Statistics and GDP (PIB)

[Davidglen77]

Since a lot of statistics are thrown around during official speeches, and very often the GDP (gross domestic product) or PIB (producto interno bruto) are so often mentioned I decided to do some low level resarch. I found this list and it shows the PBI of many countries around the world compared with US states, and believe it or not, the state of Massachusets has a higher PBI than all of Argentina. If this info is true, Argentina really needs to start upping their production.......thoughts?
http://en.wikipedia.org/wiki/Comparison_between_U.S._states_and_countries_by_GDP_(nominal)

 

[solerboy]

I am not sure how the GDP is calculated.

But it seems to me, if you have inflation at around 30%. you would need an increase in GDP of 31% to have made any progress ?

Or is inflation taken into account in the published GDP ?

If so, which rate of inflation the "officail" inflation or the "blue" inflation ?

 

[nicoenarg]

I am not sure how the GDP is calculated.

But it seems to me, if you have inflation at around 30%. you would need an increase in GDP of 31% to have made any progress ?

Or is inflation taken into account in the published GDP ?

If so, which rate of inflation the "officail" inflation or the "blue" inflation ?

Most economic institutions use the official numbers. Its a general practice. I think inflation is taken into account but I'm not completely sure.

 

[LostinBA]

I am not sure how the GDP is calculated.

But it seems to me, if you have inflation at around 30%. you would need an increase in GDP of 31% to have made any progress ?

Or is inflation taken into account in the published GDP ?

If so, which rate of inflation the "officail" inflation or the "blue" inflation ?

Internal consumption (consumer spending) is factored into GDP. It's usually a very large contributor followed by business spending. That's why CFK keeps creating new statutory holidays so that people go shopping.

 

[lamarque]

I am not sure how the GDP is calculated.

But it seems to me, if you have inflation at around 30%. you would need an increase in GDP of 31% to have made any progress ?

Or is inflation taken into account in the published GDP ?

If so, which rate of inflation the "officail" inflation or the "blue" inflation ?

No is not like that, i don't remember right now how was exactly the way to calculate it but you can Google and find how the gdp is calculated.
The other thing is that is not the same gdp to gdp PPA this second one is more important, and other factor is that as more than half of the economy go in black in this country then you are only measuring half or less of the real economy, is a number that doesn't say that much but is good for some quick conclusions, probably you should multiply by 2 or even more anyway in country’s where the black market is really big. Anyway i have to check that, lonnggg time that i don't read about gdp and how to calculate it.
Anyway the wikipedia page is not a good place to search updated info, and remember the gdp is directly related to the quantity of population and economical movement of a person, that why even when china is a very poor country as they are 1.300 millon hab they rank in a very good position for example.