What Is GDP? How The GDP Calculated? What is The GDP data Source?

 What Is GDP?

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GDP Gross Domestic Product Is All The Goods And Services Monetary Value That Is Produced In The Geographical Area Of A Country In A Specific Time Such As In A Year. The GDP Is The Indicator Of The Economic Health Of The Country. 

In Every Country, The GDP Gross Domestic Product Is Measured On Annual Basis. But Sometimes It Is Calculated Quarterly Basis. In India, It Is Measured From 1st April To 31st March Financial Year In Every Year. But The Data Release Quarterly in every three month.

How The GDP Calculated?

The calculation of the countries GDP Includes every sector private or government, industries, farming, everything's monetary value that is produced. in the countries geographical location.

The calculation process of India's GDP Gross Domestic Product is the responsibility of the CSO Central Statistical Office. This CSO Central Statistical Office is work under the MOSPI Ministry Of Statistical And Program Implementation. CSO Collects the data of the country's agencies and industries and from all the sectors that produce goods in the country to calculate the GDP of India. When the process of collecting all the financial information completed then the GDP calculating process starts.

The Factors To Calculate The GDP

First of all, Expenditure on the goods at market price is measured,

Measuring all the economic activity,

Measuring all the goods market price and Controlling the inflation in market.

After The GDP Calculation all the above factor's indicate how the countries industries performing in the country. Expenditure indicate which area works better in Economy.

What is The GDP data source?

Countries GDP's data is collected from following source. Mining and quarrying, Agriculture, Private and Public services, Forestry and Fishing, Trade, Construction And Communication, Electricity and Gas Supply, Manufacturing, Transport, Real Estate.

GDP Is used to measure the Economy Of The Country. In GDP, Total Goods And Service's final Monetary value are added. In other words, The final Monetary value of Goods And Services are Counted to measure GDP Gross Domestic Product.

Top Countries In Highest GDP.

1.United States:        21.44 Trillion GDP

2.China:                    14.14 Trillion GDP

3.Japan:                    5.15 Trillion GDP

4.Germany:              3.86 Trillion GDP

5.India:                     2.94 Trillion GDP

6.United Kingdom: 2.83 Trillion GDP

7.France:                  2.71 Trillion GDP

8.Italy:                      1.99 Trillion GDP

9.Brazil:                    1.85 Trillion GDP

10.Canada:                1.73 Trillion GDP

11.Russia:                  1.64 Trillion GDP

12.South Korea:        1.63 Trillion GDP

13.Spain:                    1.4 Trillion GDP

14.Austrailia:             1.38 Trillion GDP

15.Mexico:                  1.22 Trillion GDP

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