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Real Value of Gross Domestic Product and Terms of Trade: Results for 2016

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  • Wolfgang Nierhaus

Abstract

In addition to statistics on real gross domestic product, the German Federal Statistics Office also publishes the real value of gross domestic product. Both key indicators differ in the terms-of-trade-effect. On annual average, the real value of gross domestic product increased by 2.4% in 2016, while real gross domestic product, by contrast, grew by 1.9%. The purchasing power of domestically created income as measured by growth rates in the real value of GDP increased to a far greater extent than domestic economic output as measured by the rate of change in real GDP.

Suggested Citation

  • Wolfgang Nierhaus, 2017. "Real Value of Gross Domestic Product and Terms of Trade: Results for 2016," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 70(03), pages 46-50, February.
    • Handle: RePEc:ces:ifosdt:v:70:y:2017:i:03:p:46-50
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    References listed on IDEAS

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    1. Kohli, Ulrich, 2004. "Real GDP, real domestic income, and terms-of-trade changes," Journal of International Economics, Elsevier, vol. 62(1), pages 83-106, January.
    2. Gutmann, Pierre, 1981. "The Measurement of Terms of Trade Effects," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 27(4), pages 433-453, December.
    3. Ulrich Kohli, 2004. "An Implicit Törnqvist Index of Real GDP," Journal of Productivity Analysis, Springer, vol. 21(3), pages 337-353, May.
    4. Wolfgang Nierhaus, 2000. "Real income in the new European System of Accounts," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 53(04), pages 07-13, February.
    5. Pierre Gutmann, 1981. "The Measurement Of Terms Of Trade Effects," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 27(4), pages 433-453, December.
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    1. Wolfgang Nierhaus, 2018. "Real Value of Gross Domestic Product and Terms of Trade: Results for 2017," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 71(04), pages 39-43, February.
    2. Nierhaus. Wolfgang, 2017. "Quarterly Real Value of GDP and Terms of Trade: Oil Price Increase Dampens Expansion," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 70(09), pages 39-42, May.

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