21, Nov 2009, CST. Welcome to the Major advanced economies (G7) economic statistics pages provided by the beta version of EconomyWatch.com’s Econ Stats database.

Economic Indicators For: Major advanced economies (G7) › Change country
Countries in this region: Canada, France, Germany, Italy, Japan, United Kingdom, United States

Overview: The G7 group of Major Advanced Economies is the 'Rich Mans Club'. Formerly the G6, which included the US, Japan, UK, Germany, France and Italy, Canada joined in 1976 to form the G7. These countries used to form the bulk of the world economy, but with the

Sources: International Monetary Fund (IMF)

GDP Growth (Constant Prices, National Currency) for Major advanced economies (G7) in year 2008 is 0.64 %. Annual percentages of constant price GDP are year-on-year changes; the base year is country-specific.

GDP (Current Prices, US Dollars) for Major advanced economies (G7) in year 2008 is US$ 32,220.55 Billion. Values are based upon GDP in national currency and the exchange rate projections provided by country economists for the group of other emerging market and developing countries. Exchanges rates for advanced economies are established in the WEO assumptions for each WEO exercise.

GDP Deflator for Major advanced economies (G7) in year 2008 is 115.679 (Index, Base Year as per country's accounts = 100). The GDP deflator is derived by dividing current price GDP by constant price GDP and is considered to be an alternate measure of inflation. Please note: Data are expressed in the base year of each country's national accounts.

Output Gap, Percent of Potential GDP for Major advanced economies (G7) in year 2008 is -0.192 %. Output gaps for advanced economies are calculated as actual GDP less potential GDP as a percent of potential GDP. Estimates of output gaps are subject to a significant margin of uncertainty. For a discussion of approaches to calculating potential output, see Paula R. De Masi, "IMF Estimates of Potential Output: Theory and Practice," in Staff Studies for the World Economic Outlook (Washington: IMF, December 1997), pp. 40-46.

GDP (PPP), US Dollars for Major advanced economies (G7) in year 2008 is US$ 29,008.18 Billion. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

GDP Per Capita (PPP), US Dollars for Major advanced economies (G7) in year 2008 is not available

GDP Share of World Total (PPP) for Major advanced economies (G7) in year 2008 is 42.124 %. These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. Please note: The IMF is not a primary source for purchasing power parity (PPP) data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurem

Investment (% of GDP) for Major advanced economies (G7) in year 2008 is not available

Gross National Savings (% of GDP) for Major advanced economies (G7) in year 2008 is not available

Inflation (Average Consumer Price Change %) for Major advanced economies (G7) in year 2008 is 3.188 %. Data for inflation are averages for the year, not end-of-period data.

Inflation (End of Year Change %) for Major advanced economies (G7) in year 2008 is 1.232 %. Data for inflation are end of the period, not annual average data.

Unemployment Rate (% of Labour Force) for Major advanced economies (G7) in year 2008 is 5.866 %.

Employment for Major advanced economies (G7) in year 2008 is 105.331 Million .

General Government Balance (% of GDP) for Major advanced economies (G7) in year 2008 is -4.65 %. Data are on a national income accounts basis. Please refer to Box A1 in the World Economic Outlook for a summary of the policy assumptions underlying the projections.

General Government Structural Balance (% Potential GDP) for Major advanced economies (G7) in year 2008 is -3.38 %. Data are on a national income accounts basis. The structural budget position is defined as the actual budget deficit (or surplus) less the effects of cyclical deviations of output from potential output. Because of the margin of uncertainty that attaches to estimates of cyclical gaps and to tax and expenditure elasticities with respect to national income, indicators of structural budget positions should be interpreted as broad orders of magnitude. Moreover, it is important to note that changes in structural budget balances are not necessarily attributable to policy changes but may reflect the built-in momentum of existing expenditure programs. In the period beyond that for which specific cons

Current Account Balance (US Dollars) for Major advanced economies (G7) in year 2008 is US$ -435.196 Billion. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.

Current Account Balance (% GDP) for Major advanced economies (G7) in year 2008 is -1.351 %. Balance of payments data are based upon the methodology of the 5th edition of the International Monetary Fund's Balance of Payments Manual (1993). Data for the world total reflects errors, omissions, and asymmetries in balance of payments statistics on current account, as well as the exclusion of data for international organizations and a limited number of countries. Calculated as the sum of the balance of individual countries.