sources

{
    "link": "https://unstats.un.org/sdgs/indicators/database/",
    "retrievedDate": "15-November-19",
    "additionalInfo": "Last updated: March 2019 \n \n\nGoal 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment \nand decent work for all \nTarget 8.1: Sustain per capita economic growth in accordance with national circumstances and, in \nparticular, at least 7 per cent gross domestic product growth per annum in the least developed countries \nIndicator 8.1.1: Annual growth rate of real GDP per capita \n\n \n\nInstitutional information \n\nOrganization(s): \n\nUnited Nations Statistics Division (UNSD) \n\nConcepts and definitions \n\nDefinition: \nAnnual growth rate of real Gross Domestic Product (GDP) per capita is calculated as the percentage \nchange in the real GDP per capita between two consecutive years. Real GDP per capita is calculated by \ndividing GDP at constant prices by the population of a country or area. The data for real GDP are \nmeasured in constant US dollars to facilitate the calculation of country growth rates and aggregation of \nthe country data \n\nRationale: \nReal Gross Domestic Product (GDP) per capita is a proxy for the average standard of living of residents in \na country or area. \nA positive percentage change in annual real GDP per capita can be interpreted as an increase in the \naverage standard of living of the residents in a country or area \n\nConcepts: \nGross Domestic Product (GDP) measures the monetary value of final goods and services\u2014that is, those \nthat are bought by the final user\u2014produced in an economic territory country in a given period of time \n(say a quarter or a year). It is calculated without making deductions for depreciation of fabricated assets \nor for depletion and degradation of natural resources. GDP can be measured using the expenditure \napproach as the sum of expenditure on final consumption plus gross capital formation plus exports less \nimports, the production approach as the value of output less intermediate consumption plus any taxes \nless subsidies on products not already included in the value of output, or the income approach as \ncompensation of employees plus gross operating surplus plus gross mixed incomes plus taxes less \nsubsidies on both production and imports \n\nComments and limitations: \nAlthough countries or areas calculate GDP using the common principles and recommendations in the \nUnited Nations System of National Accounts (SNA), there are still problems in international comparability \nof GDP estimates. These include: \n\na.  Different versions of the SNA (for example, 1968, 1993 or 2008) countries or areas use in \n\ncalculating their GDP estimates \n\nb.  Different degree of coverage of informal and non-observed economic activities in the GDP \n\n \n\n \n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n\fLast updated: March 2019 \n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\nFurther, as a necessary condition to being a key economic performance indicator of sustainable \ndevelopment, one of the often-cited limitations of GDP is that it does not account for the social and \nenvironmental costs of production. It is designed as a measure of the level of overall well-being. For \nexample, growth in real GDP per capita reveals nothing concerning energy and material interactions with \nthe environment. \n\nestimates \n\nMethodology \n\nComputation Method: \nThe annual growth rate of real Gross Domestic Product (GDP) per capita is calculated as follows: \n\na.  Convert annual real GDP in domestic currency at 2010 prices for a country or area to US dollars \n\nat 2010 prices using the 2010 exchange rates. \n\nb.  Divide the result by the population of the country or area to obtain annual real GDP per capita in \n\nconstant US dollars at 2010 prices. \n\nc.  Calculate the annual growth rate of real GDP per capita in year t+1 using the following formula: \n\n[(G(t+1) \u2013 G(t))/G(t)] x 100, where G(t+1) is real GDP per capita in 2010 US dollars in year t+1 \nand G(t) is real GDP per capita in 2010 US dollars in year t. \n\nDisaggregation: \nIt is possible to disaggregate the country data by region, if countries can make available the underlying \nregional data which are consistent with the national accounts data to perform the disaggregation. \n\nTreatment of missing values: \n\n\u2022  At country level \n\nWhen a full set of official annual GDP data is not available, estimation procedures are employed to \nobtain estimates for the entire time series. When full data are not available, a hierarchy of other \ndata sources is used to gather information on the national accounts of a country or area. The data \ngathered are then either used directly or estimation procedures are applied to obtain the annual \nGDP data. \n\nIf official data are not available, the selection of data sources is based on following hierarchy: \na.  Official publications and websites of national statistical offices, central banks or relevant \n\ngovernment ministries; \n\nb.  Official statistics disseminated by Eurostat, European Central Bank and the Organization for \n\nEconomic Cooperation and Development (OECD) for their members; \nInformation provided by Permanent Missions to the United Nations; \n\nc. \nd.  Economic surveys and estimates prepared by United Nations\u2019 Regional Economic Commissions \n\n(i.e. UNECE, ECLAC, ESCAP, UNECA and ESCWA); \n\ne.  Publications of international organizations with a strong focus on statistical data collection \n\n(including regional development banks). The most common sources used for their respective \ncountries are listed below: Asia: Asian Development Bank, ASEAN, Arab Monetary Fund, \nSecretariat of the Pacific Community (SPC) Africa: African Development Bank, Afristat, Banque \ndes Etats de l\u2019Afrique Centrale (BEAC), Union Economique Monetaire Ouest Africain (UEMOA) \nAmericas: CARICOM, Caribbean Development Bank, Eastern Caribbean Central Bank (ECCB) \n\n\fLast updated: March 2019 \n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\nOther: OECD for non-member countries Statistical Committee of the Commonwealth of \nIndependent States. \n\nf.  Estimates and indicators from other international organizations. The most common sources \n\nused are: the International Monetary Fund (IMF) and the World Bank; \n\ng.  Publications or websites of specialized groups, the most common sources used are: the Gulf \n\nCooperation Council, the Asia-Pacific Economic Cooperation (APEC), the Committee of Central \nBank Governors in SADC; the Islamic Development Bank, and the Statistical Training Centre for \nIslamic Countries; \n\nh.  Economic data from commercial providers and other sources, the most common sources used \n\ni. \n\nare: the Economic Intelligence Unit and the United States Central Intelligence Agency; \nInformation from neighbouring countries where no alternative source is available (Switzerland \nfor Liechtenstein; France for Monaco; Italy for San Marino; Spain for Andorra; and some Pacific \nIslands for other Pacific Islands); \n\nThe estimation methods involved in preparing the GDP estimates using sources other than official \ndata include trend extrapolation, using appropriate indices for inflating or deflating relevant data \nseries, and share distribution of GDP. A hierarchical assessment is followed to determine which \nmethod should be used. Effort is made to keep data estimation methods consistent from year to \nyear. \n\n\u2022  At regional and global levels \n\nAfter the missing real GDP country or area data are imputed using the methods as described \nabove, they are summed up to derive the respective regional or global aggregates and then \ndivided by the corresponding population data to obtain the regional or global real GDP per capita. \nAfter that, annual growth rates in regional or global real GDP per capita are calculated using the \nformula described above. \n\nRegional and global aggregates: \nFor each year, the real GDP and population estimates for each country or area are summed up to derive \nthe regional and global aggregates. The regional and global aggregates are then divided by the \ncorresponding population to derive the regional and global real GDP per capita estimates. These \nestimates are then used to calculate the annual growth rates in regional and global real GDP per capita \nusing the formula as described above. \n\nSources of discrepancies: \nThe differences with country data include the following: \n\na.  Official country data are typically available in domestic currency only. The data estimates \n\nfor this indicator are in US dollars. \n\nb.  Countries or areas may not have a full set of official GDP data. The GDP data estimated by UNSD \ninclude imputations using various estimation procedures as described above to obtain estimates \nfor the entire time series. \n\nc.  Official country data are often reported as multiple sets of time series versions, with each version \n\nrepresenting a unique methodology used to compile the national accounts data (for example, a \ndifference between two time series versions could reflect a change in currency, a switch from \n1968 SNA to 1993 SNA, a change in the office responsible for compiling national accounts, etc.). \nThese time series versions may not be comparable, especially when a country has shifted from \nthe 1968 SNA to 1993 SNA or 2008 SNA. When a single time series version does not exist for the \n\n\fLast updated: March 2019 \n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\nentire period (1970 to t-1), UNSD uses estimation procedures to backcast the most recently \nreported time series version. Backcasting is only performed when time series overlap for at least \none year. The overlapping year is used to create a ratio; this ratio is then applied backwards to \nthe previous time series version. If there is a change of fiscal year between two official data time \nseries, the older series are converted to the fiscal year type of the most recent time series prior \nto backcasting. UNSD uses the same backcasting methods when official country constant price \ntime series versions include multiple base years or when constant price time series versions are \nreported as constant prices of the previous year (CPPY). CPPY data are backcasted by using the \nofficially reported current price data and the officially reported constant price data. The data are \nbackcasted into a single series with a fixed base year. \n\nd.  The population estimates from the United Nations Population Division may be different from \n\ncountry-produce estimates as the former include analysis carried out to take into account \ndeficiencies such as incompleteness of coverage, lack of timeliness and errors in the reporting or \ncoding of the basic information and to establish past population trends by resolving the \ninconsistencies affecting the basic data. \n\nMethods and guidance available to countries for the compilation of the data at the national level: \n\n\u2022  GDP: National Accounts Statistics: Main Aggregates and Detailed Tables, 2017 \n\nSee https://unstats.un.org/unsd/nationalaccount/pubsDB.asp?pType=3 \n\n\u2022  Population: United Nations Demographic Yearbook \n\nSee: https://unstats.un.org/unsd/demographic-social/products/dyb/dybsets/2017.pdf \n\n\u2022  GDP: 2008 SNA \n\nSee https://unstats.un.org/unsd/nationalaccount/docs/SNA2008.pdf \n\n\u2022  Population: Principles and Recommendations for Population and Housing Censuses See \n\nhttps://unstats.un.org/unsd/publication/seriesM/Series_M67rev3en.pdf \n\nQuality assurance \nData are validated in accordance with the international statistical standards. \n\nDiscrepancies are resolved through written communication with countries. \n\nData Sources \n\nDescription: \nThe underlying annual GDP estimates in domestic currency are collected from countries or areas annually \nthrough a national accounts questionnaire (NAQ), while the underlying population estimates are \n\nobtained from the UN Population Division on \nhttps://population.un.org/wpp/Download/Standard/Populatio\nn/ \n\nCollection process: \nEach year, the national accounts section of the UNSD sends a pre-filled NAQ to countries or areas to \ncollect the latest data on official annual national accounts in domestic currency. In order to lighten the \nreporting burden of countries to different international and regional organizations the UNSD receives \ndata from the Organisation for Economic Co-operation and Development (OECD), the United Nations \nEconomic Commission for Europe (ECE) and the Caribbean Community (CARICOM) on behalf of their \n\n\fLast updated: March 2019 \n \n\nconstituents. \n\nThe official national accounts data in domestic currency are then validated to check for errors. The \nvalidation procedure involves ensuring that aggregates are equal to the sum of their components and \nthat data series which are provided in multiple tables are represented consistently. After that, the current \nand constant price GDP series are converted into US dollars by applying the corresponding market \nexchange rates as reported by the International Monetary Fund (IMF). When these conversion rates are \nnot available other IMF rates are used (official rates or principal rates). \n\nFor countries whose exchange rates are not reported by the IMF, the annual average of United Nations \noperational rates of exchange (UNOPs) is applied. The UNOPs are conversion rates that are applied in \nofficial transactions of the United Nations with these countries. These exchange rates are based on \nofficial, commercial and/or tourist rates of exchange. \n\nIn cases where a country experiences considerable distortion in the conversion rates, the UNSD uses \nprice-adjusted rates of exchange (PARE) as an alternative to the exchange rates reported by the IMF or \nUN operational rates of exchange. The conversion based on PARE corrects the distorting effects of \nuneven price changes that are not well reflected in the other conversion rates. Consequently, unrealistic \nlevels in GDP and other national accounts aggregates expressed in US Dollars may have been adjusted for \ncertain time periods to improve the economic analysis at national, regional and local levels. \n\nThe estimates derived for each year are compared to previous years to ensure that estimates are \nprepared consistently from year to year. Additionally, the growth rate from year to year is analysed to \nidentify anomalies in the data. \n \nThe constant-price GDP series for each country is then divided by its population to obtain its real GDP per \ncapita. \n \nMore information on the methodology to estimate the data is available on \nhttps://unstats.un.org/unsd/snaama/assets/pdf/methodology.pdf  \nData Availability \n\nDescription: \nNational statistics offices, central banks or national agencies responsible for compiling official national \naccounts estimates for a country or area \n\nTime series: \nAnnual data from 1970 to 2017 are available. \n\nCalendar \n\nData collection: \nThe exercise to collect official annual national accounts estimates from countries or areas using the \nnational accounts questionnaire starts in February of each year for the data available up to the end of the \nprevious year. \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n\fLast updated: March 2019 \n \n\nNational statistics offices, central banks or national agencies responsible for compiling official national \naccounts estimates for a country or area \n\nData release: \nDecember of each year \n\nData providers \n\nData compilers \n\nUnited Nations Statistics Division (UNSD) \n\nReferences \n\nURL: \nhttps://unstats.un.org/unsd/snaama/Index  \n \nReferences: \n\nhttp://unstats.un.org/unsd/nationalaccount/sna.asp \nhttp://unstats.un.org/unsd/nationalaccount/data.asp \nhttps://unstats.un.org/unsd/snaama/Index \nhttp://data.un.org/Explorer.aspx?d=SNAAMA \nhttps://population.un.org/wpp/ \n\nRelated indicators \n\nAny economic statistics related SDG indicator \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n \n\n\f",
    "dataPublishedBy": "United Nations Statistics Division",
    "dataPublisherSource": null
}