This table provides metadata for the actual indicator available from Vanuatu statistics closest to the corresponding global SDG indicator. Please note that even when the global SDG indicator is fully available from Vanuatuan statistics, this table should be consulted for information on national methodology and other Vanuatu-specific metadata information.
| Definition |
GDP growth refers to the increase in the Gross Domestic Product (GDP) of a country over a specific period of time, typically measured on an annual basis. It represents the rate at which the total value of goods and services produced within an economy is expanding. GDP growth is a key indicator of economic health and is influenced by factors such as consumer spending, investment, government expenditure, and net exports. Positive GDP growth generally signifies economic expansion, while negative growth indicates economic contraction or recession. |
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| Concept |
The concept behind the indicator “GDP growth” is to measure the rate at which an economy is expanding or contracting over a specific period. It provides a quantitative assessment of the overall economic performance of a country by capturing the increase or decrease in the value of goods and services produced within its borders. GDP growth is an essential tool for assessing economic health, identifying trends, comparing performance across countries, and informing policy decisions. It reflects the combined impact of various factors, including consumer spending, business investment, government expenditure, and net exports, providing an overview of the overall economic activity and output of a nation. |
| Disaggregation |
By Sectors and Industry |
| Rationale |
Monitoring GDP growth annually allows policymakers, businesses, and economists to gauge the overall health and performance of an economy, identify trends, make informed decisions, and assess the effectiveness of economic policies |
| Method of Computation |
The method of computation for annual GDP growth involves comparing the GDP values of an economy between two different periods (typically one year apart) and calculating the percentage change in GDP over that period using the formula: GDP growth rate = ((GDP at the end of the period - GDP at the start of the period) / GDP at the start of the period) * 100. |
| Sustainable Development Goal Indicator Alignment |
8.1 8.1.1 (R) (Tier 1) |
| Unit of Measurement |
Percentage |
| Frequency of Collection |
Annual |