An Introduction to GDP

A brief look at GDP courtesy of the IMF - but be careful! Whilst this is only an introduction, there are one or two oversights

Good students might spot them, but for the novices, I don't think that there's enough stress on GDP only being 'newly produced' 'final' goods and services. The sale of a second hand car doesn't add the sales value of the car to GDP, however, if the dealer has 'added' value in some way, perhaps by servicing the car, then this would be included.  

Forecast growth for GDP in 2017 (Source: IMF)

• India: 7%
• China: 6.7%
• Indonesia: 5.2%
• Turkey: 3.4%
• US: 2.2%
• Germany: 1.8%
• UK: 1.6%
• France: 1.5%
• Russia: 1.4%
• Brazil: 0.6%