High income | 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
High income
Records
63
Source
High income | GDP (current US$)
1960 1069197896768.3
1961 1132150856599.3
1962 1222092258455.5
1963 1316051012188.7
1964 1436550565253.7
1965 1560159896845.2
1966 1711488832313.3
1967 1836230315691.6
1968 1991173819679.1
1969 2190645844017.7
1970 2399019628554.9
1971 2663395721347
1972 3090312537483.6
1973 3740188872264.3
1974 4217063891607.1
1975 4705191478675.1
1976 5127550630961.8
1977 5807869990334
1978 6962555327812.4
1979 8047464903015.5
1980 8986821327712
1981 9125111440010.1
1982 9032642362011.8
1983 9335135045025.1
1984 9736197166684.4
1985 10222452715918
1986 12419208445396
1987 14394060946710
1988 16205961615906
1989 16954908332196
1990 19038584120520
1991 20141226030673
1992 21667616559850
1993 21845057481106
1994 23425501389995
1995 26014334904341
1996 26238484750120
1997 25790805396452
1998 25887178510680
1999 27193488574950
2000 27763709846117
2001 27490207880780
2002 28660779913535
2003 32123363956700
2004 35770309886950
2005 37829846771042
2006 39961525167020
2007 43754245600209
2008 46622467342704
2009 43665289317606
2010 45764260594016
2011 49420915501762
2012 49446936532750
2013 50053500714034
2014 51135722778258
2015 48269197364266
2016 49296300074775
2017 51568259173073
2018 54836830985504
2019 55313082529074
2020 53947360960779
2021 60197703636296
2022 61667467133645

High income | 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
High income
Records
63
Source