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Gross Domestic Product (GDP) Calculator
Gross domestic product can be explained as the overall amount of goods and services a nation could produce for a year. This is a vital factor which measures the economic growth of a country. The GDP can be calculated by two different methods. They are:
1. Expenditure approach
2. Income Approach
1. Expenditure Approach: This method primarily targets consumer spending on all goods and services within the given fiscal year. We can calculate GDP by expenditure approach with the help of this below formula:
GDP by expenditure approach = personal consumption + private investment + (export - import) + government spending
2. Income Approach: This method primarily targets upon employee compensation such as salary, pensions, social security compensations etc. We can calculate GDP by income approach with the help of this below formula:
GDP by income approach = wages + proprietor's income + rents + corporate profits + interest income + indirect business taxes + depreciation + foreign income
We have calculators below to calculate GDP by both of the above mentioned methods. Enter the required fields and click calculate button to find the answer.
GDP by Expenditure Approach Calculator
GDP by Income Approach Calculator
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