Economics Performance
1
The economic performance of one country measured by some macroeconomics phenomenon such as gross domestic product, rate of growth, national income, unemployment rate, inflation and price levels. The change of this phenomenon indicates the economic performance of a specific country. We will select Indian economy to conduct our analysis on economics performance. India is the world’s second most populous and tenth largest economy. As India is one of the largest economies and populous country, here has a big portion of world’s GDP and huge macroeconomics challenges. Production Output Performance Analysis:
GDP analysis is one of the good ways to measure a country’s economic performance.
We select Indian’s economy to conduct our analysis. The following table provider approximate figures regarding various facts of India’s gross domestic product (GDP).
Year
GDP (in current prices) in Real GDP Growth GDP (in terms of billion US dollars
Rate
PPP) in billion US dollars 2003
591
6.90%
1935.1
2004
688.7
7.60%
2157.4
2005
808.7
9.00%
2431.2
2006
908.5
9.50%
2748.9
2007
1152.8
10.00%
3111.3
2008
1251.4
6.20%
3377.1
2009
1254
6.60%
3637.2
2010
1597.9
10.60%
4069.9
2011
1676.1
7.20%
4457.8
2012
1799.3
6.9%
4824.6
2013
1961.7
7.3%
5254.6
In India, GDP growth rate measures the change in the seasonally adjusted value of the goods and services produced by the Indian economy during the decade. By observing the last ten year’s real GDP growth rate, it’ overall GDP growth rate is approximately
2
8.78%. Its highest GDP growth rate was 10.60% in year 2010 and 6.20% considered as lowest in year 2008 during the last 10 years. The present economy of India is moving towards several crises such as reducing GDP growth rate, continuous devaluation of national currency, and effective rates of inflation.
The most important and the rapid growing sector of Indian economy are services.
India’s 60% of GDP share comes from service sector like trade,
The economic performance of one country measured by some macroeconomics phenomenon such as gross domestic product, rate of growth, national income, unemployment rate, inflation and price levels. The change of this phenomenon indicates the economic performance of a specific country. We will select Indian economy to conduct our analysis on economics performance. India is the world’s second most populous and tenth largest economy. As India is one of the largest economies and populous country, here has a big portion of world’s GDP and huge macroeconomics challenges. Production Output Performance Analysis:
GDP analysis is one of the good ways to measure a country’s economic performance.
We select Indian’s economy to conduct our analysis. The following table provider approximate figures regarding various facts of India’s gross domestic product (GDP).
Year
GDP (in current prices) in Real GDP Growth GDP (in terms of billion US dollars
Rate
PPP) in billion US dollars 2003
591
6.90%
1935.1
2004
688.7
7.60%
2157.4
2005
808.7
9.00%
2431.2
2006
908.5
9.50%
2748.9
2007
1152.8
10.00%
3111.3
2008
1251.4
6.20%
3377.1
2009
1254
6.60%
3637.2
2010
1597.9
10.60%
4069.9
2011
1676.1
7.20%
4457.8
2012
1799.3
6.9%
4824.6
2013
1961.7
7.3%
5254.6
In India, GDP growth rate measures the change in the seasonally adjusted value of the goods and services produced by the Indian economy during the decade. By observing the last ten year’s real GDP growth rate, it’ overall GDP growth rate is approximately
2
8.78%. Its highest GDP growth rate was 10.60% in year 2010 and 6.20% considered as lowest in year 2008 during the last 10 years. The present economy of India is moving towards several crises such as reducing GDP growth rate, continuous devaluation of national currency, and effective rates of inflation.
The most important and the rapid growing sector of Indian economy are services.
India’s 60% of GDP share comes from service sector like trade,
References: http://data.worldbank.org/country/india India Unemployment Rate (1983-2015), Retrieved from Trading economics. http://business.mapsofindia.com/inflation/ India macroeconomics summary, (1999-00 to 2014-15), Retrieved from