Nominal GDP

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Nominal GDP

Gross domestic product without or before accounting for inflation. Comparing nominal GDPs from year to year shows the amount an economy has grown or shrunk in dollar amounts, but does not show how the buying power of those dollars has been affected. Real GDP accounts for inflation. For example, if the nominal GDP has grown 10% and the inflation rate is 3%, the real GDP growth is 7%.
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References in periodicals archive ?
"Key drivers were generally high savings rates and continued strong nominal gross domestic product (GDP) growth in oil-rich countries, such as Saudi Arabia (13.4pc), Kuwait (13.6pc), and the UAE (12.8pc)."
Concurrent with the rising equity valuations, nominal gross domestic product is expected to increase by 4.6 percent, up from 3.2 percent in 2013.
While an overall fiscal surplus again seems assured in 2013, it is poised to narrow in 2014, it cautioned, estimating that fiscal surplus to be 6.1% of nominal gross domestic product in 2013 and 3.8% in 2014.
"But I am not sure if this is absolute success given the size of the Turkish economy and the country's population." Israel, for example, with one-third of Turkey's nominal gross domestic product and about one-tenth of its population, has four defense companies in the top 100 list.
Thus, the nominal gross domestic product for 2014 is forecast at the level of 401 billion soms with a real growth of 6.9%.
| TOKYO, June 14 (KUNA) -- Japanese Prime Minister Shinzo Abe's Cabinet approved on Friday its growth strategy, targeting a 3-percent annual expansion of nominal Gross domestic product (GDP) and restarts of nuclear power plants.
Yemen's nominal gross domestic product grew 4.8 percent to 7.0 trillion Yemen riyals ($32.2 billion) in 2012, the data also showed.
The Japanese government has pledged to halve the deficit as a percentage of nominal gross domestic product by fiscal 2015 from the fiscal 2010 level and achieve a primary budget surplus for central and local governments in fiscal 2020.
Whatever replaces inflation targeting (and the current favourite is Nominal Gross Domestic Product) is, in my view, highly likely to work for a considerable time.
The 16 countries involved in the RCEP negotiations have a combined nominal gross domestic product of about $19 trillion, or about 30 percent of the world's GDP.
Tokyo has pledged to achieve a primary budget surplus for central and local governments in fiscal 2020 after halving the deficit as a percentage of nominal gross domestic product in fiscal 2015 from the fiscal 2010 level.
Libyan economy in perspective 2009 2010 2011 DOMESTIC ECONOMY Nominal Gross Domestic Product (GDP) at market prices ($ billions) 63.6 73.6 35.7 Real GDP Growth (annual % chg) -0.8 3.8 -60.0 of which: Non-Hydrocarbons GDP 5.1 4.4 -63.1 Oil Production (mn b/pd) 1.62 1.69 0.49 Oil GDP (annual % chg) -7.1 3.0 -56.2 Consumer Price Inflation (year average) 2.0 2.5 15.9 Fiscal Deficit (% of GDP) -2.2 16.2 -27.0 Official Exchange Rate (LD:$1) period avg 1.25 1.27 1.22 Gross Capital Formation (% of GDP) 36.0 38.5 20.0 Gross National Savings (% of GDP) 50.7 58.3 21.3 External Sector, ($ billions) Exports 37.1 46.8 13.0 of which: Hydrocarbons 35.7 45.4 12.7 Imports 22.0 24.6 11.2 Import-coverage (months) 39.0 79.0 28.3 Current Account Balance 9.4 14.6 0.5 As (%) of GDP 14.7 19.8 1.3 Est.