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 2010 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 Iran 13.40 2016
2 Iraq 11.00 2016
3 Nauru 10.40 2016
4 Monaco 10.00 2008
5 Eritrea 8.68 2011
6 Côte d'Ivoire 8.34 2016
7 Bhutan 7.99 2016
8 Uzbekistan 7.80 2016
9 Ethiopia 7.56 2016
10 Iceland 7.20 2016
11 Samoa 7.15 2016
12 Bangladesh 7.11 2016
13 India 7.11 2016
14 Lao PDR 7.02 2016
15 Tanzania 6.97 2016
16 Cambodia 6.95 2016
17 Philippines 6.92 2016
18 Tajikistan 6.90 2016
19 Senegal 6.74 2016
20 China 6.69 2016
21 Dominican Republic 6.65 2016
22 Guinea 6.63 2016
23 Djibouti 6.50 2015
24 Sierra Leone 6.30 2016
25 Vietnam 6.21 2016
26 Turkmenistan 6.20 2016
27 Rwanda 5.93 2016
28 Burkina Faso 5.92 2016
29 Myanmar 5.87 2016
30 Kenya 5.85 2016
31 Mali 5.80 2016
32 Guinea-Bissau 5.76 2016
33 Syrian Arab Republic 5.70 2007
34 Timor-Leste 5.67 2016
35 Oman 5.65 2015
36 Malta 5.52 2016
37 Pakistan 5.47 2016
38 Antigua and Barbuda 5.34 2016
39 Cayman Islands 5.31 1994
40 Ireland 5.14 2016
41 Togo 5.04 2016
42 Niger 5.04 2016
43 Indonesia 5.02 2016
44 Panama 4.88 2016
45 Nicaragua 4.70 2016
46 Sudan 4.70 2016
47 Uganda 4.66 2016
48 Romania 4.59 2016
49 Central African Republic 4.53 2016
50 Seychelles 4.50 2016
51 Cameroon 4.45 2016
52 Cuba 4.44 2015
53 Sri Lanka 4.38 2016
54 Costa Rica 4.33 2016
55 Egypt 4.30 2016
56 Botswana 4.29 2016
57 Bolivia 4.26 2016
58 Malaysia 4.22 2016
59 Madagascar 4.18 2016
60 São Tomé and Principe 4.14 2016
61 Moldova 4.10 2016
62 Israel 4.09 2016
63 Paraguay 4.02 2016
64 Vanuatu 4.00 2016
65 Benin 3.98 2016
66 Bulgaria 3.94 2016
67 Cabo Verde 3.92 2016
68 Peru 3.88 2016
69 Mozambique 3.85 2016
70 Kyrgyz Republic 3.83 2016
71 Mauritius 3.80 2016
72 Grenada 3.68 2016
73 Zambia 3.61 2016
74 Honduras 3.61 2016
75 Ghana 3.58 2016
76 Kuwait 3.55 2016
77 Tonga 3.38 2016
78 Albania 3.37 2016
79 Guyana 3.36 2016
80 Slovak Republic 3.32 2016
81 Algeria 3.30 2016
82 Spain 3.27 2016
83 Thailand 3.24 2016
84 Sweden 3.23 2016
85 Turkey 3.18 2016
86 Slovenia 3.15 2016
87 Luxembourg 3.08 2016
88 Guatemala 3.07 2016
89 Bosnia and Herzegovina 3.06 2016
90 New Zealand 3.05 2016
91 United Arab Emirates 3.04 2016
92 Cyprus 3.03 2016
93 Solomon Islands 2.99 2016
94 Croatia 2.98 2016
95 Montenegro 2.95 2016
96 Poland 2.86 2016
97 Bahrain 2.86 2015
98 Georgia 2.85 2016
99 Korea 2.83 2016
100 Serbia 2.80 2016
101 Australia 2.77 2016
102 Tuvalu 2.74 2016
103 Dominica 2.64 2016
104 Czech Republic 2.59 2016
105 Malawi 2.48 2016
106 Dem. Rep. Congo 2.42 2016
107 Macedonia 2.41 2016
108 Lesotho 2.40 2016
109 Papua New Guinea 2.40 2016
110 El Salvador 2.37 2016
111 Ukraine 2.31 2016
112 Lithuania 2.30 2016
113 Mexico 2.29 2016
114 Gabon 2.26 2016
115 Afghanistan 2.23 2016
116 Qatar 2.22 2016
117 The Gambia 2.22 2016
118 Hungary 2.21 2016
119 Netherlands 2.21 2016
120 St. Kitts and Nevis 2.21 2016
121 Comoros 2.20 2016
122 New Caledonia 2.10 2000
123 Latvia 2.08 2016
124 Estonia 2.06 2016
125 Hong Kong SAR, China 2.05 2016
126 Barbados 2.04 2016
127 Jordan 2.00 2016
128 Lebanon 2.00 2016
128 Mauritania 2.00 2016
130 Singapore 2.00 2016
131 Denmark 1.96 2016
132 Colombia 1.96 2016
133 Germany 1.94 2016
134 Palau 1.93 2016
135 Finland 1.93 2016
136 St. Vincent and the Grenadines 1.86 2016
137 United Kingdom 1.79 2016
138 Saudi Arabia 1.74 2016
139 Greenland 1.66 2015
140 Chile 1.59 2016
141 Portugal 1.54 2016
142 United States 1.49 2016
143 Austria 1.48 2016
144 Canada 1.47 2016
145 Belgium 1.47 2016
146 Uruguay 1.45 2016
147 Haiti 1.44 2016
148 Switzerland 1.38 2016
149 Jamaica 1.37 2016
150 Swaziland 1.37 2016
151 Mongolia 1.24 2016
152 Andorra 1.23 2016
153 Morocco 1.22 2016
154 France 1.19 2016
155 Tunisia 1.17 2016
156 Kiribati 1.14 2016
157 Kazakhstan 1.10 2016
158 Norway 1.09 2016
159 Namibia 1.08 2016
160 Japan 1.03 2016
161 San Marino 0.97 2016
162 Italy 0.94 2016
163 St. Lucia 0.93 2016
164 Zimbabwe 0.62 2016
165 Nepal 0.41 2016
166 Fiji 0.38 2016
167 South Africa 0.28 2016
168 Armenia 0.20 2016
169 The Bahamas 0.17 2016
170 Russia -0.22 2016
171 Greece -0.24 2016
172 Burundi -0.57 2016
173 Puerto Rico -0.58 2013
174 Belize -0.59 2016
175 Angola -0.67 2016
176 Liechtenstein -1.16 2009
177 Somalia -1.48 1990
178 Ecuador -1.58 2016
179 Liberia -1.60 2016
180 Nigeria -1.62 2016
181 Congo -1.86 2016
182 Macao SAR, China -2.14 2016
183 Argentina -2.25 2016
184 Trinidad and Tobago -2.27 2016
185 Brunei -2.47 2016
186 Belarus -2.65 2016
187 Azerbaijan -3.10 2016
188 Brazil -3.59 2016
189 Venezuela -3.89 2014
190 Suriname -5.14 2016
191 Chad -7.00 2016
192 Equatorial Guinea -8.93 2016
193 Yemen -9.78 2016
194 Libya -62.08 2011

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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