Article in Journal
Real Value of Gross Domestic Product and Terms of Trade: Results for 2019
Wolfgang Nierhaus
ifo Institut, München, 2020
ifo Schnelldienst, 2020, 73, Nr. 03, 55-57
ifo Institut, München, 2020
ifo Schnelldienst, 2020, 73, Nr. 03, 55-57
In addition to the price-adjusted gross domestic product, the German Federal Statistical Office also publishes the real value of the gross domestic product. The two key indicators differ in their terms-of-trade effect. Accordingly, the German economy has been able to record gains in purchasing power for 2019 due to improved terms of trade; real incomes have increased more strongly than is reflected in the rise in overall economic production.
Keywords: Bruttoinlandsprodukt, Terms of Trade, VGR
JEL Classification: H610, F300, F410
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ifo Institute, Munich, 2020