Economic growth rate

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Economic growth rate

Economic Growth Rate

The change in a nation's GDP from one period of time (usually a year) to the next. The economic growth rate shows by how much GDP has grown or shrunk in raw dollar amounts. It is considered one of the most important measures of how well or poorly an economy is performing. It is calculated thusly:

Economic growth rate = (GDPyear 2 - GDPyear 1) / GDPyear 1 * 100

The economic growth rate does not adjust for inflation; therefore, the real economic growth rate is sometimes considered more accurate. One may use GNP instead of GDP in calculating the economic growth rate, but this is rare.
References in periodicals archive ?
He said the economic growth rates reached 6 or 7 percent before 2010, but such rate was not fair for all the categories of the Egyptian people.
A confirmation of this is the World Bank report saying that the Republic of Macedonia and Montenegro have the highest economic growth rates in the region, said Finance Minister Zoran Stavreski.
The economic growth rates of industrialized states which possess around 51 percent of global oil consumption edged down from 1.
has warned that African economies will not sustain the current high economic growth rates driven by consumption of goods and services, which has partly lowered the manufacturing capacity.
Akeel attributed this to the high economic growth rates achieved by the Kingdom, which are by far faster than the global rates, stressing that Saudi Arabia is growing as a result of the ecosystem stability, increased economic activity rates, and high domestic and foreign investment.
Rising prices of energy resources in Armenia may affect the economic growth rates, Finance Minister of Armenia
In his provocative book How Asia Works, Joe Studwell dissects the region's history to show how heady economic growth rates masked the most divided continent in the world--one half the most extraordinary developmental success story ever seen, the other half a 'paper tiger'.
The coexistence of higher economic growth rates and a lower C/A deficit shows that the consumption and investment needs of the Romanian economy have started to be covered more by internal production.
General measures to prevent economic slowdown, negative climatic and natural conditions for agricultural sector, significant reduction of production volume at Kumtor mine allowed to prevent deep economic crisis, however, it was impossible to slow down economic growth rates.
However, restoration of economic growth rates which were prevalent before the crisis will take some time.
It can be attributed, in large part, to the fact that economic growth rates in emerging markets have far outpaced the anemic growth rates we've seen in developed markets.
Radwan warned that the continuing labour strikes are increasing pressure on the state budget and economic growth rates.

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