Question

According to Acirema Stat, for the year 2016, private final consumption expenditure in Acirema amounted to...

According to Acirema Stat, for the year 2016, private final consumption expenditure in Acirema amounted to 179130 mio, general government final consumption expenditure to 79798 mio, gross fixed capital formation to 77985 mio and changes in inventories to 4799 mio. Besides, the total value of Acireman exports of goods and services for that year equals 295645 mio, while the total value of Acireman imports of goods and services equals 292681 mio.

(a) Compute the Acireman GDP for 2016.
(b) What share of GDP does each component represent?

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Answer #1

a)

C =   Final consumption expenditure by households = 179130

G =   Final consumption expenditure by general government = 79,798

I   =   Gross capital formation (GFCF+ change in inventories) = 77985 - 4799 = 73,186

X = Export = 295,645

M = Import = 292,681

GDP = C + I + G + (X - M)

         = 179,130 + 73,186 + 79,798 +(295,645 - 292,681)

         = 335,078

b) Share of C = (179,130 / 335,078) * 100 = 53.46%

    Share of I = (73,186 / 335,078) * 100 = 21.84%

    Share of G = (79,798 / 335,078) * 100 = 23.81%

    Share of net export = (2964 / 335,078) * 100 = 0.89%

   

     

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