Much economic activity lies outside the GDP data.

As a result of the tsunami, the GDP contracted by about 3.6 in 2005.

The tourism sector continued to be the main economic driver, accounting for on average 25 per cent of economic output during the period.

In 2010, economic output was dominated by the service sector which accounted for 66 of GDP, followed by the industrial sector with 27.2 and agriculture accounting for 6.8 of GDP.

That way, the debt GDP ratio declines because the denominator (economic output) increases, not because the numerator (the total the government has borrowed) declines.

The resulting economic inequality a result of politics as much as market forces contributes to today s overall economic weakness.

As firms shed workers during the economic downturn, output fell more slowly.

Secondly, its dwindling workforce cannot sustain the economic output level that is maintained in the future.

Tourism is the primary economic activity, accounting for more than 60 per cent of GDP.

In terms of economic output, today s EU is on par with the US.

In Bhutan, the economic challenge is not growth in gross national product, but in gross national happiness (GNH).

NEW YORK The Greek financial saga is the tip of an iceberg of problems of public debt sustainability for many advanced economies, and not only the so called PIIGS (Portugal, Italy, Ireland, Greece, and Spain). Indeed, the OECD now estimates that public debt to GDP ratios in advanced economies will rise to an average of around 100 of GDP.

In 1750, Asia had three fifths of the world population and three fifths of the world s economic output.

The resulting higher tax rates distort economic incentives and thus weaken future economic performance.

The risks associated with inflation are probably less dangerous than those generated by collapsing output and the threat of deflation.

The economic performance of Sierra Leone remained stable and GDP increased to 7.4 per cent in 2004.

This additional economic activity will boost overall GDP growth, yielding significant new fiscal revenues.

With a return to output growth, the recession defined as two consecutive quarters of economic contraction is officially over.

Countries have long used national income accounts, with GDP as the main indicator, to describe economic performance.

So it is not clear what will occur to reverse the decline in GDP and end the economic downturn. Will a sharp dollar depreciation cause exports to rise and imports to fall?

After tourism, the next most important economic sector is financial services, accounting for some 15 of GDP.

The OECD region publishes details for only about 15 aggregates of GDP.

Its imbalances have gotten worse as well, with the investment share of GDP approaching 50 and private consumption falling below 35 of GDP.

The theory behind the massive economic stimulus efforts that many governments have undertaken rests on the notion of the output gap. This is the difference between an economy s actual output and its potential output.

But trade restrictions were a poor substitute for domestic reflationary measures, as they did little to arrest the downward spiral of output and prices.

In 2008, Africa s combined economic output reached 1.6 trillion, and consumer spending totaled 860 billion.

The share of net investment in GNP is now the second lowest in all OECD countries.

In many countries, economic output sank dramatically, more so than in Europe s west.

Nevertheless, the distribution of economic welfare produced by the market economy does not fit anyone s conception of the just or the best.

The private sector can spend less and save more, but this would entail an immediate cost known as Keynes paradox of thrift declining economic output and rising debt as a share of GDP.

Output grew by just 1.5 last year, and real GDP per capita is lower now than before the economic downturn began at the end of 2007.

France s current account deficit has risen to more than 2 of GDP, even as its economic growth has ground to a halt.

It is a safe prediction, given that Asia is already home to nearly 60 of the world s population and accounts for roughly 25 of global economic output.

With a large output gap and low inflationary pressure, expansionary policies show great potential for reviving economic activity.

In Egypt, the economic situation was more positive, with a GNP growth of 4.5 percent and a rapid growth of industry.

However, the smaller scale economic activity occurs in the informal sector and is not reflected in GDP data.

For the past 50 years, these affluent countries have dominated the global economy, producing four fifths of its economic output.

First, the economic challenge of controlling human induced climate change is truly complex.

All of these changes have in turn contributed to lower economy wide output and consumption volatility in both rich and developing countries.

The deceleration in GDP growth that such reforms would cause would be more than offset by increased market dynamism and overall economic stability.

Japan armed itself only lightly (restricting military expenditures to about 1 of GNP), and focused on economic growth.

The countries of the Organization for Economic Cooperation and Development (OECD) spend annually more on research and development than the economic output of the world's 61 least developed countries.

TheAfrican Economic Outlook estimates that Africa's GDP growth in 2003 stood at 3.6 , significantly higher than the 2.8 recorded in 2002.

Consistent policy and superior technology explain why Japan uses one tenth the energy that China uses to generate the same amount of economic output.

China s GDP will almost certainly surpass that of the US within a decade, owing to the size of its population and its impressive economic growth rate.