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Economic Growth Rate Calculator

Just enter last year's and this year's GDP to instantly compute the economic growth rate (year over year). Works with both nominal and real GDP, and adding the number of years gives you the multi-year compound annual growth rate (CAGR).

Input

GDP type

trillion
trillion
yr

Enter 2 or more years to also compute the multi-year compound annual growth rate (CAGR).

Result

Nominal economic growth rate

+2.91%

This shows positive growth versus the previous year

Previous-year GDP

$550.00

Change

+$16.00

Current-year GDP

$566.00

How it works

  • The economic growth rate is calculated as (current-year GDP − previous-year GDP) ÷ previous-year GDP × 100. A positive value means positive growth, a negative value means negative growth.
  • Toggle between "Nominal GDP" and "Real GDP" with the buttons. The real growth rate (excluding price changes) and the nominal growth rate (including prices) are derived with the same formula.
  • Enter the previous-year (base) GDP and the current-year GDP to automatically show the growth rate (%) and the change. As long as the units match, you get the same result whether you use trillions or billions.
  • Enter 2 or more years to also compute the compound annual growth rate (CAGR), smoothed over the period. The formula is ((current-year GDP ÷ previous-year GDP) ^ (1 ÷ years) − 1) × 100.
  • The average annual growth rate assumes constant growth each year from start to end, so year-to-year fluctuations during the period are smoothed out.
  • Note: displayed values are rounded approximations. They may differ from official statistics due to aggregation methods or revisions. Check published data from official sources for actual figures.