"Annual Gross Domestic Product Growth Rate refers to the growth rate of a country or region's GDP in one year relative to the same period of the previous year. This is one of the important indicators for measuring economic growth. Usually expressed as a percentage.
The formula for calculating the annual growth rate of GDP is:
(GDP of the current year - GDP of the previous year) / GDP of the previous year × 100%
For example, if a country had a GDP of $100 billion in the previous year and a GDP of $110 billion in the current year, the annual growth rate of the country's GDP would be:
(1100 - 1000) / 1000 × 100% = 10%
The annual growth rate of GDP is important for both economic analysis and policy making. A high annual growth rate indicates that the economy of the country or region is growing, and vice versa indicates that the economy is shrinking. When analyzing the trend of economic growth, it is also necessary to consider the influence of factors such as inflation and population growth. In addition, the annual growth rate of GDP can also be used to compare the economic growth of different countries or regions.
In short, the annual growth rate of GDP is one of the important indicators of a country or region's economic growth, which can reflect the speed and trend of its economic development. In economic analysis and policy formulation, the annual growth rate of GDP is widely used to assess economic conditions and formulate corresponding control measures. "