all make use of GDP figures to determine the nature of their relationship with each country. The calculation of GDP, real and nominal, is hinged on what is referred to as the base year.

Unlike real GDP, nominal GDP uses current market prices and doesn't factor inflation into its calculation. Real GDP is a macroeconomic statistic that measures the value of the goods and services ...

Multi-language suite for high-performance solvers of differential equations and scientific machine learning (SciML) components. Ordinary differential equations (ODEs), stochastic differential ...

GDP is the sum of consumer spending, business spending, government spending, and total exports, minus total imports. The calculation for factoring in inflation to arrive at the real GDP figure is ...

The National Bureau of Statistics (NBS) announced plans to include illicit activities like pr0stitution and drug sales in Nigeria's GDP calculation Political analyst Hamma Hayatu condemned the move as ...

Trade was a drag on growth in the period, with imports, which subtract from the GDP calculation, off 0.8%. Exports also declined 0.8%. Gross private domestic investment slumped by 5.6% ...

It’s worth noting that imports, which are subtracted from the GDP calculation, were revised downward. The growth in real GDP during the first quarter can be attributed to several factors.