GDP growth (annual %) - Country Ranking

Definition: Annual percentage growth rate of GDP at market prices based on constant local currency. Aggregates are based on constant 2005 U.S. dollars. GDP 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.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also: Thematic map, Time series comparison

Find indicator:
Rank Country Value Year
1 Angola 13.82 2002
2 Turkmenistan 10.30 2014
3 Ethiopia 10.28 2014
4 Monaco 10.00 2008
5 Dem. Rep. Congo 9.05 2014
6 Eritrea 8.68 2011
7 Côte d'Ivoire 8.55 2014
8 Papua New Guinea 8.53 2014
9 Myanmar 8.50 2014
10 Uzbekistan 8.10 2014
11 Palau 7.95 2014
12 Mongolia 7.82 2014
13 Lao PDR 7.52 2014
14 Dominican Republic 7.34 2014
15 Chad 7.30 2014
16 India 7.29 2014
17 China 7.27 2014
18 Mozambique 7.22 2014
19 Mali 7.19 2014
20 Cambodia 7.07 2014
21 Timor-Leste 7.00 2014
22 Tanzania 6.97 2014
23 Rwanda 6.96 2014
24 Fiji 6.94 2014
25 Niger 6.90 2014
26 St. Kitts and Nevis 6.90 2014
27 Congo 6.78 2014
28 Tajikistan 6.70 2014
29 Benin 6.54 2014
30 Mauritania 6.42 2014
31 Namibia 6.37 2014
32 Nigeria 6.31 2014
33 Panama 6.16 2014
34 Philippines 6.13 2014
35 Bangladesh 6.06 2014
36 Djibouti 6.00 2014
37 Zambia 6.00 2014
38 Malaysia 5.99 2014
39 Vietnam 5.98 2014
40 Cameroon 5.93 2014
41 Togo 5.71 2014
42 Syrian Arab Republic 5.70 2007
42 Malawi 5.70 2014
44 Grenada 5.68 2014
45 Bolivia 5.46 2014
46 Bhutan 5.46 2014
47 Nepal 5.38 2014
48 Kenya 5.33 2014
49 Cayman Islands 5.31 1994
50 Guyana 5.22 2013
51 Ireland 5.20 2014
52 Indonesia 5.02 2014
53 Antigua and Barbuda 4.82 2014
54 Uganda 4.82 2014
55 Georgia 4.77 2014
56 Pakistan 4.74 2014
57 Paraguay 4.72 2014
58 Senegal 4.72 2014
59 Nicaragua 4.70 2014
60 Burundi 4.66 2014
61 Sierra Leone 4.61 2014
62 Moldova 4.60 2014
63 United Arab Emirates 4.57 2014
64 Colombia 4.55 2014
65 Bahrain 4.48 2014
66 São Tomé and Principe 4.48 2014
67 Sri Lanka 4.46 2014
68 Botswana 4.42 2014
69 Kazakhstan 4.40 2014
70 Iran 4.34 2014
71 Gabon 4.31 2014
72 Guatemala 4.25 2014
73 Yemen 4.16 2013
74 Luxembourg 4.07 2014
75 Burkina Faso 4.00 2014
76 Ghana 3.99 2014
77 Qatar 3.98 2014
78 Dominica 3.88 2014
79 Zimbabwe 3.85 2014
80 Algeria 3.80 2014
81 Macedonia 3.77 2014
82 Kiribati 3.70 2014
83 Ecuador 3.67 2014
84 Hungary 3.67 2014
85 Lesotho 3.64 2014
86 Saudi Arabia 3.64 2014
87 Kyrgyz Republic 3.60 2014
88 Mauritius 3.60 2014
89 Belize 3.58 2014
90 Costa Rica 3.50 2014
91 Armenia 3.50 2014
92 Uruguay 3.50 2014
93 Poland 3.33 2014
94 Seychelles 3.32 2014
95 Madagascar 3.32 2014
96 Korea 3.31 2014
97 Sudan 3.10 2014
98 Jordan 3.10 2014
99 Honduras 3.09 2014
100 Slovenia 3.05 2014
101 Lithuania 3.03 2014
102 New Zealand 3.00 2014
103 United Kingdom 2.94 2014
104 Singapore 2.92 2014
105 Turkey 2.91 2014
106 Estonia 2.91 2014
107 Malta 2.90 2013
108 Oman 2.89 2014
109 Cabo Verde 2.80 2014
110 Romania 2.78 2014
111 Haiti 2.75 2014
112 Tunisia 2.70 2014
113 Cuba 2.69 2013
114 Israel 2.55 2014
115 Guinea-Bissau 2.54 2014
116 Slovak Republic 2.52 2014
117 Hong Kong SAR, China 2.50 2014
118 Australia 2.50 2014
119 Swaziland 2.45 2014
120 Canada 2.44 2014
121 Morocco 2.42 2014
122 United States 2.39 2014
123 Latvia 2.36 2014
124 Peru 2.35 2014
125 Sweden 2.33 2014
126 Vanuatu 2.30 2014
127 Mexico 2.23 2014
128 Egypt 2.23 2014
129 Norway 2.21 2014
130 Albania 2.17 2014
131 Tonga 2.14 2014
132 New Caledonia 2.10 2000
133 Comoros 2.06 2014
134 Azerbaijan 2.00 2014
134 Lebanon 2.00 2014
136 Tuvalu 1.99 2014
137 Czech Republic 1.98 2014
138 El Salvador 1.95 2014
139 San Marino 1.90 2008
140 Chile 1.89 2014
141 Switzerland 1.89 2014
142 Suriname 1.84 2014
143 Iceland 1.83 2014
144 Montenegro 1.78 2014
145 Germany 1.60 2014
146 Belarus 1.59 2014
147 Bulgaria 1.55 2014
148 South Africa 1.55 2014
149 Solomon Islands 1.51 2014
150 Spain 1.36 2014
151 Belgium 1.35 2014
152 Afghanistan 1.31 2014
153 Samoa 1.20 2014
154 Denmark 1.09 2014
155 Bosnia and Herzegovina 1.08 2014
156 The Bahamas 1.02 2014
157 Netherlands 1.01 2014
158 Central African Republic 1.01 2014
159 Portugal 0.91 2014
160 The Gambia 0.88 2014
161 Thailand 0.87 2014
162 Trinidad and Tobago 0.82 2014
163 Liberia 0.70 2014
164 Jamaica 0.69 2014
165 Greece 0.65 2014
166 Russia 0.64 2014
167 St. Vincent and the Grenadines 0.60 2014
168 St. Lucia 0.46 2014
169 Argentina 0.45 2014
170 Guinea 0.40 2014
171 Austria 0.35 2014
172 Barbados 0.18 2014
173 France 0.18 2014
174 Brazil 0.10 2014
175 Andorra -0.06 2013
176 Japan -0.10 2014
177 Equatorial Guinea -0.30 2014
178 Macao SAR, China -0.35 2014
179 Croatia -0.36 2014
180 Finland -0.40 2014
181 Italy -0.44 2014
182 Puerto Rico -0.58 2013
183 Liechtenstein -1.16 2009
184 Somalia -1.48 1990
185 Kuwait -1.62 2014
186 Serbia -1.81 2014
187 Iraq -2.12 2014
188 Cyprus -2.26 2014
189 Brunei -2.34 2014
190 Venezuela -4.00 2014
191 Greenland -5.41 2009
192 Ukraine -6.80 2014
193 Libya -24.00 2014

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Development Relevance: An economy's growth is measured by the change in the volume of its output or in the real incomes of its residents. The 2008 United Nations System of National Accounts (2008 SNA) offers three plausible indicators for calculating growth: the volume of gross domestic product (GDP), real gross domestic income, and real gross national income. The volume of GDP is the sum of value added, measured at constant prices, by households, government, and industries operating in the economy. GDP accounts for all domestic production, regardless of whether the income accrues to domestic or foreign institutions.

Limitations and Exceptions: Each industry's contribution to growth in the economy's output is measured by growth in the industry's value added. In principle, value added in constant prices can be estimated by measuring the quantity of goods and services produced in a period, valuing them at an agreed set of base year prices, and subtracting the cost of intermediate inputs, also in constant prices. This double-deflation method requires detailed information on the structure of prices of inputs and outputs. In many industries, however, value added is extrapolated from the base year using single volume indexes of outputs or, less commonly, inputs. Particularly in the services industries, including most of government, value added in constant prices is often imputed from labor inputs, such as real wages or number of employees. In the absence of well defined measures of output, measuring the growth of services remains difficult. Moreover, technical progress can lead to improvements in production processes and in the quality of goods and services that, if not properly accounted for, can distort measures of value added and thus of growth. When inputs are used to estimate output, as for nonmarket services, unmeasured technical progress leads to underestimates of the volume of output. Similarly, unmeasured improvements in quality lead to underestimates of the value of output and value added. The result can be underestimates of growth and productivity improvement and overestimates of inflation. Informal economic activities pose a particular measurement problem, especially in developing countries, where much economic activity is unrecorded. A complete picture of the economy requires estimating household outputs produced for home use, sales in informal markets, barter exchanges, and illicit or deliberately unreported activities. The consistency and completeness of such estimates depend on the skill and methods of the compiling statisticians. Rebasing of national accounts can alter the measured growth rate of an economy and lead to breaks in series that affect the consistency of data over time. When countries rebase their national accounts, they update the weights assigned to various components to better reflect current patterns of production or uses of output. The new base year should represent normal operation of the economy - it should be a year without major shocks or distortions. Some developing countries have not rebased their national accounts for many years. Using an old base year can be misleading because implicit price and volume weights become progressively less relevant and useful. To obtain comparable series of constant price data for computing aggregates, the World Bank rescales GDP and value added by industrial origin to a common reference year. Because rescaling changes the implicit weights used in forming regional and income group aggregates, aggregate growth rates are not comparable with those from earlier editions with different base years. Rescaling may result in a discrepancy between the rescaled GDP and the sum of the rescaled components. To avoid distortions in the growth rates, the discrepancy is left unallocated. As a result, the weighted average of the growth rates of the components generally does not equal the GDP growth rate.

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. When value added is measured at producer prices. Growth rates of GDP and its components are calculated using the least squares method and constant price data in the local currency. Constant price U.S. dollar series are used to calculate regional and income group growth rates. Local currency series are converted to constant U.S. dollars using an exchange rate in the common reference year.

Aggregation method: Weighted average

Periodicity: Annual