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Economy > Economic growth > Evolution of GDP > Real GDP growth per million: 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. Figures expressed per million population for the same year.

CONTENTS

# COUNTRY AMOUNT DATE GRAPH
1 Iceland 14.58% 1993
2 Luxembourg 13.08% 1993
3 Slovakia 1.96% 1993
4 Ireland 1.69% 1993
High income OECD countries average (profile) 1.4% 1993
5 Finland 0.892% 1993
6 New Zealand 0.831% 1993
7 Norway 0.727% 1993
8 Czech Republic 0.576% 1993
9 Switzerland 0.479% 1993
10 Austria 0.388% 1993
11 Greece 0.386% 1993
12 Denmark 0.317% 1993
13 Sweden 0.292% 1993
14 Belgium 0.273% 1993
15 Australia 0.251% 1993
16 Netherlands 0.226% 1993
17 Portugal 0.193% 1993
18 Poland 0.173% 1993
19 South Korea 0.113% 1993
20 Hungary 0.104% 1993
21 Canada 0.0941% 1993
22 Spain 0.0935% 1993
23 Turkey 0.0785% 1993
24 United Kingdom 0.0524% 1993
Group of 7 countries (G7) average (profile) 0.0377% 1993
25 France 0.0368% 1993
26 Mexico 0.0349% 1993
27 Germany 0.0303% 1993
28 Italy 0.0256% 1993
29 Japan 0.0167% 1993
30 United States 0.00778% 1993

Citation

"Countries Compared by Economy > Economic growth > Evolution of GDP > Real GDP growth per million. International Statistics at NationMaster.com", OECD Country statistical profiles 2009. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database. Aggregates compiled by NationMaster. Retrieved from http://www.nationmaster.com/country-info/stats/Economy/Economic-growth/Evolution-of-GDP/Real-GDP-growth-per-million

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

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