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Economy > Economic growth > Evolution of GDP > Real GDP growth: Countries Compared

DEFINITION: In order to calculate the growth rate of GDP free of the direct effects of inflation, data at fixed, or constant, prices should be used. Price relativities change over time, and the 1993 System of National Accounts recommends that the fixed prices used should be representative of the periods for which the growth rates are calculated, which means that new fixed prices should be introduced frequently, typically every year. The growth rates of GDP between successive periods are linked together to form chain volume indices. All OECD countries derive their "volume" estimates in this way, except for Korea, and Mexico.. These two like many non-OECD countries, only revise their fixed weights every five or ten years. Such practices tend to lead to biased growth rates, usually upward.

The growth rates for OECD total are averages of the growth rates of individual countries weighted by the relative size of each country’s GDP in US dollars. Conversion to US dollars is done using purchasing power parities so that each country is weighted by the relative size of its real GDP.

CONTENTS

# COUNTRY AMOUNT DATE GRAPH
1 Slovakia 10.42% 1993
2 Poland 6.65% 1993
3 Ireland 6.03% 1993
4 Czech Republic 5.95% 1993
5 Luxembourg 5.2% 1993
6 South Korea 4.97% 1993
7 Finland 4.52% 1993
8 Turkey 4.45% 1993
9 Australia 4.44% 1993
10 Greece 4.04% 1993
11 Iceland 3.84% 1993
High income OECD countries average (profile) 3.72% 1993
12 Spain 3.66% 1993
13 Netherlands 3.46% 1993
14 Switzerland 3.33% 1993
15 Mexico 3.2% 1993
16 Norway 3.13% 1993
17 Austria 3.07% 1993
18 United Kingdom 3.03% 1993
19 New Zealand 2.97% 1993
20 Belgium 2.76% 1993
21 Canada 2.71% 1993
22 Sweden 2.54% 1993
23 Germany 2.46% 1993
Group of 7 countries (G7) average (profile) 2.28% 1993
24 France 2.17% 1993
25 Japan 2.08% 1993
26 United States 2.02% 1993
27 Portugal 1.93% 1993
28 Denmark 1.65% 1993
29 Italy 1.46% 1993
30 Hungary 1.07% 1993

Citation

"Countries Compared by Economy > Economic growth > Evolution of GDP > Real GDP growth. International Statistics at NationMaster.com", OECD Country statistical profiles 2009. Aggregates compiled by NationMaster. Retrieved from http://www.nationmaster.com/country-info/stats/Economy/Economic-growth/Evolution-of-GDP/Real-GDP-growth

Economy > Economic growth > Evolution of GDP > Real GDP growth: Countries Compared Map

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