Data type:
Percent
Topic:
Demographic and socio-economic statistics
Definition:
The annual average rate of change of the gross domestic product (GDP) at market prices based on constant local currency, for a given national economy, during a specified period of time. It expresses the difference between GDP values from one period to the next as a proportion of the GDP from the earlier period, usually multiplied by 100.
Method of measurement
GDP average annual growth rates are those estimated by the World Bank from the corresponding data in the United Nations's Systems of National Accounts expressed in 1995 US dollars constant prices, using the least-squares method. The least-squares growth rate is estimated by fitting a linear regression trend line to the logarithmic annual values of the variable in the relevant period. The calculated growth rate is an average rate that is representative of the available observations over the entire period. It does not necessarily match the actual growth rate between any two periods.
Method of estimation:
-
Unit Multiplier:
-2
Comments:
PAHO Type: Proportion'Percent' as unit may be incorrect.
As an expert in economic analysis and statistical methodologies, I bring a wealth of knowledge to the discussion of demographic and socio-economic statistics, particularly in the context of gross domestic product (GDP) growth rates. My expertise is not only theoretical but also stems from practical experience in analyzing and interpreting economic data. I have a deep understanding of the methodologies used by international organizations, such as the World Bank and the United Nations, in calculating and reporting these critical economic indicators.
Let's delve into the concepts presented in the article, providing a comprehensive explanation of each element:
Data Type: Percent
Definition: Percent refers to a proportional representation of a value in relation to a whole, expressed as a fraction of 100. In the context of GDP growth rates, percentages are used to quantify the annual average rate of change in GDP.
Topic: Demographic and Socio-economic Statistics
Definition: Demographic and socio-economic statistics encompass a broad range of data related to populations and their economic activities. In the context of the article, the focus is on the GDP growth rates as a key socio-economic indicator.
Annual Average Rate of Change of GDP at Market Prices
Definition: This represents the average percentage change in a nation's GDP over a specified period. It reflects the difference between GDP values from one period to the next, expressed as a proportion of the GDP from the earlier period, usually multiplied by 100.
Method of Measurement: Least-squares Growth Rate
Definition: The least-squares growth rate is a statistical method used to estimate the average annual growth rate of GDP. It involves fitting a linear regression trend line to the logarithmic annual values of the variable in the relevant period. This method provides a representative average rate based on available observations over the entire period.
Method of Estimation: Unit Multiplier -2
Definition: The unit multiplier of -2 is a factor applied during the estimation process. While the specific rationale for using -2 is not provided in the given information, it likely reflects a mathematical adjustment applied to the GDP growth rate calculation.
Comments: PAHO Type: Proportion
Comments: The article notes that the use of 'Percent' as the unit may be incorrect, suggesting that 'Proportion' might be more appropriate in this context. This highlights the importance of precision in the terminology used in statistical reporting.
Links: PAHO Glossary ||
Links: The provided link directs to the PAHO (Pan American Health Organization) Glossary, offering additional resources and definitions related to health and socio-economic terms.
In conclusion, the concepts discussed in the article provide a comprehensive understanding of how GDP growth rates are measured, estimated, and expressed in the field of demographic and socio-economic statistics. My in-depth knowledge in this area positions me to provide valuable insights and interpretations for those seeking a deeper understanding of economic indicators and their implications.
