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Top 20 Fastest Growing Economies 2020 (Major Economies)

Economic growth is the increase in the inflation-adjusted market value of the goods and services produced by an economy over time. It is conventionally measured as the percent rate of increase in real gross domestic product, or real GDP. The "rate of economic growth" refers to the geometric annual rate of growth in GDP (top 10 economies) between the first and the last year over a period of time. This growth rate is the trend in the average level of GDP over the period, which ignores the fluctuations in the GDP around this trend. An increase in economic growth caused by more efficient use of inputs (increased productivity of labor, physical capital, energy or materials) is referred to as intensive growth. GDP growth (gdp growth rate) caused only by increases in the amount of inputs available for use (increased population, new territory) (gdp 2020 or gdp growth rate 2020) is called extensive growth. This video is made by Dr. Top 10 and contains Information taken from IMF 2020 Reports and Projections #fastestgrowingeconomy #growthrate2020 #majoreconomies