Key Macroeconomic Indicators - List and Dynamics


How can I check a particular system? For this indicators were invented. In the productions they are alone, in technology others, and in economics the third. All are designed for a specific purpose. What macroeconomic indicators of the economy are used now? And what is allowed to know?

general information

The development of the human community throughout history has been characterized by certain types of economic relationships. Over time, when economics appeared, it was necessary to know more and more. How do citizens, businesses, and the state itself. Over time, knowledge has become so much that they had to be allocated to various scientific disciplines. For example, macroeconomics studies states, their interrelations, and regional economies. This is a very exact science that provides clear interrelated definitions. At the state level, it operates with a significant number of concepts.

About the characteristic


The use of mathematical methods for analyzing the ongoing economic processes made it possible to identify a number of fundamental indicators, with the help of which one can quite succinctly describe the state of the state. They are used to track the dynamics of development, as well as a basis for making forecasts. For their designation introduced the concept of "macroeconomic indicators." Understanding them clearly and the impact they have is an important basis for the design, implementation and implementation of regulatory policies. In a transitional economy, they are very important, because they allow us to judge whether the movement is right - towards prosperity or not. To characterize the state and its economic condition, indicators are considered in aggregate. Based on the available data, a decision is made on the ongoing fiscal, monetary and social policies. In order not to collect them separately, the complementary indicators were combined into a system of national accounts. It serves to cover all operations that take place in the economy, and takes into account the costs incurred by the country. On the basis of the data of the system, economic forecasts and models are developed.

About gross domestic product


The macroeconomic indicator of GDP is central to the system of national accounts. In fact, the gross domestic product is used to assess the market value of the entire volume of final services and products that were created in the country. At the same time, the ownership of factors of production does not matter. The size of GDP is influenced by the physical volume of goods and services created, as well as their prices. In this case, quite often there are discrepancies in the final index. This state of affairs is due to the choice of method to be used. What does this mean in practice? There are methods of production and end use. And when calculating the gross domestic product, they give a different result. Why is that? The fact is that in the first case the price of factors of production is taken into account. Whereas in the second, attention is paid to market value. It is necessary to exclude from GDP a large number of various transactions that are carried out in a year. Conventionally, there are two types:

  1. Trade in used goods.
  2. Pure financial transactions.

Gross national product

This is the second most important indicator. It, like GDP, is used to measure the market value of final goods and services that are produced in an economy over a period of time (usually a year). But he has a significant difference! The gross national product takes into account only those products that were produced by factors of production owned by the citizens of this country. It even takes into account data on those who reside and conduct activities abroad. The calculation of macroeconomic indicators of this type in practice is somewhat problematic, because you need to know not only the results of activities, but also to whom it belongs. The primary income here includes wages, taxes on production, profits, and so on. It also does not take into account trade in second-hand goods and purely financial transactions.

Foreign trade balance


Such macroeconomic indicators of income are used when using GDP and determine the difference between imports and exports. The balance can be both positive and negative. In the first case, there is a net export. This means that overseas, conditionally, delivered more goods than produced. And not in terms of quantity, and precisely for the cost. That is, in practice it may be that there are not many goods, but they are very expensive. Consider an example: there are two states. One (A) manufactures computers for 3 thousand conventional units. Other (B) is engaged in the cultivation of grain, centner which costs 45 cu During the year one computer and 10 tons of wheat were sold. Thus, B has a surplus of 1.5 thousand conventional units. Whereas at A it is negative for the same amount. If things continue to develop in this way, then the debt will grow from one (which is necessary to buy the missing grains), and the second from stocks.

Gross national disposable income

It differs from GNP by the size of the balance of current redistributive payments that are transferred or received from abroad. They may contain humanitarian aid, gifts to relatives, penalties and fines (which are paid abroad). That is, coverage of all incomes that were received by residents of this country in the framework of the primary and secondary income distribution is ensured. Gross national disposable income is summarized across all sectors of the economy. This indicator is divided into gross savings and final consumption. What are these macroeconomic indicators of the country?

Gross accumulation and final consumption


GNP covers an increase in the amount of fixed capital, changes in inventories and net purchases of valuables. These include jewelry, antiques and the like. That is, these are contributions to the future in order to generate new income. Gross capital formation is an important element of GDP. As well as final consumption. But it includes expenses that go to final consumption of households, government and non-profit organizations. The costs of the last two coincide with the cost of their services. From this follows the concept of disposable income. In essence, this is what households get. That is, taxes, social security contributions and so on are not taken into account. To calculate the value of disposable income, it is necessary to remove retained earnings, individual taxes, social insurance contributions, and add the amount of transfer payments from the GNP.

A few words about the system of national accounts

It is used to combine the most important indicators of the country. Here you can find data on the release of goods and services, total income and expenses of the company. This system of macroeconomic indicators is used to collect and process information, which later serves as the basis for management decisions. Thanks to it, it is possible to visualize the dynamics of GDP or GNP at all stages, that is, during production, distribution and consumption. Its indicators allow to reflect the structure of the market economy, as well as the mechanisms and institutions of functioning.

The system of national accounts can be used to characterize non-reproducible material resources and financial assets (liabilities) associated with the movement of financial flows. During its development, the boundaries of economic production were determined. They covered almost all goods and services, with the exception of a number of events in households, such as cooking, cleaning the house, raising children and others. At the same time, production includes environmental protection. The system of national accounts is necessary in order to conduct effective macroeconomic policy of the state, to engage in economic forecasting and to ensure international comparison of national income.

How were the macroeconomic indicators of national accounts formed?


The system originated in the 30s of the last century. The critical situation in connection with the economic crisis that began in 1929 pushed for its creation. In order to adequately assess the development of the economy and take effective political and economic measures, it was necessary to assess the existing situation. To do this, and used synthetic indicators, interrelated. The first such calculations were carried out in the USA, Germany and Japan. Then the United Kingdom and France joined this. Although, if you recall the planned economy of the USSR, here you can argue a lot. But the very basis for such a development was created much earlier. The theoretical basis was formulated by theorists and practitioners of economic sciences for two centuries. Now special attention is paid to international organizations, among which the most important is the UN. It has been using the system of national accounts since 1953. In 1968, it was reformed. And since 1993, a modern version of this system.

What is their role?

The system of national accounts performs important functions:

  1. The indicators of macroeconomic development make it possible to keep a hand on the economic pulse of the country. At the same time, the volume of production is measured at a certain point in time, and the reasons are revealed for which such a situation exists.
  2. The levels of national income received are compared over a certain time period, thanks to which a time trend can be traced. The nature of the development of the country's economic sector depends on the dynamics of macroeconomic indicators: recession, stagnation, stable reproduction or growth.
  3. Through the information provided by the system of national accounts, the state can work more effectively to improve the functioning of the economy.

And what about the RF?


There are macroeconomic indicators of Russia. They are in the public domain, and anyone, if he wants, can study absolutely all the data that are of interest only. The most important of these is the gross domestic product. At the beginning of the 2000s and in the first years of the tenths, it actively grew and increased. But then they began to decrease. Already at the end of 2013, a slowdown in the rate of development was recorded. 2014 only confirmed this dynamic. And at the end of 2015, GDP in general fell by 3.7%. Now the situation has been more or less stabilized, but so far there is no need to talk about growth. In addition, keeping GDP under control was not cheap.



Macroeconomic indicators are useful and necessary tools. But for their effective use you need to have knowledge and understanding of how to wrap them for your own benefit. This becomes a task for the government, the ministry of finance, the tax service, the state treasury, and all the people involved in these nuances. After all, the main goal of the compilation of indicators is to provide absolutely all conditions in which the well-being of the people, the standard of living of particular people and the whole country as a whole will grow. Alas, the system of macroeconomic indicators itself cannot say what needs to be done. It only provides the basis for making the necessary decisions.

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