
Spain | 3.8 | 3.0 | 2.9 | 2.4 | 2.0 |
Sri Lanka | 5.0 | 4.5 | 3.6 | 3.3 | 2.3 |
Sweden | 4.5 | 2.1 | 2.6 | 2.0 | 1.2 |
Switzerland | 1.3 | 1.7 | 1.8 | 2.8 | 1.0 |
Taiwan | 1.5 | 2.2 | 3.3 | 2.8 | 2.7 |
Tajikistan | 6.2 | 6.9 | 7.1 | 7.3 | 7.5 |
Tanzania | 6.2 | 6.9 | 6.8 | 7.0 | - |
Thailand | 3.1 | 3.4 | 4.1 | 4.2 | 2.4 |
Trinidad and Tobago | 1.8 | -6.3 | -2.3 | -0.2 | - |
Tunisia | 1.2 | 1.1 | 2.0 | 2.7 | 1.0 |
Turkey | 6.1 | 3.2 | 7.5 | 2.8 | 0.9 |
Turkmenistan | 6.5 | 6.2 | 6.5 | 6.2 | 6.3 |
USA | 2.9 | 1.6 | 2.4 | 2.9 | 2.3 |
Uganda | 6.0 | 0.6 | 7.2 | 6.0 | 5.6 |
Ukraine | -9.8 | 2.4 | 2.5 | 3.4 | 3.2 |
United Arab Emirates | 5.1 | 3.1 | 2.4 | 1.2 | 1.7 |
United Kingdom | 2.4 | 1.9 | 1.9 | 1.3 | 1.4 |
Uruguay | 0.4 | 1.7 | 2.6 | 1.6 | 0.2 |
Uzbekistan | 7.4 | 6.1 | 4.5 | 5.4 | 5.6 |
Venezuela | -6.2 | -17.0 | -15.7 | -19.6 | - |
Vietnam | 6.7 | 6.2 | 6.8 | 7.1 | 7.0 |
Yemen | -30.5 | -14.6 | -10.0 | -1.3 | - |
Zambia | 2.9 | 3.8 | 3.5 | 4.0 | - |
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GDP Economic News
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Angola: Activity falls at slower pace in the third quarter
January 21, 2021
GDP contracted at a slower rate of 5.8% year-on-year in the third quarter, above the 8.3% contraction logged in the second quarter. Sector-level data revealed that the improvement came on the back of a softer drop in the key oil sector, which accounts for roughly one third of GDP, as output fell 5.1% year-on-year (Q2: -8.2% yoy).
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Ghana: GDP falls at slower rate in the third quarter
January 21, 2021
GDP declined at a more moderate pace of 1.1% year-on-year in the third quarter, above the 3.2% contraction logged in the second quarter. The print came on the back of stronger growth in the agricultural sector (Q3: +8.3% year-on-year; Q2: +2.5% yoy), while the contractions in the industrial and services sectors softened from 5.7% and 2.6% to 5.1% and 1.1%, respectively.
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China: Economy continues to gain speed in the fourth quarter
January 18, 2021
The economy continued to recover in the fourth quarter, expanding 6.5% in annual terms (Q3: 4.9% year-on-year) and outpacing market expectations of 6.1% growth.
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