Assessment of the Availability of Data from International and National Sources Data for this indicator is generally available. The openness of a country's economy can be derived from national accounts data on exports and imports of goods and services, and GDP in national currency terms. However, when the official exchange rate is significantly appreciated or depreciated in real terms, the openness indicator derived from national accounts data may be distorted. In such cases, the indicator can be computed from the balance of payments data on exports and imports in US dollars and GDP data converted to US dollars at the implicit exchange rate, effectively applied to actual foreign exchange transactions.
An upward trend of EDP would imply a more sustainable economic growth. It also helps to identify the major sources of sustainable growth. Thus, trends in aggregate EDP and changes in the structural contributions to EDP provide the best measure of growth and structural change from a sustainable development viewpoint.
It can help set economic instruments for internalizing the budgets of households and enterprises in order to encourage microeconomic behaviour towards environmentally sound production and consumption. A number of factors other than produced and natural capital may affect the sustainability of trends of EDP. They include technological progress, discovery of natural resources, changes in production and consumption patterns, natural and man-made disasters, inflation, debt level and the productivity of human and institutional "capital".
It is also linked to other indicators which measure domestic product. Methodological Description and Underlying Definitions EDP is one of the results of the compilation of environmental accounts.
However, conceptually, the methodology has yet to be fully developed and widely accepted. One aspect of the calculation of EDP consists of the valuation of environmental costs such as degradation and depletion of water, air, forests, and wilderness species.
These costs are imputed costs and therefore represent estimates of the costs that would have been incurred to keep the natural environment intact during the accounting period. Alternatively, this indicator can be calculated by adding environmentally adjusted final demand categories of consumption, net capital accumulation and net exports and dividing by total population of the country.
Environmentally adjusted value added is the contribution to EDP by economic sectors. Another alternative indicator is represented by the savings rate as proposed by the World Bank. It is calculated using the same data, it reflects both natural and human capital, and is analytically powerful. Other satellite accounts, such as resource stocks, waste outputs, and environmental protection expenditures, offer less aggregated measures, but may be more useful and acceptable to countries.
Assessment of the Availability of Data from National and International Sources Environment statistics data, such as stocks and changes in stocks of natural resources, emissions in physical terms, data on market prices, and costs of the extraction of natural resources, provide the basic information necessary for the compilation of environmentally adjusted value added and EDP. Data on emissions or emission coefficients are generally not available in developing countries.
Data sources tend to be disparate, but typically include the following agencies: statistical offices; and ministries of agriculture, environment, forestry, fisheries, planning, construction. Agencies Involved in the Development of the Indicator The United Nations Statistical Division UNSD is the lead agency and is continuing to carry out several country projects in integrated environmental and economic accounting.
Integrated Environmental and Economic Accounting. Environmental Accounting: An Operational Perspective.
Working Paper No. Indicator a Name: Shared of manufactured goods in total merchandise exports. Significance Policy Relevance a Purpose: The indicator is meant to represent one aspect of international cooperation, namely a country's access to and participation in the global markets for manufactured goods.
Largely stable earnings from exports of manufactures are an important source of resources for investment in sustainable forms of development. However, export strategies must be considered within the context of domestic development priorities.
Trends in the indicator are important for individual countries and for cross-country comparisons. Methodological Description and Underlying Definitions a Underlying Definitions and Concepts: The elements of the indicator that require definition are the total value of merchandise exports; and the value of exports of those product categories that can be considered to form the trade equivalent to production of manufactured goods. The first element is uniformly defined in international trade statistics.
The basic concepts involved in the definitions of the two elements are readily available from standard documentation on international trade statistics see section 7 below. As with any attempt to classify manufactured goods, limitations arise from imprecisions in the present definitions of the SITC.
Assessment of the Availability of Data from International and National Sources a Data Needed to Compile the Indicator: Only summary international trade statistics are needed to compile the indicator. The most recent country information can usually be obtained from national statistical institutions.
Per capita GDP is typically expressed in local current currency, local constant currency or a standard unit of currency in international markets, such as the U. GDP per capita is an important indicator of economic performance and a useful unit to make cross-country comparisons of average living standards and economic wellbeing. However, GDP per capita is not a measure of personal income and using it for cross-country comparisons also has some known weaknesses.
In particular, GDP per capita does not take into account income distribution in a country. In addition, cross-country comparisons based on the U.
The table below shows the GDP per capita in current U. Looking for forecasts? FocusEconomics Consensus Forecasts cover approx. Get Details. The economy contracted a heavy 4. Read more. According to a preliminary reading, GDP growth lost momentum in the third quarter, falling to 7. Major Economies. South-Eastern Europe. Similar differences in household disposable income per capita relative to GDP per capita can also be seen in other countries where foreign affiliates play an important role in overall GDP and that have only limited outward foreign investment such as Hungary and the Czech Republic.
Switzerland also sees falls in its household income vs GDP ranking, partly because of the relatively large number of cross-border workers. Note: Data refer to for household adjusted disposable income for Mexico, New Zealand, and Switzerland. Developments in household disposable income per capita can also differ significantly from developments in GDP per capita.
Many factors can also contribute to diverging patterns of growth between household disposable income and GDP, for instance, declining shares of compensation of employees in value-added, and rising shares of profits retained by corporations. And in real terms, differences in consumer price inflation and changes in the GDP deflator, reflecting in part evolutions in terms of trade, can also contribute to divergences.
Differences in tax and redistribution policy can also play a significant role. Prior to the global financial crisis , real economic growth in many countries outpaced growth in real household disposable income, figure 2, panel 1. But countries hit hardest by the crisis saw real household disposable income contract at a faster pace than GDP figure 2, panel 2. Figure 2. Real GDP and real household disposable income, per capita.
Note: In panel 1, average annual growth rates for Mexico In panel 2, average annual growth rates for New Zealand and Switzerland Gross domestic product GDP is the standard measure of the value added generated through the production of goods and services in a country during a certain period.
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