GDP Calculator
Calculate Gross Domestic Product (GDP) using different economic approaches. Analyze economic output, growth rates, and per capita GDP for countries and regions.
GDP Calculation Method
Expenditure Components (C + I + G + (X - M))
Currency & Units
GDP Results
Expenditure Breakdown:
Quick Examples
How to Use the GDP Calculator
To calculate GDP using different approaches:
- Select your preferred calculation method from the dropdown
- Enter the required economic data for your chosen approach
- Choose the appropriate currency and units
- View the calculated GDP and detailed breakdown
- Analyze economic indicators and health metrics
- Use quick examples to understand different scenarios
GDP Calculation Methods
1. Expenditure Approach
Formula: GDP = C + I + G + (X - M)
- C: Consumer spending on goods and services
- I: Business investment in capital goods
- G: Government spending on goods and services
- X: Exports of goods and services
- M: Imports of goods and services
2. Income Approach
Sums all incomes earned in the economy:
- Wages and salaries
- Corporate profits
- Interest and rent payments
- Depreciation
- Indirect taxes
3. Production Approach
Sums the value added by each sector:
- Agriculture, forestry, and fishing
- Manufacturing and industry
- Services sector
- Construction
- Government services
Example Calculation
Expenditure Approach Example:
For a hypothetical economy:
- Consumer Spending (C): $12 trillion
- Investment (I): $3 trillion
- Government Spending (G): $4 trillion
- Exports (X): $2 trillion
- Imports (M): $2.5 trillion
GDP = $12T + $3T + $4T + ($2T - $2.5T) = $18.5 trillion
Frequently Asked Questions
What is GDP and why is it important?
GDP (Gross Domestic Product) measures the total value of all goods and services produced within a country. It's a key indicator of economic health and standard of living.
Which calculation method should I use?
All three methods should theoretically yield the same result. Choose based on available data: expenditure for demand-side analysis, income for distribution analysis, or production for sector analysis.
What's the difference between nominal and real GDP?
Nominal GDP uses current prices, while real GDP adjusts for inflation. This calculator shows nominal GDP - for real GDP, you'd need to adjust for price level changes.