What is GDP? How is it worked out? What are the GDP of last 3 years of India? 

GDP (Gross Domestic Product) - is an indicator (or measure) of the state of a country's economy - how vibrant, weak or strong or healthy it is. 

GDP is the total market value of all goods and services produced in a country over time (usually a financial year - and the beginning and end of each country's financial years will of course, differ, even though they are all worked out over a period of 12 months. 

GDP is calculated by means of the following equation: 

GDP = consumption + gross investment + government spending + (exports − imports), or, 
GDP = C + I + G + (X-M) 


From the equation above, it is clear that GDP is a reflection of capital flow into, within and out of a country (because the equation is made up of exports - imports, gross investment, goverment spending, etc. 

As far as India is concerned, together with countries like China and Russia, it is one of the fastest growing economies in the world, with rapid and significant growth (across each of the last few financial years) in GDP, with real growth (in terms of GDP) of just under 10 % (which is phenomenal.) India is the second biggest growing economy in the world. 

Here are the GDP figures for India over the last 3 years: 


1. GDP of US $1.50 trillion (2008) 

2. GDP (purchasing power parity):
$2.965 trillion (2007 est.) 
GDP (official exchange rate):
$1.09 trillion (2007 est.) 
GDP - real growth rate:
8.5% (2007 est.) 
GDP - per capita (PPP):
$2,700 (2007 est.) 
GDP - composition by sector: 


https://www.cia.gov/library/publications... 

Agriculture: 16.6% 
Industry: 28.4% 
Services: 55% (2007 est.) 
Richest GDP Countries 2006: Amounts Per Country 

3. Richest GDP Countries 2006: Amounts Per Country 

1. United States … $13 trillion in international$ (up 3.3% from 2005) 
2. China … $10 trillion (up 10.7%) 
3. Japan … $4.17 trillion (up 2.2%) 
4. India … $4.16 trillion (up 9.2%) 
5. Germany … $2.6 trillion (up 2.7%) 
6. United Kingdom … $2.1 trillion (up 2.7%) 
7. France … $1.9 trillion (up 2%) 
8. Italy … $1.8 trillion (up 1.9%) 
9. Russia … $1.72 trillion (up 6.7%) 
10. Brazil … $1.70 trillion (up 3.7%) 
11. Mexico … $1.17 trillion (up 4.8%) 
12. Canada … $1.16 trillion (up 2.7%) 
While the U.S. is tops in GDP, America also ran trade deficits with each of the other countries listed above. This makes a strong case for the fact that the U.S. consumes much more than it produces, at least in terms of trade with these major partners. 

Richest GDP Countries 2006: 

Fastest Growing 

Overall, the world economy’s GDP grew by 5.1% in 2006 – a higher rate than 7 of the richest GDP countries listed above. 
China, India and Russia show the highest annual GDP increases among the above countries. This is a trend that the International Monetary Fund (IMF) expects to continue for at least 2 more years. 
Other countries with significant GDP growth in 2006 were Latvia (up 11% from 2005), Estonia (up 10.9%), Argentina (up 8.5%), Slovakia (up 8.3%), Lithuania (up 7.8%) and Romania (up 7.2%). 
While the above statistics present GDP by country, the following list takes into consideration each country’s population. These numbers are known as GDP per capita. 
Richest GDP Countries 2006: 

Per Capita 
1. United States … $43,444 in international$ (up 5.5% from 2005) 
2. Canada … $35,494 (up 5.1%) 
3. United Kingdom … $35,051 (up 5.2%) 
4. Japan … $32,647 (up 5.7%) 
5. Germany … $31,095 (up 5.2%) 
6. Italy … $30,732 (up 4.2%) 
7. France … $30,693 (up 4.8%) 
8. Russia … $12,096 (up 10.1%) 
9. Mexico … $11,249 (up 6%) 
10. Brazil … $9,108 (up 5.2%) 
11. China … $7,598 (up 12.7%) 
12. India … $3,737 (up 9.8%) 
China, Russia and India had the fastest GDP growth per capita in 2006 from the prior year.