GDP -OUTPUT

Econ 102Fall 2013

Real and Nominal GDP(At Current and Fixed (1998) Prices) (New Series)

(Annual, TRY Thousand

GDP REAL at 1998 prices

Nominal and Real GDP of Turkey

Growth rate of GDP

Composition of GDP• GDP Billion TL• GDP (Y) 1.294,9• Private consumption Exp. (C ) 920,8• Private Sector Investment (I) 234,6• Stock Changes (I) 25,1• Government consumption exp (G) 180,7• Public Sector Investment (G) 48,6• İhracat (X) 308,3• İthalat (M) 423,1

Example_Nominal GDP• Year 2010 Year 2011 Year 2012• • Quantity Price Quantity Price Quantity Price• Food 1000 1.0 TL 1200 2.0TL 1300 2.75TL• Health care 50 100.0 TL 55 110.0TL 60 120.TL• Movies 500 50.0 TL 510 60.0TL 530 70.0TL• • • P2010xQ2010 P2011xQ2011 P2012xQ2012

• • Food 1000 TL 2400 TL 3575TL• Health care 5000 TL 6050 TL 7200TL• Movies 25000 TL 30600 TL 37100TL• • Nominal 31000 TL 39050 TL 47875 TL• GDP

Example_Real GDP• Year 2010 Year 2011 Year 2012• • Quantity Price Quantity Price Quantity Price• Food 1000 1.0 TL 1200 2.0TL 1300 2.75TL• Health care 50 100.0 TL 55 110.0TL 60 120.TL• Movies 500 50.0 TL 510 60.0TL 530 70.0TL•

• P2010xQ2010 P2010xQ2011 P2010xQ2012

• • Food 1000 TL 1200 TL 1300TL• Health care 5000 TL 5500 TL 6000TL• Movies 25000 TL 25000 TL 26500TL• • Real GDP 31000 TL 32 200 TL 33 800TL•

•

Growth rate• Growth rate 2011• =((Real GDP2011 – Real GDP 2010)/Real GDP2010)x100 • = (32200-31000)/ 31000)x100= 0.0387x100=3.87 %.•• • • Growth rate 2012

– = ((Real GDP2012 – Real GDP 2011)/ Real GDP2011)x100• • = (33 800-32 200)/ 32200)x100= 0.0496x100=4.96 %.• •

GDP deflator and Inflation rate• GDP Deflatort= (Nominal GDPt/ Real GDPt)x100.

• Inflation ratet= % change in the GDP deflator

PRICES

GDP DEFLATOR• GDP Deflatort=

(Nominal GDPt/ Real GDPt)x100

GDP DEFLATOR

Inflation rate

Inflation rate

• Inflation ratet= % change in the

GDP deflator

Inflation rate

Other Income Measures

1) Gross National Product: GDP- net factor income.2) Net National Product: GNP- depreciation expenditure

3) National Income: GDP- Indirect Business Taxes4) Personal Income: National Income-retained earnings

+transfer payments.

5) Disposable Income: Personal Income- -Personal Tax payments

GDP and GNP

GDP, Personal Income and Disposable Income

Consumer Price Index _ TUFETÜFE’de aylık değişim %-0,90 olarak gerçekleşti.

The increase in the prices of different commodity groups included into the computation of CPI in Turkey.•eğitimde %1,67,(increase in price of education)

•eğlence ve kültürde %0,90, (increase in price of entertainment and cultural activities)

•çeşitli mal ve hizmetlerde %0,88, (increase in price of various commodity and services)

•ev eşyasında %0,49, (increase in price of home goods)

•lokanta ve otellerde %0,49, (increase in price of restaurants and hotels)

•konutta %0,14, (increase in price of housing)

•sağlıkta %0,13 artış, (increase in price of health services)

•giyim ve ayakkabıda %-0,82, (increase in price of clothing and shoes)

•ulaştırmada %-1,39, (increase in price of transportation) •gıda ve alkolsüz içeceklerde %-3,42 düşüş gerçekleşmiştir. (decrease in price of food and non-alcoholic beverages)

CPI (TUFE) in Turkey (with base year of 2003, i.e. 2003=100)

CPI Series in Turkey

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