Lower middle 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
Lower middle income
Records
63
Source
Lower middle income | GDP (current US$)
1960 88053021489.118
1961 93212358127.169
1962 94672762190.676
1963 105240694239.81
1964 118195775046.42
1965 127438148871.2
1966 117110879145.82
1967 125204727481.12
1968 133817854435.89
1969 148467779997.68
1970 164142405816.01
1971 173330985944.35
1972 187947439455.42
1973 229149534328.27
1974 300323775420.46
1975 331387675465.6
1976 365319354343.58
1977 416388468757.85
1978 459139973438.43
1979 537960364564.2
1980 642109243373.65
1981 774657940569.44
1982 795792603863.16
1983 794874058175.63
1984 778978246242.94
1985 835565991407.66
1986 900871408689.8
1987 884278445847.69
1988 895045529550.56
1989 881105688310.57
1990 944173906354.81
1991 887480485838.62
1992 918834825591.49
1993 921358929713.12
1994 1001071230831.3
1995 1177953044123.6
1996 1340432344565.9
1997 1396543994766.3
1998 1413627722439.9
1999 1312209465423.1
2000 1377689290058.8
2001 1414796686586.8
2002 1489796027234
2003 1703311379683.2
2004 1987707039182.2
2005 2315096942200.2
2006 2718604742250.1
2007 3355447329844.2
2008 3782293203145
2009 3812693386838.1
2010 4566635008993.3
2011 5212391795444.3
2012 5492168076119
2013 5604827492999.4
2014 5896070873618.9
2015 5746408702559.7
2016 6004441275215.2
2017 6457236621675.6
2018 6612134450127
2019 6884143285710.1
2020 6618962128023
2021 7595602780154.1
2022 8171521483867.6

Lower middle 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
Lower middle income
Records
63
Source