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Nominal vs. Real Value Calculator

Enter any two of nominal GDP, real GDP, and the GDP deflator, and the third is calculated automatically. Convert between nominal and real values to strip out the effect of price changes.

Input

Value to calculate

trillion

Result

Real value (real GDP)

529.87trillion

Nominal value (nominal GDP)

550 trillion

Real value (real GDP)

529.87 trillion

GDP deflator (base year = 100)

103.8

How it works

  • The nominal value (nominal GDP) is the amount measured at current market prices, while the real value (real GDP) is re-valued at base-year prices to remove the effect of price changes. Subtracting price increases lets you compare the true change in output or economic size.
  • The tool uses the relationships real = nominal / (GDP deflator / 100), nominal = real x (GDP deflator / 100), and GDP deflator = nominal / real x 100. The GDP deflator is a price index with the base year set to 100.
  • Use the toggle at the top to choose which of the real value, nominal value, or deflator you want to find, then enter the other two values. The input field for the selected item is hidden automatically and the result is shown in large type.
  • When the GDP deflator is above 100, prices have risen above the base year and the real value is smaller than the nominal value. When it is below 100, prices have fallen and the real value exceeds the nominal value.
  • Nominal and real values are assumed to be in trillions, but you can use any unit (billions, millions, etc.) as long as both use the same unit. The deflator is an index and has no unit.
  • This tool gives estimates based on the formulas above and is intended for learning and verification. For actual statistics, refer to official figures published by sources such as government agencies.