Real GDP Per Capita Growth Rate Calculator
The Real GDP Per Capita Growth Rate measures the percentage change in the real gross domestic product per person in an economy over a specific period. This metric is crucial for understanding the improvement in living standards and economic well-being of the average citizen. It adjusts for inflation and population changes, providing a more accurate picture of economic progress than nominal GDP growth alone.
To calculate the real GDP per capita growth rate, we first need to determine the real GDP per capita for two different periods. Real GDP per capita is calculated by dividing the real Gross Domestic Product (GDP) by the total population of a country.
The formula for the growth rate is:
Growth Rate (%) = [ (Real GDP Per Capita Year 2 – Real GDP Per Capita Year 1) / Real GDP Per Capita Year 1 ] * 100
function calculateGrowthRate() {
var realGdpYear1 = parseFloat(document.getElementById("realGdpYear1").value);
var populationYear1 = parseFloat(document.getElementById("populationYear1").value);
var realGdpYear2 = parseFloat(document.getElementById("realGdpYear2").value);
var populationYear2 = parseFloat(document.getElementById("populationYear2").value);
var resultDiv = document.getElementById("result");
resultDiv.innerHTML = ""; // Clear previous results
if (isNaN(realGdpYear1) || isNaN(populationYear1) || isNaN(realGdpYear2) || isNaN(populationYear2)) {
resultDiv.innerHTML = "Please enter valid numbers for all fields.";
return;
}
if (populationYear1 <= 0 || populationYear2 <= 0) {
resultDiv.innerHTML = "Population must be greater than zero.";
return;
}
var realGdpPerCapitaYear1 = realGdpYear1 / populationYear1;
var realGdpPerCapitaYear2 = realGdpYear2 / populationYear2;
if (realGdpPerCapitaYear1 === 0) {
resultDiv.innerHTML = "Real GDP Per Capita for Year 1 cannot be zero for growth rate calculation.";
return;
}
var growthRate = ((realGdpPerCapitaYear2 – realGdpPerCapitaYear1) / realGdpPerCapitaYear1) * 100;
resultDiv.innerHTML =
"Real GDP Per Capita (Year 1): " + realGdpPerCapitaYear1.toLocaleString(undefined, { minimumFractionDigits: 2, maximumFractionDigits: 2 }) + "" +
"Real GDP Per Capita (Year 2): " + realGdpPerCapitaYear2.toLocaleString(undefined, { minimumFractionDigits: 2, maximumFractionDigits: 2 }) + "" +
"
Real GDP Per Capita Growth Rate: " + growthRate.toLocaleString(undefined, { minimumFractionDigits: 2, maximumFractionDigits: 2 }) + "%";
}
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