Gross domestic product (GDP) is the standard measure of the value added created through the production of goods and services in a country during a certain period |
GDP growth is 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 |
GDP per capita is the GDP divided by the midyear population and considered as a measure of the standard of living in a country or the level of economic development |
Real GDP per capita is a measurement of the total economic output of a country divided by the number of people and adjusted for inflation. It’s used to compare the standard of living between countries and over time |
Per capita Gross National Product (GNP) comprises the gross domestic product (GDP), plus net factor income from abroad, which is the income residents receive from abroad for factor services (labour and capital) less similar payments made to non-residents who contributed to the domestic economy |
Gross National Income (GNI) is defined as gross domestic product, plus net receipts from abroad of compensation of employees, property income and net taxes less subsidies on production |
Economic recession refers to two consecutive quarters of decline in a country’s real gross domestic product (GDP) |
Economic downturn refers to a significant decline in economic activity spread across the economy, lasting more than a few months |
Under 5 mortality rate refers to the probability a newborn would die before reaching exactly 5Â years of age. The under-five mortality rate includes neonatal (28Â days) and infant (one year) deaths per 1000 live births |
Maternal mortality refers to the death of a woman during pregnancy, at delivery, or soon after delivery |