Search: GDP
RBA Glossary definition for GDP
GDP – Gross Domestic Product. A key measure of the value of economic production in the economy. GDP is determined in one of three ways: the value of goods and services produced less the cost of production; the sum of incomes generated by production; the sum of final expenditure on goods and services produced plus exports minus imports. An average of the three approaches may be calculated and is also referred to as GDP.
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Appendix A: Data Sources
31 Dec 2001
RDP
2001-04
GDP weights are from the IMF World Economic Outlook (IMF 2001), constructed as annual national nominal GDP converted to US$ using OECD PPP exchange rates, then rescaled so that the sum
https://www.rba.gov.au/publications/rdp/2001/2001-04/appendix-a.html
Weighting Choices
31 Dec 2001
RDP
2001-04
For this reason, it is sometimes preferable to use weights based on countries' shares of world GDP. ... However, calculating GDP on a comparable basis requires conversion to a common currency – usually the US$.
https://www.rba.gov.au/publications/rdp/2001/2001-04/weighting-choices.html
The Implications of Different Exchange Rate Indices
31 Dec 2001
RDP
2001-04
0.0078. (3.151). 1.1709. (5.972). 0.5044. G7 GDP-weighted. 0.5237. (1.613). 0.2448. (3.409). ... 1.479). 0.0004. (0.592). 0.6550. G7 GDP-weighted. 1.6080. (2.809). 0.5126. (4.860). 0.6950.
https://www.rba.gov.au/publications/rdp/2001/2001-04/implications-of-different-exchange-rate-indices.html
Calculating a Real Exchange Rate Index
31 Dec 2001
RDP
2001-04
Similar arguments apply to other bases for weighting schemes, such as shares of world GDP or capital flows. ... GDP weights are converted to a common currency using OECD Purchasing Power Parities (PPP).
https://www.rba.gov.au/publications/rdp/2001/2001-04/calculating-a-real-exchange-rate-index.html