Real GDP Calculator
It is expressed in relation to an index point in time (for example, “2010 dollars”).
Real GDP = (Nominal GDP / GDP deflator) x 100
In a country, nominal GDP is $1,000,000 and the GDP deflator is 125.
Real GDP = ($1,000,000 / 125) x 100 = $8,000 x 100 = $8,000,000
Therefore, real GDP is $8,000,000.
- Khan Academy – Real GDP and Nominal GDP – Part of a course on Macroeconomics. A video explaining the differences between real and nominal GDP. The series includes how to calculate one from the other.
- Wikipedia – Real Gross Domestic Product – A basic explanation of real GDP and examples of how it is used.
- The University of Minnesota – Principles of Macroeconomics – Growth of Real GDP and Business Cycles – An overview of how Real GDP has grown through recent history. Includes an overview of the business cycle as well.
- Cliffs Notes – Nominal GDP, Real GDP, and Price Level – A summary of different GDP methods and how to calculate between them.
- OECD – Real GDP Forecast – OECD country data including real GDP forecasts.