GDP Calculator guide
GDP Calculator: Gross Domestic Product Explained
Use our GDP calculator to work out gross domestic product with the expenditure method, plus GDP per person, growth and real GDP.
By the AllCalculator editorial teamUpdated 16 October 20261 min read
Gross domestic product (GDP) is the most widely used measure of the size of an economy. Our GDP Calculator works it out with the expenditure method used in economics courses.
How to use the calculator (GDP Calculator)
- Enter consumer spending, investment, government spending, exports and imports.
- Optionally, add the population for GDP per person, last year's GDP for growth and a GDP deflator for real GDP.
The formula
GDP = C + I + G + (X − M)
- C: consumer spending by households
- I: investment by businesses, such as buildings and equipment
- G: government spending on goods and services
- X − M: net exports (exports minus imports)
Real and nominal GDP
Nominal GDP uses today's prices. Real GDP removes the effect of inflation, so you can compare years fairly:
Real GDP = nominal GDP ÷ deflator × 100
A worked example
With the calculator's default settings, rough UK-scale figures give a GDP of £2,730bn. Divided by a population of 69 million, that's about £39,600 per person.
Frequently asked questions
What's a recession?
In the UK, it's usually defined as two quarters in a row when real GDP falls.
Does GDP measure wellbeing?
Not fully. It doesn't count unpaid work, inequality or the environment, which is why the ONS also publishes wellbeing measures.
Where can I find official figures?
The Office for National Statistics publishes UK GDP every month and every quarter.
For inflation, try our United States Inflation Calculator.
Sources and further reading
Links open official and independent websites in a new tab.
This guide is general information to help you understand your options. It isn't financial, tax, legal or building advice and doesn't take your personal circumstances into account. Figures were checked when the guide was last updated and can change, so confirm anything important with GOV.UK, HMRC, a regulated adviser or a qualified tradesperson.