GDP Growth Rate Calculator
This calculator helps you determine the percentage change in a country's Gross Domestic Product (GDP) over a specific period. GDP is the total monetary value of all the finished goods and services produced within a country's borders in a specific time period. GDP growth rate is a key indicator of a country's economic health and performance.
How to Calculate GDP Growth Rate
The formula to calculate the GDP growth rate is as follows:
GDP Growth Rate = [ (Current Period GDP – Previous Period GDP) / Previous Period GDP ] * 100
Where:
- Current Period GDP: The total value of goods and services produced in the most recent period.
- Previous Period GDP: The total value of goods and services produced in the preceding period.
A positive GDP growth rate indicates that the economy is expanding, while a negative rate suggests a contraction or recession.
Example Calculation:
Let's say a country's GDP in the last quarter was $19,500,000,000,000 and in the current quarter it is $20,000,000,000,000.
- Subtract the previous GDP from the current GDP: $20,000,000,000,000 – $19,500,000,000,000 = $500,000,000,000
- Divide the difference by the previous GDP: $500,000,000,000 / $19,500,000,000,000 ≈ 0.0256
- Multiply the result by 100 to express it as a percentage: 0.0256 * 100 = 2.56%
Therefore, the GDP growth rate for this country in this period is approximately 2.56%.
function calculateGdpGrowthRate() {
var currentGdp = parseFloat(document.getElementById("currentGdp").value);
var previousGdp = parseFloat(document.getElementById("previousGdp").value);
var resultDiv = document.getElementById("result");
if (isNaN(currentGdp) || isNaN(previousGdp)) {
resultDiv.innerHTML = "Please enter valid numbers for both GDP values.";
return;
}
if (previousGdp === 0) {
resultDiv.innerHTML = "Previous Period GDP cannot be zero.";
return;
}
var growthRate = ((currentGdp – previousGdp) / previousGdp) * 100;
resultDiv.innerHTML =
"
GDP Growth Rate: " + growthRate.toFixed(2) + "%";
}
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