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You get an original and high-quality paper based on extensive research. The completed work will be correctly formatted, referenced and tailored to your level of study.
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Economics is the study of how societies use their resources to produce goods and services. It is a social science that examines the production, distribution, .... Essays in economic development ... and obstacles faced by the poorer nations of the global economy on the path to development are extremely diverse.. Free Essay: Many people think that economics is about money. Well, to some extent this is true. Economics has a lot to do with money: with how much money.... Analysis of the Tourism & Airline Industry in the UAE. Example essay. Last modified: 4th Jun 2023.. Up: Economics Network > Writing for Economics. Essay writing. The idea of setting essays is to offer you the chance to make a longer, more complex argument.. Economics essays often examine how governments can manage resources to promote economic growth. In addition, economics essays may also analyze the impact of .... evidence on three issues within the field of economic development: the effect of social networks on immigrants' labor market outcomes (first essay), .... Lionel Robbins, biography, from the Concise Encyclopedia of Economics: Robbins' most famous book was An Essay on the Nature and Significance of Economic Science .... This thesis was written while I worked at the Research Unit on Economic ... Lilja examined an earlier version of the first essay and provided useful .... The list of economic essay topics is endless – the field focuses on multiple areas of human interactions on different scales. Choosing one of the economics ...
Economic Growth Essay
The Global Economy Essay
Essay On Us Economy
Essay about Economic Conditions
Essay about Us Economy and Gdp
Macroeconomics Essay
Essay on Economics in My Life
Economic Systems Essay
business economics Essay
What is Economics? Essay
Essay about The British Economy
Economics Reflection
Essay about U.S. Economy
Alternatives to gdp to measure economic and social progressFernando Alcoforado
The objective of this article is to demonstrate the need to abandon the calculation of GDP (Gross Domestic Product) that computes all the financial movements of a country or region whether or not they are beneficial to the population, a fact that imposes the need for their replacement by another economic indicator.
This document discusses macroeconomic concepts including GDP, business cycles, economic growth, and technological progress. It explains that GDP measures the value of final goods and services produced, and economists use GDP and real GDP per capita to analyze economic performance and standards of living. The business cycle consists of expansion, peak, contraction and trough phases influenced by investment, interest rates, expectations and external shocks. Economic growth results from capital deepening, savings, population changes, government policies, and technological advances driven by factors like research, innovation, and education.
GDP is defined as an aggregate measure of production equal to the .pdfannucommunication1
GDP is defined as \"an aggregate measure of production equal to the sum of the gross values
added of all resident, institutional units engaged in production (plus any taxes, and minus any
subsidies, on products not included in the value of their outputs)\" by the OECD. It can be
measured through any of the following three ways:
In general the various components of GDP includes the following:
Y = C + I + G + (X M)
where Y = GDP
C = Consumption
I = INvestment
G = Govt. Spending
X-M = Net Export
When talking about US\'s GDP, the major contribution is made by Consumption. Nearly 70% of
what the United States produces is for personal consumption. In 2014, $11.929 trillion of the the
total $17.418 trillion produced in the U.S, where goods contributed almost 1/4 of total GDP and
service nearly half (45.7%) of GDP. Because of post recession period, investment is not that
much contributing. Although fixed investment (specially real estate development) has a better
role to play than private inventory change. Government spending added $3.176 trillion to the
economy in 2014, 18.2% of total GDP. In the end, the United States imports more than it
exports, creating a trade deficit hence having negative effect on GDP. In 2014, imports were
$2.875 trillion, while exports were $2.335 trillion. As a result, international tradesubtracted $540
billion from GDP.
All data are sourced from U.S. Bureau of Economic Analysis, National Income and Product
Accounts Tables.
Differences between real GDP and nominal GDP are given in the following table:
Real GDP = pbqt
where b denotes the base year.
Nominal GDP = ptqt
where p refers to price, q is quantity, and t indicates the year in question (usually the current
year).
Business Cycle refers to economic contractions, troughs, expansions and peaks that are
unpredictable phases of economic activity. As the economy goes through business cycle changes,
these positively or negatively affect the GDP.
During a contraction, economic output slows, usually due to decreased demand for products and
services, an increase in the cost of raw materials or both. An economic trough occurs after a
contraction. A historically high national unemployment rate and low economic output usually
mark this trough, which often signals that the economy is already in or heading toward a
recession. Unlike a contractionary phase in which the GDP decreases but is still positive, during
a trough the GDP is negative.After the \"rock bottom\" of an economic trough, expansion is its
recovery. If the economy grows for two or three consecutive calendar quarters, it indicates that it
is beginning its recovery and GDP begins to increase. An economic peak is like a mountain
summit. Once the economy reaches this peak, it must come down. This economic peak is the
highest point of economic growth and output, resulting in an increase in the GDP.BasisReal
GDPNominal GDPMeaning/MeasureIt measures the value of output economy, adjusted for price
changes.It measures the mark.
This document examines the measurement of economic growth in Nigeria using gross domestic product (GDP) data from 1980 to 2014. It defines GDP and related terms like gross national product, real GDP, nominal GDP, and GDP deflator. GDP is the total value of goods and services produced within a country in a year. Real GDP accounts for inflation to measure actual economic output. The author analyzes Nigeria's GDP figures over the period and finds little significant economic growth. They recommend the government improve infrastructure to aid business and formulate sound monetary and fiscal policies to mitigate inflation and boost productivity.
GDP, GNP, NNI, and other measures are used to estimate total economic activity in a country. GDP measures the total value of goods and services produced within a country's borders, while GNP includes production by citizens abroad. National accounts were developed in the 1930s to systematically track these figures. GDP can be calculated by the output, income, or expenditure approach, but all aim to capture final production values and avoid double counting. While GDP provides a measure of overall economic activity, it has limitations in assessing welfare as it excludes unpaid work and factors like leisure, environment, and income inequality.
Paper Writing Service - HelpWriting.net 👈
✅ Quality
You get an original and high-quality paper based on extensive research. The completed work will be correctly formatted, referenced and tailored to your level of study.
✅ Confidentiality
We value your privacy. We do not disclose your personal information to any third party without your consent. Your payment data is also safely handled as you process the payment through a secured and verified payment processor.
✅ Originality
Every single order we deliver is written from scratch according to your instructions. We have zero tolerance for plagiarism, so all completed papers are unique and checked for plagiarism using a leading plagiarism detector.
✅ On-time delivery
We strive to deliver quality custom written papers before the deadline. That's why you don't have to worry about missing the deadline for submitting your assignment.
✅ Free revisions
You can ask to revise your paper as many times as you need until you're completely satisfied with the result. Provide notes about what needs to be changed, and we'll change it right away.
✅ 24/7 Support
From answering simple questions to solving any possible issues, we're always here to help you in chat and on the phone. We've got you covered at any time, day or night.
Economics is the study of how societies use their resources to produce goods and services. It is a social science that examines the production, distribution, .... Essays in economic development ... and obstacles faced by the poorer nations of the global economy on the path to development are extremely diverse.. Free Essay: Many people think that economics is about money. Well, to some extent this is true. Economics has a lot to do with money: with how much money.... Analysis of the Tourism & Airline Industry in the UAE. Example essay. Last modified: 4th Jun 2023.. Up: Economics Network > Writing for Economics. Essay writing. The idea of setting essays is to offer you the chance to make a longer, more complex argument.. Economics essays often examine how governments can manage resources to promote economic growth. In addition, economics essays may also analyze the impact of .... evidence on three issues within the field of economic development: the effect of social networks on immigrants' labor market outcomes (first essay), .... Lionel Robbins, biography, from the Concise Encyclopedia of Economics: Robbins' most famous book was An Essay on the Nature and Significance of Economic Science .... This thesis was written while I worked at the Research Unit on Economic ... Lilja examined an earlier version of the first essay and provided useful .... The list of economic essay topics is endless – the field focuses on multiple areas of human interactions on different scales. Choosing one of the economics ...
Economic Growth Essay
The Global Economy Essay
Essay On Us Economy
Essay about Economic Conditions
Essay about Us Economy and Gdp
Macroeconomics Essay
Essay on Economics in My Life
Economic Systems Essay
business economics Essay
What is Economics? Essay
Essay about The British Economy
Economics Reflection
Essay about U.S. Economy
Alternatives to gdp to measure economic and social progressFernando Alcoforado
The objective of this article is to demonstrate the need to abandon the calculation of GDP (Gross Domestic Product) that computes all the financial movements of a country or region whether or not they are beneficial to the population, a fact that imposes the need for their replacement by another economic indicator.
This document discusses macroeconomic concepts including GDP, business cycles, economic growth, and technological progress. It explains that GDP measures the value of final goods and services produced, and economists use GDP and real GDP per capita to analyze economic performance and standards of living. The business cycle consists of expansion, peak, contraction and trough phases influenced by investment, interest rates, expectations and external shocks. Economic growth results from capital deepening, savings, population changes, government policies, and technological advances driven by factors like research, innovation, and education.
GDP is defined as an aggregate measure of production equal to the .pdfannucommunication1
GDP is defined as \"an aggregate measure of production equal to the sum of the gross values
added of all resident, institutional units engaged in production (plus any taxes, and minus any
subsidies, on products not included in the value of their outputs)\" by the OECD. It can be
measured through any of the following three ways:
In general the various components of GDP includes the following:
Y = C + I + G + (X M)
where Y = GDP
C = Consumption
I = INvestment
G = Govt. Spending
X-M = Net Export
When talking about US\'s GDP, the major contribution is made by Consumption. Nearly 70% of
what the United States produces is for personal consumption. In 2014, $11.929 trillion of the the
total $17.418 trillion produced in the U.S, where goods contributed almost 1/4 of total GDP and
service nearly half (45.7%) of GDP. Because of post recession period, investment is not that
much contributing. Although fixed investment (specially real estate development) has a better
role to play than private inventory change. Government spending added $3.176 trillion to the
economy in 2014, 18.2% of total GDP. In the end, the United States imports more than it
exports, creating a trade deficit hence having negative effect on GDP. In 2014, imports were
$2.875 trillion, while exports were $2.335 trillion. As a result, international tradesubtracted $540
billion from GDP.
All data are sourced from U.S. Bureau of Economic Analysis, National Income and Product
Accounts Tables.
Differences between real GDP and nominal GDP are given in the following table:
Real GDP = pbqt
where b denotes the base year.
Nominal GDP = ptqt
where p refers to price, q is quantity, and t indicates the year in question (usually the current
year).
Business Cycle refers to economic contractions, troughs, expansions and peaks that are
unpredictable phases of economic activity. As the economy goes through business cycle changes,
these positively or negatively affect the GDP.
During a contraction, economic output slows, usually due to decreased demand for products and
services, an increase in the cost of raw materials or both. An economic trough occurs after a
contraction. A historically high national unemployment rate and low economic output usually
mark this trough, which often signals that the economy is already in or heading toward a
recession. Unlike a contractionary phase in which the GDP decreases but is still positive, during
a trough the GDP is negative.After the \"rock bottom\" of an economic trough, expansion is its
recovery. If the economy grows for two or three consecutive calendar quarters, it indicates that it
is beginning its recovery and GDP begins to increase. An economic peak is like a mountain
summit. Once the economy reaches this peak, it must come down. This economic peak is the
highest point of economic growth and output, resulting in an increase in the GDP.BasisReal
GDPNominal GDPMeaning/MeasureIt measures the value of output economy, adjusted for price
changes.It measures the mark.
This document examines the measurement of economic growth in Nigeria using gross domestic product (GDP) data from 1980 to 2014. It defines GDP and related terms like gross national product, real GDP, nominal GDP, and GDP deflator. GDP is the total value of goods and services produced within a country in a year. Real GDP accounts for inflation to measure actual economic output. The author analyzes Nigeria's GDP figures over the period and finds little significant economic growth. They recommend the government improve infrastructure to aid business and formulate sound monetary and fiscal policies to mitigate inflation and boost productivity.
GDP, GNP, NNI, and other measures are used to estimate total economic activity in a country. GDP measures the total value of goods and services produced within a country's borders, while GNP includes production by citizens abroad. National accounts were developed in the 1930s to systematically track these figures. GDP can be calculated by the output, income, or expenditure approach, but all aim to capture final production values and avoid double counting. While GDP provides a measure of overall economic activity, it has limitations in assessing welfare as it excludes unpaid work and factors like leisure, environment, and income inequality.
The document discusses Gross Domestic Product (GDP), including its definition, history, and methods of calculation. GDP is the primary measure of a nation's production and was created by Simon Kuznets in 1937 to help the US government understand the economy during the Great Depression. It measures the total value of goods and services produced within a country's borders in a year. GDP can be calculated using three approaches - production, expenditure, and income.
The document discusses GDP growth rates in India and other countries. It provides context on how GDP is used to measure a country's economy. Specifically, it notes that India's GDP growth rate was 2.4% in 2020, while the US was -3.7% and Russia and China were also negative. It defines GDP as the total monetary value of goods and services produced within a country in one year. GDP gives policymakers information to analyze the economy and impact of policies, but it also has limitations in accuracy between countries.
The document outlines the course schedule for an economics class, including chapters on the subject and aim of economics, the market mechanism of demand and supply, and national economic performance and growth. It then provides details on measuring national economic performance using Gross Domestic Product and how GDP is calculated. It also discusses factors that influence economic growth and that while GDP measures output, it does not necessarily correlate with increased welfare. A country's welfare is determined by several other indicators like life expectancy, leisure time, and inequality levels in addition to GDP.
This document outlines the key topics in Chapter 3 of an Economics course, which focuses on national economic performance and growth. It discusses macroeconomics and how Gross Domestic Product is used to measure the total output and performance of a national economy. The chapter also examines the factors that influence GDP, including consumption, investment, government spending, and net exports. Additionally, it explores the concepts of economic growth, the flow of income in an economy, and the relationship between economic growth and overall welfare. While GDP is an indicator of growth, higher GDP does not always correlate with greater welfare, as other quality of life factors must also be considered.
This document outlines the key topics in Chapter 3 of an Economics course, which focuses on national economic performance and growth. It discusses macroeconomics and how Gross Domestic Product is used to measure the total output and performance of a national economy. The chapter also examines the factors that influence GDP, including consumption, investment, government spending, and net exports. Additionally, it explores the concepts of economic growth, the flow of income in an economy, and the relationship between economic growth and overall welfare. While GDP is an indicator of growth, higher GDP does not always correlate with greater welfare, as other quality of life factors must also be considered.
The document discusses differences between developmental policies in Guizhou and Yunnan provinces in China. While both aimed to reduce poverty, Guizhou saw more modest economic growth but greater poverty reduction, compared to Yunnan which had strong growth but stagnant poverty rates. This was due to differences in policies set by individual officials, as Guizhou focused more on micro-level opportunities compared to Yunnan's emphasis on macro-level growth.
W1L1_Lecture 1-Concepts of Economic Growth and Development.pptxAMBIKABHANDARI5
This document provides an overview of concepts related to economic growth. It defines economic growth as an increase in production of goods and services or real national/per capita income over time. It discusses concepts used to estimate growth such as nominal vs real values, gross vs net, and current vs constant prices. It also covers topics like the circular flow of income/output, national income accounting, methods to measure national income, and key terms like GDP, GNP, NNP. Finally, it outlines some key distinctions between developed and developing economies such as levels of income, capital, population growth, poverty, employment, and technology.
The document discusses macroeconomics and provides definitions and examples. It defines macroeconomics as the study of the economy as a whole, including measurements of concepts like GDP, unemployment, and inflation. It contrasts macroeconomics with microeconomics, which focuses on individual markets. Examples are given of macroeconomic indicators like GDP and unemployment rates, as well as macroeconomic theories from economists like John Maynard Keynes.
ECON3501
CARIBBEAN ECONOMIC
DEVELOPMENT
UNIT 4 – ECONOMIC GROWTH
RESOURCE MATERIALS
Levitt, Kari; Witter, Michael (1996). The Critical Tradition of Caribbean Political
Economy: The Legacy of George Beckford. Kingston. Ian Randle Publishers
Beckford; George (2000) Persistent Poverty; Underdevelopment in the Plantation
Economies of the Third World. UWI Press.
Todaro Michael & Smith Stephen; C. (2011) 11th Ed. Economic Development. Pearson
Education & Addison-Wesley
Bhagwati Jagdish (2004). In Defence of Globalization, Oxford University Press
Blackman; Courtney. (2005). The Practice of Economic Management: Caribbean
Perspective Kingston: Ian Randle Publishers
United Nations- UNDP, Human Development Report. World Bank-World
Development Report
2
ECONOMIC GROWTH
Economic growth has two meanings.
Firstly, and most commonly, growth is defined as an increase in the
output that an economy produces over a period of time based on per
capita. That is, an increase in GDP or GNI per capita.
The second meaning of economic growth is an increase in what an
economy can produce if it is using all its scarce resources.
An increase in an economy’s productive potential can be shown by an
outward shift in the economy’s production possibility frontier (PPF).
3
PER CAPITA STATISTICS
Per Capita is used to refer to a unit or each
person within a population.
A country’s economic growth and comparison
of living standards among countries can be
expressed using GDP per capita or GNI per
capita information.
Per capita GDP or GNP is simply a country’s
GDP or GNP divided by its population.
Using per capita statistics is a better measure
of the well-being for the average person.
Bahamas, The
2019 34,863.70
Puerto Rico
2019 32,873.70
Turks and Caicos Islands
2019 31,353.30
St. Kitts and Nevis
2019 19,935.00
Curacao
2019 19,689.10
Barbados
2019 18,148.20
Trinidad and Tobago
2019 17,398.00
Antigua and Barbuda 2019 17,112.80
Uruguay
2019 16,190.10
Panama
2019 15,731.00
Top 10 countries in the Latin America and Caribbean
region for 2019 based on figures from Worldbank.org
4
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-BS
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-PR
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-TC
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-KN
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-CW
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-BB
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-TT
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-AG
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-UY
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-PA
THE PRODUCTION POSSIBILITY FRONTIER
(PPF)
Q
u
a
n
ti
ty
o
f
C
o
m
p
u
te
rs
P
ro
d
u
c
e
d
Quantity of Cars Produced
3,000
1,000
2 ...
The document provides an overview of the global business environment in August 2015. It discusses the economies of key regions:
- The US economy saw growth in the first half of 2015 driven by consumer spending and low oil prices, though federal spending declined. Household debt levels remained stable while delinquencies decreased slightly.
- The EU recovery remains fragile despite measures like ECB bond purchases. Second quarter GDP growth of 0.3% missed targets as France stagnated and other major economies saw slower growth.
- Other topics covered include expectations for the timing of US interest rate rises, high stock valuations, trade balances of various countries, and the impact of sustained low oil prices on the global economy.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
The document discusses Gross Domestic Product (GDP), including its definition, history, and methods of calculation. GDP is the primary measure of a nation's production and was created by Simon Kuznets in 1937 to help the US government understand the economy during the Great Depression. It measures the total value of goods and services produced within a country's borders in a year. GDP can be calculated using three approaches - production, expenditure, and income.
The document discusses GDP growth rates in India and other countries. It provides context on how GDP is used to measure a country's economy. Specifically, it notes that India's GDP growth rate was 2.4% in 2020, while the US was -3.7% and Russia and China were also negative. It defines GDP as the total monetary value of goods and services produced within a country in one year. GDP gives policymakers information to analyze the economy and impact of policies, but it also has limitations in accuracy between countries.
The document outlines the course schedule for an economics class, including chapters on the subject and aim of economics, the market mechanism of demand and supply, and national economic performance and growth. It then provides details on measuring national economic performance using Gross Domestic Product and how GDP is calculated. It also discusses factors that influence economic growth and that while GDP measures output, it does not necessarily correlate with increased welfare. A country's welfare is determined by several other indicators like life expectancy, leisure time, and inequality levels in addition to GDP.
This document outlines the key topics in Chapter 3 of an Economics course, which focuses on national economic performance and growth. It discusses macroeconomics and how Gross Domestic Product is used to measure the total output and performance of a national economy. The chapter also examines the factors that influence GDP, including consumption, investment, government spending, and net exports. Additionally, it explores the concepts of economic growth, the flow of income in an economy, and the relationship between economic growth and overall welfare. While GDP is an indicator of growth, higher GDP does not always correlate with greater welfare, as other quality of life factors must also be considered.
This document outlines the key topics in Chapter 3 of an Economics course, which focuses on national economic performance and growth. It discusses macroeconomics and how Gross Domestic Product is used to measure the total output and performance of a national economy. The chapter also examines the factors that influence GDP, including consumption, investment, government spending, and net exports. Additionally, it explores the concepts of economic growth, the flow of income in an economy, and the relationship between economic growth and overall welfare. While GDP is an indicator of growth, higher GDP does not always correlate with greater welfare, as other quality of life factors must also be considered.
The document discusses differences between developmental policies in Guizhou and Yunnan provinces in China. While both aimed to reduce poverty, Guizhou saw more modest economic growth but greater poverty reduction, compared to Yunnan which had strong growth but stagnant poverty rates. This was due to differences in policies set by individual officials, as Guizhou focused more on micro-level opportunities compared to Yunnan's emphasis on macro-level growth.
W1L1_Lecture 1-Concepts of Economic Growth and Development.pptxAMBIKABHANDARI5
This document provides an overview of concepts related to economic growth. It defines economic growth as an increase in production of goods and services or real national/per capita income over time. It discusses concepts used to estimate growth such as nominal vs real values, gross vs net, and current vs constant prices. It also covers topics like the circular flow of income/output, national income accounting, methods to measure national income, and key terms like GDP, GNP, NNP. Finally, it outlines some key distinctions between developed and developing economies such as levels of income, capital, population growth, poverty, employment, and technology.
The document discusses macroeconomics and provides definitions and examples. It defines macroeconomics as the study of the economy as a whole, including measurements of concepts like GDP, unemployment, and inflation. It contrasts macroeconomics with microeconomics, which focuses on individual markets. Examples are given of macroeconomic indicators like GDP and unemployment rates, as well as macroeconomic theories from economists like John Maynard Keynes.
ECON3501
CARIBBEAN ECONOMIC
DEVELOPMENT
UNIT 4 – ECONOMIC GROWTH
RESOURCE MATERIALS
Levitt, Kari; Witter, Michael (1996). The Critical Tradition of Caribbean Political
Economy: The Legacy of George Beckford. Kingston. Ian Randle Publishers
Beckford; George (2000) Persistent Poverty; Underdevelopment in the Plantation
Economies of the Third World. UWI Press.
Todaro Michael & Smith Stephen; C. (2011) 11th Ed. Economic Development. Pearson
Education & Addison-Wesley
Bhagwati Jagdish (2004). In Defence of Globalization, Oxford University Press
Blackman; Courtney. (2005). The Practice of Economic Management: Caribbean
Perspective Kingston: Ian Randle Publishers
United Nations- UNDP, Human Development Report. World Bank-World
Development Report
2
ECONOMIC GROWTH
Economic growth has two meanings.
Firstly, and most commonly, growth is defined as an increase in the
output that an economy produces over a period of time based on per
capita. That is, an increase in GDP or GNI per capita.
The second meaning of economic growth is an increase in what an
economy can produce if it is using all its scarce resources.
An increase in an economy’s productive potential can be shown by an
outward shift in the economy’s production possibility frontier (PPF).
3
PER CAPITA STATISTICS
Per Capita is used to refer to a unit or each
person within a population.
A country’s economic growth and comparison
of living standards among countries can be
expressed using GDP per capita or GNI per
capita information.
Per capita GDP or GNP is simply a country’s
GDP or GNP divided by its population.
Using per capita statistics is a better measure
of the well-being for the average person.
Bahamas, The
2019 34,863.70
Puerto Rico
2019 32,873.70
Turks and Caicos Islands
2019 31,353.30
St. Kitts and Nevis
2019 19,935.00
Curacao
2019 19,689.10
Barbados
2019 18,148.20
Trinidad and Tobago
2019 17,398.00
Antigua and Barbuda 2019 17,112.80
Uruguay
2019 16,190.10
Panama
2019 15,731.00
Top 10 countries in the Latin America and Caribbean
region for 2019 based on figures from Worldbank.org
4
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-BS
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-PR
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-TC
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-KN
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-CW
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-BB
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-TT
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-AG
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-UY
https://data.worldbank.org/indicator/NY.GDP.PCAP.CD?locations=ZJ-PA
THE PRODUCTION POSSIBILITY FRONTIER
(PPF)
Q
u
a
n
ti
ty
o
f
C
o
m
p
u
te
rs
P
ro
d
u
c
e
d
Quantity of Cars Produced
3,000
1,000
2 ...
The document provides an overview of the global business environment in August 2015. It discusses the economies of key regions:
- The US economy saw growth in the first half of 2015 driven by consumer spending and low oil prices, though federal spending declined. Household debt levels remained stable while delinquencies decreased slightly.
- The EU recovery remains fragile despite measures like ECB bond purchases. Second quarter GDP growth of 0.3% missed targets as France stagnated and other major economies saw slower growth.
- Other topics covered include expectations for the timing of US interest rate rises, high stock valuations, trade balances of various countries, and the impact of sustained low oil prices on the global economy.
OJP data from firms like Vicinity Jobs have emerged as a complement to traditional sources of labour demand data, such as the Job Vacancy and Wages Survey (JVWS). Ibrahim Abuallail, PhD Candidate, University of Ottawa, presented research relating to bias in OJPs and a proposed approach to effectively adjust OJP data to complement existing official data (such as from the JVWS) and improve the measurement of labour demand.
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
Vicinity Jobs’ data includes more than three million 2023 OJPs and thousands of skills. Most skills appear in less than 0.02% of job postings, so most postings rely on a small subset of commonly used terms, like teamwork.
Laura Adkins-Hackett, Economist, LMIC, and Sukriti Trehan, Data Scientist, LMIC, presented their research exploring trends in the skills listed in OJPs to develop a deeper understanding of in-demand skills. This research project uses pointwise mutual information and other methods to extract more information about common skills from the relationships between skills, occupations and regions.
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
term1.pdf
1. 1
Abstract
This paper aim to examine the GDP of Nepal. GDP is related to the economic growth of country.
Economic Growth is a quantity terms as it represents quantitative increase in production of goods
and services. GDP is the market value of all final goods and services produced in a domestic
territory. Both GDP and GNP contribute to economic growth of country but in this paper we only
study GDP of Nepal. In this paper we study of GDP from different activities from Annual Year
2018 to 2022.Although Nepal is improving in GDP. In the year 2022 Nepal GDP is $40.15 billion.
But If we compare Nepal’s GDP to the China and India and Australia it shows Nepal is a far way
in the name of Economic growth. In the year 2022 China GDP is $17.73 trillion. In the year 2022
India GDP is $ 3.5 trillion and if we look to the Australia GDP in the year 2022 $1.7 trillion.
Although Nepal territory is not as large as China and India but in terms of growth and development
Nepal is still backward to the rest of world. In Nepal economic activities are very less.
Approximately 66% of the total population relied on the agricultural sector for their livelihood.
Similarly Remittance is second priority of people in Nepal.
Nepal is a unique country with big markets in the neighbors India and China but remains as one
of the poor landlocked developing countries, even being the earlier entrant in liberalization and
reform. Nepal recently went through a substantial political transition and now the stable
government is seeking substantial amount of foreign direct investment. In this background, it will
be better, for a good policy analysis, to know how the financial activities have played the role in
highly intended economic growth. Paudel, R., & Acharya, C. P. (2020).
Public spending accelerates both physical and human capital over time. In the short term,
appropriate public spending on health, manufacturing, transportation, human capital, and
communication all could boost up economic growth (Balaj & Lani2017). Nepal also is a
developing country so it must focused on public spending.
2. 2
Introduction
When did economic growth begin? A traditional view holds that economic growth began with the
Industrial Revolution around 1800. Recent work has challenged this view pushing the date of the
onset of growth back. Crafts (1983, 1985) and Harley (1982) revised downward previous estimates
of growth in Britain during the Industrial Revolution. These new estimates indicate that British
output per capita was larger by the mid-18th century than was previously thought implying that
substantial growth must have occurred at an earlier date (see also Crafts and Harley, 1992).
Acemoglu, Johnson, and Robinson (2005) argue that a First Great Divergence occurred starting
around 1500 with Western Europe growing apart from other areas of the world following the
discovery of the Americas and the sea route to India. They support this view with data on
urbanization rates. Broad berry et al. (2015) argue that growth began even earlier than this. They
present new estimates of GDP per person for Britain back to 1270. These data show slow but
steady growth in GDP per person from the beginning of their sample. Finally, Kremer (1993) uses
world population estimates to argue for positive but glacially slow growth for hundreds of
thousands of years
Economic growth is the process whereby the real per capita income of the country increases over
a long period of time. Economic growth enables the economy to produce more goods and services
and thereby raises the standard of living of the people at the country. Economic growth is an
increase in the production of economic goods and services in one period of time compared with a
previous period.. Economic growth is the name of more production which is measured in terms of
an increase in real gross national product over a time or an increase in per capita income.
Economic growth is the increase in the production of goods and services in an economy. Increase
in capital goods labor force technology and human capital can all contribute to economic growth.
Economic growth refers to an increase in the real output of goods and services in the country. It
brings quantitative changes in the economy. Economic growth is a more relevantmetric for
progress in developed countries but it is widely used in all countries because growth is a necessary
condition for development. Growth is concerned with increase in the economy’s output. Economic
growth is measured in terms Gross National Product(GDP) and Gross Domestic product(GDP).
Simon Kuznets. An expert in statistics, mathematics and economics, he developed a standard way
of measuring the gross national product or GNP of the US. It would give an idea of just how much
goods and services were produced by American-owned companies, whether at home or abroad. A
few years later, Kuznets also developed GDP.
GDP was the sum of the value of all goods and services produced in a country each year (and,
unlike GNP, excluded the value of US-owned facilities abroad). It could be measured either by
adding the value of all finished goods and services, and subtracting the cost of intermediary
products, or you could find it by adding up all salaries, profits and investment incomes.
The most common way to calculate it was the so-called “expenditure approach”. It calculates total
GDP as: Gross Domestic Product = Consumption + Government Expenditure + Private Investment
+ Exports – Imports
3. 3
(From an economic perspective, all those sums should add up to the same: aggregate production =
aggregate income = aggregate expenditure.)
Kuznets’ invention was a stroke of genius. It summarized in one number the economic strength of
the entire nation and gave policymakers hints on to how to improve it. During the remainder of the
1930s, other economists helped standardize and popularize it, and by the time the Bretton Woods
conference was held in 1944, GDP was confirmed as the main tool for measuring economies
around the world.
Since then, GDP has become something of a talisman. When GDP is growing, it gives people and
companies hope, and when it declines, governments pull out all the policy stops to reverse the
trend. Although there were crises and setbacks, the story of the overall global economy was one
of growth, so the notion that GDP growth is good, reigned supreme.
In the 30 or so years after the Second World War, reporting GDP was a recurring triumph,
especially in the West. It was the “Golden Era of Capitalism” in America, the “Wirtschaftswunder”
in Germany, and the “Trente Glorieuses” in France. Nominal GDP growth could reach 10% or
more, and in real, inflation-adjusted terms still often topped 5%.
But there is a painful end to this story, and we could have foreseen it had we better listened to
Kuznets himself. In 1934, long before the Bretton Woods Agreement – and before even the scepter
of war – Kuznets warned US Congress not to focus too narrowly on GNP or GDP: “The welfare
of a nation can scarcely be inferred from a measure of national income,” he said.
This assessment proved prescient. GDP tells us about aggregate consumption, but it does not tell
us about personal well-being. It tells us about production, but not about the pollution that comes
with it, or the depletion of natural resources it requires. It tells us about government expenditure
and private investments, but not about the quality of life they generate.
Oxford economist Diane Coyle told us in a recent interview that, in reality, GDP was “a war-time
metric.” It tells you what your economy can produce when you’re at war – as was the case in the
early 1940s – but it does not tell you how you can make people happy when you’re at peace. It
tells you how valuable trees are when you cut them down and turn them into fences or benches,
but not what they’re worth when left standing.
Despite early warnings from its inventor, GDP conquered the world. Everything was done to prop
up its growth. Roads and highways were built, personal consumption encouraged, industry and
transportation were subsidized, and so on. But, starting in the 1970s, the GDP growth story did
start to cool down, first in the West, then globally.
But, as global annual GDP peaked, our ecological footprint did so too, leading to an ecological
deficit. Forests were cut to make way for agriculture and industry, oceans were depleted of their
fish stocks, and fossil fuels were burned and polluted the air, leading to climate change. In the
short-term that lead to growth, in the long-term it damaged our health, wealth and well-being.
4. 4
To reinvigorate GDP growth in the 1980s, governments liberalized industries and opened to trade,
in the hopes it would spur competition, and unleash a new wave of economic growth. That did
happen at first, but by the 2000s, its side effects became clear: rising market concentration and a
declining labour share of income. Median incomes stagnated, and public services worsened.
The result is that the magic formula of GDP growth now seems exhausted. In the West, GDP does
not grow like it used to, and well-being stopped increasing a long time ago. A feeling of permanent
crisis has taken hold of societies, and perhaps with good reason. As Kuznets knew, we never should
have made GDP growth the singular focus of policymaking. Alas, that is where we are today.
GDP is the market value of all final goods and services produced within the domestic territory of
a country during a particular time period. GDP measures the monetary value of final goods and
services that is those that are bought by the final user produced in a country in a given period of
time. It counts all of the output generated within the boarders of a country. GDP is composed of
goods and services produced for sale in the market and also includes some non -market production
such as defense or education services provides by the government. If depreciation subtracted from
GDP we get net domestic product.
GDP can be measured in terms of Real GDP or Nominal GDP. To determine real GDP its nominal
value must be adjusted to take in account its nominal value must be adjusted to take in account
price changes to allow us to see whether the vaue of output has gone up because more is being
produced or simply because prices have increased. A statistical tool called the price deflator is used
to adjust GDP from nominal to constant prices.
GDP is important because it gives information about the size of the economy and how an economy
is performing. The growth rate of real GDP is often used as an indicator of the general health of
the economy. In broad terms an increase in real GDP is interpreted as a sign that the economy is
doing well. When real GDP is growing strongly employment is likely to be increasing as
companies hire more workers for their factories and people have more money in their pockets.
When GDP is shrinking as it did in many countries during the recent global economic crisis
employment often declines.
An increase in exports increases GDP because they bring in more revenue from foreign nations
through the goods that are exported. Imports, on the other hand, do not affect GDP since they are
not produced domestically. Net exports, like exports, also increase GDP so long as they are
positive. If they are negative they will decrease GDP.
5. 5
GDP of different province of Nepal
Nepal has seven province. Province one has 14 districts. Province 2 which is called Madesh
province has 8 districts. Province 3 which is also called Bagmati province has 13 districts. Province
4 which is Gandaki province has 11 districts. Lumbini province is province 5 which has 12
districts. Karnali province is province 6 and it has 10 districts and sudurpachim province has 9
districts which is province number 5.
Agriculture is the primary economic activity in Province No. 1, with the majority of the population
engaged in farming. It has significant tourism potential due to its natural beauty and cultural
heritage. It has a growing industrial sector, with several large and small-scale industries operating
in the province. It has a strategic location, bordering India in the south and Tibet Autonomous
Region of China in the north. It has been investing in developing its infrastructure, including roads,
airports, and hydropower projects. Agriculture and forest is the mainstay of Madesh province
economy, providing a livelihood for three-fourths of the population. Industrial activity mainly
involves the processing of agricultural produce including jute, sugarcane, tobacco, and grain
Bagmati is leading in GDP among all others province. Bagmati’s growth is helped by key
economic activities like administrative and support services, finance and insurance, real estate and
professional, and scientific and technical. Agriculture and tourism is the mainstay of Gandaki
province.
Agriculture, forest and tourism are the mainstay of Lumbini province economy. Agriculture and
forest is the mainstay of province economy, providing a livelihood for three-fourths of the
population. Industrial activity in the Karnali province accounts very low. Agriculture and forest is
the mainstay of province economy, providing a livelihood for three-fourths of the population.
Industrial activity in the province accounts very low.
Figure:1 GDP of different province in the year 2022.
15.7
13.3
36.9
8.9
14.1
4.1
7
GDP Of Different Province
Province 1 Madesh Bagmati Gandaki Lumbini Karnali Sudurpachim
6. 6
The pie chart illustrates how different is GDP in different Province percentage wise in the year
2021/22. Pie chart compare GDP produce by seven province. Overall Bagmati province has
highest GDP as it has mostly urban areas and the economic activities are occurring in more range
while Karnali province has lowest GDP as it has mostly rural areas and economic activities are
occurring in less range.
Looking at the information in more detail we can see that Province 1 has 15.7% of GDP which is
second highest GDP after Bagmati province. Similarly Madesh province has 13.3 % of GDP.
Bagmati province has highest GDP by producing 36.9% of GDP. However Gandaki province has
8.9% of GDP. Lumbini province has 14.1 % of GDP. By contrast Karnali province has lowest GDP
by producing precisely 4.1% of GDP and Sudurpachim province produce 7% of GDP which is
second lowest GDP.
7. 7
Objective of study
The core objectives of the study is to analysis current GDP situation of Nepal. Besides that the
objectives of study are:
• To know the different economic activities of Nepal
• To be familiar with Government Policies.
• To know the status of economic growth.
• To gain the knowledge of GDP and economic growth.
• To know the GDP of Nepal from the basis year 2018-2022.
• To know GDP of Nepal and its components.
Limitation of study
• The major limitation of the project can be discussed below:
• The paper is based on secondary data.
• The study only focus on GDP and Economic growth.
• The study is limited on websites, books and magazine.
• This study don’t analyze every details of economic activities.
• This study only analyze data from the year 2018-2022 and it don’t include the data before
2018.
8. 8
GDP of Nepal:
For the past two years, the economy affected by the Covid-19 pandemic has moved in the direction
of normalization. Overall economic activities, including industrial production and trade business,
are gradually returning to normal. In addition to domestic demand, there has been a higher increase
in both exports and imports. However, the economy is heading towards bigger challenges
following the endorsement of Replacement Bill in late September, damage in paddy production
due unseasonal rains in November, rising prices of petroleum products, liquidity crunch in the
financial sector and declining foreign exchange reserves. The expansion of industry and service
sector is expected to be satisfactory despite the adverse conditions witnessed in the external sector.
Nepalese economy is expected to expand by 5.84 percent in FY 2021/22 following the gradual
normalization of socio-economic activities due to gradual diminishing of Covid19 impact and
encouraging expansion of energy sector. In addition, Nepal's economic growth at basic prices is
estimated to be 5.49 percent. In FY 2019/20, the economic growth was negative by 2.37 percentage
as compared to 4.25 percentage in the previous fiscal year. In FY 2021/22, total value added of
agriculture and non-agriculture sector is estimated to increase by 2.30 percent and 6.88 percent
respectively. In the last fiscal year, the total value added of agriculture sector increased by 2.85
percent while the total value added of non-agricultural sector increased by 4.25 percent. Despite
the decline in paddy production by 8.7 percent in FY 2021/22, the total value addition of the
agriculture sector is expected to grow due to the increase in the total value addition of fisheries
sector. In the nonagricultural sector, the growth rate of total value addition in most sectors
including electricity and gas, housing and food, construction, industry, mining and health sector is
estimated to be higher than the last fiscal year.
The growth rates of primary sector, secondary sector and service sector are estimated to be 2.4
percent, 10.3 percent and 5.9 percent respectively in 2021/22. Such growth rates were 3.0 percent,
4.4 percent and 4.2 percent respectively in FY 2020/21. Average growth rates for the primary,
secondary and service sectors over the last decade were 2.8 percent, 5.3 percent and 4.7 percent
respectively. The average growth rate in the six years after the earthquake is higher than in the last
ten years.
The GDP of Nepal has improve in 2022 however it was declining in the year 2019. There are
various sector which contribute the GDP of Nepal.
9. 9
Figure:2 GDP from different activities of annual year 2018-19
In the year 2018/2019 the GDP is almost increasing there isn’t any economic activities which is
declining. In the year 2018/2019 Mining has highest of GDP followed by Accomodation and food
service activities with 9.91% f GDP whereas water supply has the lowest of GDP.
• Agriculture Forestry and Fishing has 5.26% of GDP.
• Mining has 17.62 % of GDP.
• Manufacturing has 6.52% of GDP.
• Electricity, gas, stream and air conditioning supply 9.61 % of GDP.
• Water Supply has 1.22% of GDP.
• Construction has 7.48% of GDP.
• Wholesale and retail trade has 8.11% of GDP.
• Transportation and storage has 8.77% of GDP.
• Accomodation and food service activities has 9.92% of GDP.
• Information and Communication has 7.05% of GDP.
• Financial and Insurance has 6.35% of GDP.
• Real estate activities has 3.75 of GDP.
5.16
17.62
6.52
9.61
1.22
7.488.118.779.92
7.056.353.755.616.445.125.986.695.925.16 6.9
0
2
4
6
8
10
12
14
16
18
20
PERCENTAGE
INDUSTRIAL CLASSIFICATION
GDP From Different Activities Of Annual
Year2018/19
10. 10
• Professional, scientific and technical activities has 5.61% of GDP.
• Administrative and Support service activities has 6.44%of GDP .
• Public Administration and defense has 5.12% of GDP.
• Education has 5.98% of GDP.
• Human health and social work activities has 6.69% of GDP .
• Arts and entertainment has 5.92% of GDP.
• Agriculture, Foresty and Fishing has 5.16% of GDP.
• And Non Agriculture has 6.90 of GDP.
Figure:3 GDP from different activities of annual year 2019-2020
In the year 2019/20 all the economic activities are declining as the covid pandemic hit the world
and so as the country as to suffers from it. The mostly affected activities is Accomodation and food
service activities by -36.28% followed by transportation and storage with -11.79% and most
unaffected activities is Electricity, gas, steam, and air conditioning supply by holding 19.1%.
• Agriculture Forestry and Fishing has 2.43% of GDP.
• Mining has negative which is -2.23%of GDP.
• Likewise, Manufacturing has also negative -9.03% of GDP.
• Electricity, gas, steam and air conditioning supply has 19.51% of GDP.
• Water supply has 2.15% of GDP.
• Construction has -4.39% of GDP.
• Wholesale and retail activities has-11.39% of GDP which is negative.
2.43
-2.23-9.03
19.51
2.15
-4.39
-11.39
-11.79
-36.78
2.02
-0.35
2.081.522.196.16 3.2 5.2 1.772.43
-4.42
-40
-30
-20
-10
0
10
20
30
PERCENTAGE
INDUSTRIAL CLASSIFICATION
GDP From Different Activities Of Annual Year
2019/20
11. 11
• Transportation and storage has -11.79 % of GDP which is also negative.
• Accomodation and food service activities has -36.78% of GDP.
• Information and Communication has2.02% of GDP.
• Financial and insurance activities has -0.35% of GDP.
• Real estate activities has 2.08% of GDP.
• Professional, scientific and technical activities 1.52% of GDP.
• Administrative and support service activities has 2.19% of GDP.
• Public administration and defense has 2.19% of GDP.
• Education has of 6.16% of GDP.
• Human health and social work activities has 3.20 % of GDP
• n Arts and Entertainment has 5.20 % of GDP.
• Agriculture Forestry and Fishing has 1.77 % of GDP.
• Non agriculture has 2.43 % of GDP.
Figure:4 GDP from different activities of annual year 2020-2021
Despite of Corona pandemic in the previous year every economic activities seem to be declining.
In the year 2020/21 as pandemic situation seems to be normal all the economic activities seems
to be positive. Accomodation and service activities has the highest GDP with 10.73% followed by
mining with 7.5% of GDP and Electricity, gas, stream and air conditioning has lowest GDP with
1.49%.
• Agriculture Forestry and Fishing has 2.85% of GDP.
• Mining has 7.50 % of GDP.
2.85
7.5
4.14
2.57 1.49
5.19 5.74
4.43
10.73
1.77
4.05
2.25 2.37 2.3 3.38 3.92
6.6
3.38 2.85
4.26
0
2
4
6
8
10
12
PERCENTAGE
INDUSTRIAL CLASSIFICATION
GDP From Different Activities Of Annual
Year 2020/21
12. 12
• Manufacturing has 4.14% of GDP.
• Electricity, gas, steam and air conditioning supply has 2.57% of GDP.
• Water supply has1.49% of GDP.
• Construction has 5.19% of GDP.
• Wholesale and retail activities has 5.74% of GDP.
• Transportation and storage has 4.43 % of GDP.
• Accomodation and food service activities has 10.73% of GDP.
• Information and Communication has 1.77% of GDP.
• Financial and insurance activities has 4.05% of GDP.
• Professional, scientific and technical activities has 2.37% of GDP.
• Administrative and support service activities has 2.30% of GDP.
• Public administration and defense has 3.38% of GDP.
• Education has 3.92% of GDP.
• Human health and social work activities has 6.60% of GDP
• Arts and Entertaiment has 3.38% of GDP.
• Agriculture Forestry and Fishing has 2.85% of GDP.
• Non agriculture has 4.26% of GDP.
Figure:5 GDP from different activities of annual 2021-2022.
2.3
8.15
6.14
36.67
0.72
9.51 9.12
4.54
11.42
3.58
6.06
3.82 3.78 4.4 4.05 4.08
6.91
3.79 2.3
6.88
2
0
5
10
15
20
25
30
35
40
PERCENTAGES
INDUSTRIAL CLASSIFICATION
GDP From Different Activities Of Annual Year
2021/22
13. 13
The graph shows Nepal has rising GDP similar to the previous year. Nepal export electricity in the
year 2021/2022 to India. In the year 2021-2022 the electricity, gas stream and air conditioning
supply has highest GDP with 36.67% of GDP followed by Accomodation and food service activities
with 11.42% of GDP and water supply has lowest GDP with 0.72% of GDP.
• Agriculture Forestry and Fishing has 2.30% of GDP.
• Mining has 8.15% of GDP.
• Manufacturing has 6.14% of GDP.
• Electricity, gas, steam and air conditioning supply has 36.67% of GDP.
• Water Supply has 0.72% of GDP.
• Construction has 9.15% of GDP which is negative.
• Transportation and storage has 4.54 % of GDP which is also negative.
• Accomodation and food service activities has 11.42% of GDP.
• Information and Communication has 3.58% of GDP.
• Real estate activities has 3.82% of GDP.
• Professional, scientific and technical activities has 3.78% of GDP.
• Administrative and support service activities has 4.40 % of GDP.
• Public administration and defense has 4.05% of GDP.
• Human health and social work activities has 6.91% of GDP
• Arts and Entertainment has 3.79% of GDP.
• Agriculture Forestry and Fishing has 2.30 % of GDP.
• Non agriculture has 6.88 % of GDP.
14. 14
Figure:6 GDP after taxes and subsidies from the year 2018-2022
The line graph above shows the GDP in the different years starting from 2018 to 2022. The GDP
are presented in percentage and four genre year are presented from 2018 to 2022. The annual year
2018/19 has the highest GDP holding 6.66% of GDP but in 2019/20 has declined GDP with -
2.37%. Although in the year 2019/20 the GDP is decreasing in the year 2020/21 the GDP rise to
the 4.25%. In the year 2021/22 it is also rise to the 5.84%. All genre year GDP is positive and
rising exception of 2019/20 which shows slightly decline. But recent year shows positive and rose
GDP which is positive sign to Nepal.
Conclusion
The study has analyzed the GDP of Nepal (2018-2022) coming from different economic activities.
Nepal economy isn’t the major economic as we compare to the rest of the world. Nepal ranks 153rd
among the richest in the world and if we see the economic activities it is difficult to find large
activities like electricity supply and scientific and technical activities. The study shows that water
supply has lowest GDP among all of economic activities so we should improve in water supply.
Similarly, government of Nepal should focus on spending more on public expenditure so that
Nepal will be one of the major economy in the world.
6.66
-2.37
4.25
5.84
-3
-2
-1
0
1
2
3
4
5
6
7
8
2018/19 2019/20 2020/21 2021/22
PERCENTAGES
YEAR
GDP from 2018-2022