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High income OECD countries Compared by Economy > Economic growth > Evolution of GDP > Real GDP growth

DEFINITION: In order to calculate the growth rate of GDP free of the direct effects of inflation, data at fixed, or constant, prices should be used. Price relativities change over time, and the 1993 System of National Accounts recommends that the fixed prices used should be representative of the periods for which the growth rates are calculated, which means that new fixed prices should be introduced frequently, typically every year. The growth rates of GDP between successive periods are linked together to form chain volume indices. All OECD countries derive their "volume" estimates in this way, except for Korea, and Mexico.. These two like many non-OECD countries, only revise their fixed weights every five or ten years. Such practices tend to lead to biased growth rates, usually upward.

The growth rates for OECD total are averages of the growth rates of individual countries weighted by the relative size of each country’s GDP in US dollars. Conversion to US dollars is done using purchasing power parities so that each country is weighted by the relative size of its real GDP.

CONTENTS

# COUNTRY AMOUNT DATE GRAPH
1 Slovakia 10.42% 1993
2 Poland 6.65% 1993
3 Ireland 6.03% 1993
4 Czech Republic 5.95% 1993
5 Luxembourg 5.2% 1993
6 South Korea 4.97% 1993
7 Finland 4.52% 1993
8 Australia 4.44% 1993
9 Greece 4.04% 1993
10 Iceland 3.84% 1993
11 Spain 3.66% 1993
12 Netherlands 3.46% 1993
13 Switzerland 3.33% 1993
14 Norway 3.13% 1993
15 Austria 3.07% 1993
16 United Kingdom 3.03% 1993
17 New Zealand 2.97% 1993
18 Belgium 2.76% 1993
19 Canada 2.71% 1993
20 Sweden 2.54% 1993
21 Germany 2.46% 1993
22 France 2.17% 1993
23 Japan 2.08% 1993
24 United States 2.02% 1993
25 Portugal 1.93% 1993
26 Denmark 1.65% 1993
27 Italy 1.46% 1993

Citation

High income OECD countries Compared by Economy > Economic growth > Evolution of GDP > Real GDP growth

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