Africa Western and Central | GDP (current US$)

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Limitations and exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Africa Western and Central
Records
63
Source
Africa Western and Central | GDP (current US$)
1960 10411646287.306
1961 11135924727.941
1962 11951712282.043
1963 12685805889.894
1964 13848998668.618
1965 14874755833.538
1966 15845575303.222
1967 14428492961.855
1968 14880501861.118
1969 16882284662.366
1970 23504960311.923
1971 20843326170.63
1972 25269456358.529
1973 31841146881.857
1974 44215328355.869
1975 51445309626.48
1976 62129985410.066
1977 65316034540.712
1978 71200526845.375
1979 88629333635.716
1980 112032331232.33
1981 211005911802.92
1982 187165406370.03
1983 138116898441.3
1984 114263904328.18
1985 116508527443.66
1986 107507001440.38
1987 110281682790.5
1988 108944735237.17
1989 101770140749.66
1990 121803568895.99
1991 127939039832.69
1992 122575953686.49
1993 127980941949.7
1994 133143476720.14
1995 205687093879.59
1996 261262106172.31
1997 274376968923.5
1998 294949797405.74
1999 137292485423.69
2000 140132777859.08
2001 147524718751.25
2002 176588559103.84
2003 204455023741.49
2004 253453654650.34
2005 310070743908.93
2006 396077046021.05
2007 465627259599.13
2008 567853448132.05
2009 508492534468.29
2010 598607469639.53
2011 682176065823.11
2012 737739503299.73
2013 834097010134.99
2014 894505003403.49
2015 769263195356.95
2016 692114931613.25
2017 685630289666.52
2018 768158194632.4
2019 823405580187.91
2020 786962436538.39
2021 844927536437.83
2022 875393693658.08

Africa Western and Central | GDP (current US$)

GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Limitations and exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money. Statistical concept and methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.
Publisher
The World Bank
Origin
Africa Western and Central
Records
63
Source