West Bank and Gaza GDP

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.

This chart displays Economic Growth (GDP, ann. var. %) for Major Economies, Euro Area, South Asia, Middle East & North Africa, Latin America from 2010 to 2023.

Economic Growth (GDP, annual variation in %) Data

2018 2019 2020 2021 2022
Afghanistan 1.2 3.9 -2.4 -20.7 -
Albania 4.0 2.1 -3.3 8.9 4.9
Algeria 1.2 1.0 -5.1 3.4 3.2
Andorra 1.6 2.0 -11.2 8.3 8.8
Angola -1.3 -0.7 -5.6 1.2 3.0
Antigua and Barbuda 6.9 4.9 -20.2 1.8 8.3
Argentina -2.6 -2.0 -9.9 10.7 5.0
Armenia 5.2 7.7 -7.2 5.8 12.6
Aruba 2.4 -2.3 -24.0 27.6 -
Australia 2.8 1.8 -2.1 5.6 3.8
Austria 2.4 1.5 -6.7 4.4 4.8
Azerbaijan 1.4 2.5 -4.2 5.6 4.6
Bahamas, The 2.9 -0.8 -23.5 17.0 14.4
Bahrain 2.3 2.2 -4.6 2.6 4.9
Bangladesh 7.3 7.9 3.4 6.9 7.1
Barbados 2.6 4.7 -10.9 3.5 18.1
Belarus 3.1 1.4 -0.7 2.4 -4.7
Belgium 1.8 2.2 -5.3 6.9 3.0
Belize 1.1 4.2 -13.7 17.9 8.7
Benin 6.7 6.9 3.8 7.2 6.3
Bhutan -2.0 4.1 - - -
Bolivia 4.2 2.2 -8.7 6.1 3.6
Bosnia-Herz. 4.6 2.3 -2.9 7.3 3.8
Botswana 4.2 3.0 -8.7 11.9 5.5
Brazil 1.8 1.2 -3.3 4.8 3.0
Brunei 0.1 3.9 1.1 -1.6 -1.6
Bulgaria 2.6 4.0 -4.0 7.7 3.9
Burkina Faso 6.6 5.7 1.9 6.9 -
Burundi 1.6 1.8 0.3 3.1 1.8
Cabo Verde 3.7 6.9 -20.8 5.6 17.1
Cambodia 7.5 7.1 -3.1 3.0 5.3
Cameroon 4.0 3.5 0.3 3.5 3.4
Canada 2.7 1.9 -5.0 5.3 3.8
CdI 4.8 6.7 0.9 7.4 6.7
Central African Republic 3.8 3.0 1.0 1.0 -
Chad 2.4 3.4 -2.1 -1.2 -
Chile 4.0 0.7 -6.1 11.7 2.4
China 6.7 6.0 2.2 8.4 3.0
Colombia 2.6 3.2 -7.2 10.8 7.3
Comoros 3.6 1.8 -0.2 2.1 -
Congo 4.8 4.5 1.7 - -
Costa Rica 2.6 2.4 -4.3 7.9 4.6
Croatia 2.8 3.4 -8.6 13.8 6.3
Cuba 2.2 -0.2 -10.9 1.3 1.8
Cyprus 5.6 5.5 -3.4 9.9 5.1
Czech Republic 3.2 3.0 -5.5 3.5 2.4
Denmark 2.0 1.5 -2.4 6.8 2.7
Djibouti 4.8 5.5 1.3 4.5 3.2
Dominica 3.5 5.5 -16.6 6.9 5.6
Dominican Republic 7.0 5.1 -6.7 12.3 4.9
DR Congo 5.8 4.4 1.7 6.2 8.9
Ecuador 1.0 0.2 -9.2 9.8 6.2
Egypt 5.3 5.5 3.6 3.3 6.7
El Salvador 2.4 2.4 -7.9 11.2 2.6
Equatorial Guinea -6.2 -5.5 -4.8 -0.4 -
Eritrea 13.0 3.8 -0.5 2.9 2.6
Estonia 3.8 4.0 -1.0 7.2 -0.5
Ethiopia 8.3 6.1 5.6 5.3 -
Euro Area 1.8 1.6 -6.2 5.9 3.4
Fiji 3.8 -0.6 -17.0 -4.9 20.0
Finland 1.1 1.2 -2.4 2.8 1.6
France 1.8 1.9 -7.7 6.4 2.5
Gabon 0.9 3.8 -1.8 1.5 -
Gambia, The 7.2 6.2 0.6 5.3 -
Georgia 4.9 5.0 -6.7 10.5 10.4
Germany 1.0 1.1 -3.8 3.2 1.8
Ghana 6.2 6.5 0.5 5.1 3.1
Greece 1.6 1.8 -9.0 8.1 5.7
Grenada 4.3 0.7 -13.8 4.7 -
Guatemala 3.4 4.0 -1.8 8.0 4.1
Guinea 6.4 5.6 4.7 5.0 -
Guinea-Bissau 3.8 5.5 1.5 6.1 4.2
Guyana 4.4 5.4 43.5 20.1 -
Haiti 1.7 -1.7 -3.3 -1.8 -1.7
Honduras 3.8 2.7 -9.0 12.5 4.0
Hong Kong 2.8 -1.7 -6.5 6.4 -3.5
Hungary 5.4 4.9 -4.5 7.1 4.6
Iceland 4.9 1.9 -7.2 4.5 7.2
India 6.5 3.9 -5.8 9.1 7.2
Indonesia 5.2 5.0 -2.1 3.7 5.3
Iran -1.8 -3.1 3.3 4.7 3.8
Iraq 2.6 5.5 -12.0 1.6 7.0
Ireland 8.5 5.3 6.6 15.1 9.4
Israel 4.2 3.8 -1.4 9.3 6.4
Italy 0.8 0.5 -9.0 8.3 3.9
Jamaica 1.8 1.0 -9.9 4.6 5.2
Japan 0.6 -0.4 -4.1 2.6 1.0
Jordan 1.9 1.8 -1.1 3.7 2.4
Kazakhstan 4.1 4.5 -2.5 4.3 3.3
Kenya 5.6 5.1 -0.3 7.6 4.8
Kiribati 5.1 -2.2 -1.7 7.9 -
Korea 2.9 2.2 -0.7 4.3 2.6
Kosovo 3.4 4.8 -5.3 10.7 4.3
Kuwait 2.4 -0.6 -8.9 7.7 6.1
Kyrgyzstan 3.8 4.6 -8.4 3.6 7.0
Laos 6.2 5.5 0.5 2.5 2.7
Latvia 4.0 0.6 -3.5 6.7 3.4
Lebanon -1.9 -6.9 -21.4 -7.0 -
Lesotho -1.3 -2.0 -3.9 1.8 -
Liberia 1.2 -2.5 -3.0 5.0 -
Libya 7.9 -11.2 -29.5 28.3 -
Lithuania 4.0 4.6 0.1 6.2 2.5
Luxembourg 1.2 2.3 -0.8 7.7 1.4
Macao 6.5 -2.5 -54.2 19.3 -26.8
Madagascar 3.2 4.4 -7.1 5.7 4.0
Malawi 4.4 5.4 0.9 4.6 0.8
Malaysia 4.8 4.4 -5.5 3.3 8.7
Maldives 8.1 6.9 -33.4 41.7 13.9
Mali 4.7 4.8 -1.2 3.1 3.7
Malta 7.4 7.1 -8.1 12.6 8.2
Marshall Islands 5.7 10.2 -2.7 0.9 -4.5
Mauritania 4.8 5.4 -0.9 2.4 -
Mauritius 4.0 2.9 -14.5 3.4 8.9
Mexico 2.0 -0.3 -8.6 5.7 3.9
Micronesia, Federated States of 1.0 1.9 -3.3 -2.3 -0.2
Moldova 4.1 3.6 -8.3 13.9 -5.9
Mongolia 7.7 5.6 -4.6 1.6 5.0
Montenegro 5.1 4.1 -15.3 13.0 6.4
Morocco 3.1 2.9 -7.2 8.0 1.3
Mozambique 3.4 2.3 -1.2 2.4 4.2
Myanmar 6.3 6.6 -9.0 -12.0 4.0
Namibia 1.1 -0.8 -8.1 3.5 4.6
Nauru -5.5 5.7 1.0 0.7 0.3
Nepal 7.6 6.7 -2.4 4.8 5.6
Netherlands 2.4 2.0 -3.9 6.2 4.3
New Zealand 3.5 3.1 -1.4 5.6 2.4
Nicaragua -3.4 -2.9 -1.8 10.3 3.8
Niger 7.0 6.1 3.5 1.4 -
Nigeria 1.9 2.3 -1.9 3.4 3.1
North Macedonia 2.9 3.9 -4.7 4.5 2.2
Norway 1.2 1.1 -1.8 4.0 3.0
Oman 1.3 -1.1 -3.4 2.6 9.6
Pakistan 6.2 2.5 -1.3 6.5 4.8
Palau 1.4 0.2 -7.5 -13.7 -
Panama 3.7 3.3 -17.7 15.8 10.8
Papua New Guinea -0.3 4.5 -3.2 -0.8 5.2
Paraguay 3.2 -0.4 -0.8 4.0 0.2
Peru 4.0 2.2 -10.9 13.4 2.7
Philippines 6.3 6.1 -9.5 5.7 7.6
Poland 6.0 4.5 -2.0 6.9 5.3
Portugal 2.8 2.7 -8.3 5.7 6.8
Puerto Rico -4.4 1.7 -4.2 0.4 3.2
Qatar 1.2 0.7 -3.6 1.6 4.2
Romania 6.0 3.9 -3.7 5.7 4.6
Russia 2.8 2.2 -2.7 5.6 -2.1
Rwanda 8.5 9.5 -3.4 10.9 8.2
Saint Kitts and Nevis 2.0 4.1 -14.6 -0.9 8.8
Saint Lucia 2.8 -0.2 -23.6 11.3 15.7
Saint Vincent and the Grenadines 3.1 0.4 -5.3 0.5 2.6
Samoa -0.6 4.5 -3.1 -7.1 -5.3
San Marino 1.5 2.0 -6.8 14.2 -
Sao Tome and Principe 4.4 2.0 2.6 - -
Saudi Arabia 2.8 0.8 -4.3 4.3 8.7
Senegal 6.6 4.3 1.5 6.6 2.5
Serbia 4.5 4.3 -0.9 7.7 2.5
Seychelles 6.2 5.2 -8.5 2.5 -
Sierra Leone 3.5 5.3 -2.0 4.1 -
Singapore 3.5 1.3 -3.9 9.7 3.8
Slovakia 4.0 2.5 -3.3 4.8 1.8
Slovenia 4.5 3.5 -4.2 8.2 2.5
Solomon Islands 2.7 1.7 -3.4 -0.6 -4.1
Somalia 3.0 3.6 -2.6 3.3 2.4
South Africa 1.6 0.3 -6.0 4.7 1.9
South Sudan -2.1 0.9 -6.5 5.3 -
Spain 2.3 2.0 -11.2 6.4 5.8
Sri Lanka 2.3 -0.2 -4.6 3.5 -7.8
Sudan 2.8 -1.4 -1.6 -1.9 -
Suriname 4.9 1.2 -16.0 -2.4 2.4
Swaziland 4,289,359,368 4,404,836,143 4,336,136,436 4,799,380,522 4,822,246,928
Sweden 2.0 2.0 -2.3 5.9 3.0
Switzerland 2.9 1.2 -2.3 5.4 2.7
Taiwan 2.8 3.1 3.4 6.6 2.6
Tajikistan 7.6 7.4 4.4 9.4 8.0
Tanzania 7.0 7.0 4.8 4.9 4.7
Thailand 4.2 2.1 -6.1 1.6 2.5
Timor-Leste -0.7 23.4 32.0 5.3 -20.5
Togo 4.8 4.9 2.0 6.0 5.8
Tonga 0.2 0.7 0.5 -2.6 -2.0
Trinidad and Tobago -1.3 0.7 -9.6 -1.6 3.4
Tunisia 2.6 1.6 -8.6 4.6 2.6
Turkey 3.0 0.8 1.9 11.4 5.5
Turkmenistan 0.9 -3.4 -2.9 4.6 1.6
Tuvalu 1.8 13.8 -4.5 3.2 -
UAE 1.3 1.1 -5.0 4.4 7.9
Uganda 5.6 7.6 -1.1 5.5 6.3
Ukraine 3.5 3.2 -3.8 3.5 -29.1
United Kingdom 1.4 1.6 -10.4 8.7 4.3
United States 3.0 2.5 -2.2 5.8 1.9
Uruguay 0.2 0.7 -6.3 5.3 4.9
Uzbekistan 5.5 6.0 2.0 7.4 5.7
Vanuatu 2.9 3.2 -5.0 - -
Venezuela -19.6 -27.7 -30.0 0.5 11.8
Vietnam 7.5 7.4 2.9 2.6 8.0
West Bank and Gaza 1.2 1.4 -11.3 7.0 4.1
Yemen -0.8 1.4 1.2 -1.0 2.0
Zambia 3.7 1.8 -2.8 4.6 4.7
Zimbabwe 5.0 -6.3 -7.8 8.5 6.5

Free Sample Report

Interested in Economic Growth (GDP, annual variation in %)? FocusEconomics provides data, forecasts and analysis for hundreds of countries and commodities. Request your free sample report now.

Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest