What Is Nominal GDP?
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Nominal GDP is gross domestic product measured at current prices. It is commonly used to compare the size of economies.
The related data links are centered on Ethiopia.
In Short
Nominal GDP includes inflation, so it is useful for comparing economic size, but real GDP is better for judging underlying growth.
How It Is Used
It is widely used for measuring economic size, the revenue base of governments, and debt ratios. In markets it often appears in ‘which economy is larger’ comparisons.
How To Read It
It is heavily affected by exchange rates and inflation. On its own, it is not the best measure of real economic momentum.