Formula To Calculate GDP (Gross Domestic Product):

The GDP has four components: personal consumption, business investment, government spending, and net trade.

GDP = personal consumption + gross investment + government consumption + net exports of goods and services

Formula To Calculate GNP (Gross national product) :

GNP is similar to GDP in that it is the market value of all products and services produced in a year through the labor and property supplied by the country citizens.

GNP = employee compensation + proprietors' income + rental income + corporate profits + interest income

GDP = GNP + indirect business taxes + depreciation + net income of foreigners

The above formuals is belongs to resource cost-income approach.

Formula To Calculate GDP Deflator :

It is a measure of the level of prices of all new, domestically produced, final goods and services in an economy in a year. Also, it is considered to be a relatively better measure of GDP.

GDP Deflator = Nominal GDPReal GDP ^{× 100}

Where,

Nominal GDP (not adjusted for inflation) of a given year is computed using that year prices,

While the real GDP(adjusted for inflation) of that year is computed using the base years prices.

GDP Deflator is a factor by which normal GDP is adjusted to calculate Real GDP.

To know the GDP deflator (base year varies by country). Click Here. - It redirects you to official website of The World Bank

Formula To Calculate GDP Growth Rate :

Growth rate measures how fast the economy is growing of a country. The rate compares the most recent quarter of the country economic output to the previous quarter.

GDP growth rate = (GDP in current period - GDP in the previous period)GDP in the previous period ^{× 100}

The GDP growth rate indicates how quickly the economy is growing or shrinking.

Formula To Calculate Real GDP :

Real GDP is a measure of GDP that adjusts for inflation and deflation. This is as opposed to nominal GDP which measures GDP based on unadjusted prices. Real GDP generally measures an economys actual value more accurately than nominal GDP.

Real GDP = Nominal GDPGDP deflator ^{× 100}