8.1.1 Annual Growth Rate of Real GDP (per capita)
Target 8.1 Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countries
Goal 8: Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Custodian Organization: UN Statistics Division (UNSD)
Tier Classification: Tier I
To facilitate the implementation of the global indicator framework, all indicators are classified by the IAEG-SDGs (Inter-Agency and Expert Group on Sustainable Development Goals Indicators) into three tiers on the basis of their level of methodological development and the availability of data at the global level, as follows:
Tier I: Indicator is conceptually clear, has an internationally established methodology and standards are available, and data are regularly produced by countries for at least 50 per cent of countries and of the population in every region where the indicator is relevant.
Tier II: Indicator is conceptually clear, has an internationally established methodology and standards are available, but data are not regularly produced by countries.
Tier III: No internationally established methodology or standards are yet available for the indicator, but methodology/standards are being (or will be) developed or tested.
Definition: Annual growth rate of real Gross Domestic Product (GDP) per capita is calculated as the percentage change in the real GDP per capita between two consecutive years. Real GDP per capita is calculated by dividing GDP at constant prices by the population of a country or area. The data for real GDP are measured in constant US dollars to facilitate the calculation of regional and global aggregates.
Concepts: GDP measures the monetary value of final goods and services produced in an economic territory/country in a given period of time (say a quarter or a year). It is calculated without making deductions for depreciation of produced assets or for depletion and degradation of natural resources. GDP can be measured using the expenditure approach as the sum of expenditure on final consumption plus gross capital formation plus exports less imports, the production approach as the value of output less intermediate consumption plus any taxes less subsidies on products not already included in the value of output, or the income approach as compensation of employees plus gross operating surplus plus gross mixed incomes plus taxes less subsidies on both production and imports.
Rationale: Real Gross Domestic Product (GDP) per capita is a proxy for the average standard of living of residents in a country or area. A positive percentage change in annual real GDP per capita can be interpreted as an increase in the average standard of living of the residents in a country or area.
Limitations: Although countries or areas calculate GDP using the common principles and recommendations in the United Nations System of National Accounts (SNA), there are still problems in international comparability of GDP estimates. These include: a. Different versions of the SNA (for example, 1968, 1993 or 2008) countries or areas use in calculating their GDP estimates
- Different degree of coverage of informal and non-observed economic activities in the GDP estimates
Further, as a necessary condition to being a key economic performance indicator of sustainable development, one of the often-cited limitations of GDP is that it does not account for the social and environmental costs of production. It is designed as a measure of the level of overall well-being. For example, growth in real GDP per capita reveals nothing concerning energy and material interactions with the environment.
Data Source: Data for this indicator was primarily collected from the United Nations Statistics Division’s Open SDG Data Hub. National level data from the UN Statistics Division is compiled by the respective custodian for the SDG indicator, unless otherwise noted. To learn more about the data used in this portal, visit the about page.
Data is accurate as of October 31, 2018.
8.1.1 Annual Growth Rate of Real GDP (per capita) Sustainable Development Goals
8. Promote inclusive and sustainable economic growth, employment and decent work for all
Roughly half the world’s population still lives on the equivalent of about US$2 a day. And in too many places, having a job doesn’t guarantee the ability to escape from poverty. This slow and uneven progress requires us to rethink and retool our economic and social policies aimed at eradicating poverty.
A continued lack of decent work opportunities, insufficient investments and under-consumption lead to an erosion of the basic social contract underlying democratic societies: that all must share in progress. . The creation of quality jobs will remain a major challenge for almost all economies well beyond 2015.
Sustainable economic growth will require societies to create the conditions that allow people to have quality jobs that stimulate the economy while not harming the environment. Job opportunities and decent working conditions are also required for the whole working age population.
Related 8.1.1 Annual Growth Rate of Real GDP (per capita)Targets
Sustain per capita economic growth in accordance with national circumstances and, in particular, at least 7 per cent gross domestic product growth per annum in the least developed countries