This calculator helps you determine the percentage change in a country's Gross Domestic Product (GDP) from one period to another. GDP is the total monetary value of all the finished goods and services produced within a country's borders in a specific time period. The GDP growth rate is a key indicator of economic health and performance.
Understanding GDP Growth Rate
The GDP growth rate measures how much a nation's economy has expanded or contracted over a specific period, typically a quarter or a year. It's calculated by comparing the GDP of the current period to the GDP of a previous period. A positive growth rate signifies economic expansion, while a negative rate indicates a contraction or recession.
Formula:
The formula used to calculate the GDP growth rate is:
GDP Growth Rate = [(Current Period GDP - Previous Period GDP) / Previous Period GDP] * 100
Example:
Let's say a country's GDP in the most recent quarter was $20 trillion (Current Period GDP) and its GDP in the previous quarter was $19.5 trillion (Previous Period GDP).
In this example, the GDP growth rate is approximately 2.564%, indicating economic growth.
function calculateGDPGrowth() {
var currentGDP = parseFloat(document.getElementById("currentGDP").value);
var previousGDP = parseFloat(document.getElementById("previousGDP").value);
var resultDiv = document.getElementById("result");
if (isNaN(currentGDP) || isNaN(previousGDP) || previousGDP === 0) {
resultDiv.innerHTML = "Please enter valid numbers for both GDP values, and ensure the previous period GDP is not zero.";
return;
}
var growthRate = ((currentGDP – previousGDP) / previousGDP) * 100;
resultDiv.innerHTML = "