GDP Calculator
Calculate GDP by the expenditure or income approach, plus real GDP and per capita.
Inputs
Private household spending on goods and services.
Business investment in equipment, structures, and inventories.
Government purchases (not transfer payments like Social Security).
Imports are subtracted because they were counted in C, I, or G.
Used to calculate GDP per capita. Leave 0 to skip.
Nominal GDP
21,300.00$ billion
Net Exports (X−M)
-200.00$ billion
GDP per Capita
64,545$
Consumption Share
65.7%
Step by step
Net exports (X − M)
3000 − 3200
= -200 $ billion
GDP = C + I + G + NX
14000 + 3500 + 4000 + -200
= 21300 $ billion
GDP per capita
21300B ÷ 330M people
= $64,545,450
How it works
GDP measures the total market value of final goods and services produced in an economy. The expenditure approach adds up all spending: GDP = C + I + G + (X − M). Imports are subtracted because they were already counted in C, I, or G. The income approach sums all incomes earned in production. Real GDP adjusts for inflation using the GDP deflator: Real GDP = (Nominal / Deflator) × 100.
Formulas
Expenditure approach
GDP = Consumption + Investment + Government Spending + Net Exports
- C
- Private consumption
- I
- Gross investment
- G
- Government purchases
- X
- Exports
- M
- Imports
Real GDP
Real GDP = (Nominal GDP / GDP Deflator) × 100
- Deflator
- GDP deflator (base year = 100)
Frequently Asked Questions
Why are imports subtracted in GDP?
Imports are not domestic production, but they have already been counted in consumption (C), investment (I), or government spending (G) when people buy foreign goods. Subtracting M corrects for that double-counting, ensuring only domestically produced output is included.
What is the GDP deflator?
The GDP deflator is the ratio of nominal GDP to real GDP, expressed as an index with the base year = 100. A deflator of 120 means the price level is 20% higher than the base year. Unlike CPI, the deflator covers all goods produced domestically, not just a consumer basket.
Does GDP include transfer payments?
No. Government transfer payments (Social Security, unemployment benefits, welfare) are not included in G because no goods or services are produced in return. Only government purchases of real goods and services count.
What is a typical US GDP composition?
In the US (2023 approximate): C ≈ 70%, I ≈ 18%, G ≈ 17%, NX ≈ −5%. The negative net exports reflect that the US imports more than it exports.