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Real value of gross domestic product and terms of trade: methodology and results for 2018

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  • Wolfgang Nierhaus

Abstract

In addition to the real gross domestic product, the German Federal Statistical Office also publishes the real value of the gross domestic product. The two key indicators differ in their terms-of-trade effect. In the result for 2018, the German economy sustained a terms-of-trade loss for the second time in a row. This translates into a drop of 12.1 billion euros in the real value of the gross domestic product.

Suggested Citation

  • Wolfgang Nierhaus, 2019. "Real value of gross domestic product and terms of trade: methodology and results for 2018," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 72(04), pages 44-52, February.
    • Handle: RePEc:ces:ifosdt:v:72:y:2019:i:04:p:44-52
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    References listed on IDEAS

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    1. Mick Silver & Khashayar Mahdavy, 1989. "The Measurement of a Nation's Terms of Trade Effect and Real National Disposable Income Within a National Accounting Framework," Journal of the Royal Statistical Society Series A, Royal Statistical Society, vol. 152(1), pages 87-107, January.
    2. Marshall B. Reinsdorf, 2010. "Terms Of Trade Effects: Theory And Measurement," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(s1), pages 177-205, June.
    3. Klaus Abberger & Wolfgang Nierhaus, 2018. "Terms of Trade and Trading Gain in Germany and Switzerland: A Country Comparison," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 71(06), pages 38-42, March.
    4. 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.
    5. 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.
    6. Ryan Macdonald, 2010. "Real Gross Domestic Income, Relative Prices, And Economic Performance Across The Oecd," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 56(3), pages 498-518, September.
    7. Ulrich Kohli, 2006. "Real GDP, Real GDI and Trading Gains: Canada, 1981-2005," International Productivity Monitor, Centre for the Study of Living Standards, vol. 13, pages 46-56, Fall.
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    Cited by:

    1. Wolfgang Nierhaus, 2021. "Real Value of Gross Domestic Product and Terms of Trade: Results for 2020," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 74(02), pages 55-60, February.
    2. Wolfgang Nierhaus, 2020. "Real Value of Gross Domestic Product and Terms of Trade: Results for 2019," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 73(03), pages 55-57, March.

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    JEL classification:

    • H61 - Public Economics - - National Budget, Deficit, and Debt - - - Budget; Budget Systems
    • F30 - International Economics - - International Finance - - - General
    • F41 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Open Economy Macroeconomics

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