Top 5 Most Populous Asian Countries by Percent of Global Nominal GDP (Log) #datavisualization

What's gamin' gamers? It's your boy Olino and I am coming at you with another YouTube short, this one is a graphic plot which charts *logarithmically* the change in the nominal gross domestic product (GDP) of the Top 5 Most Populous (Most Populated or Largest) Asian Countries in Asia as a percentage of total global nominal GDP from 1960 to 2024: China (PRC or People's Republic of China), India, Indonesia, Pakistan, and Bangladesh.

Nominal gross domestic product (GDP) is a metric of the overall economic strength of a country measuring the size of its economy, usually in US dollars. It's not a perfect measure of "real" economic output since it may be cheaper to produce items of the same quality in different countries which can make a countries nominal GDP appear larger or smaller than expected.

Still, nominal GDP is a simple metric frequently used by economists. It is important to remember that nominal GDP is calculated using "current US dollars" which means the nominal GDP in 1960 is calculated in 1960 US dollars and the nominal GDP in 2020 is calculated in 2020 US dollars. This means that part of the growth in nominal GDP is driven in part by inflation instead of real economic growth.

By plotting as a percentage of total global GDP, you can effectively see how different economies are growing (or shrinking) relative to the rest of the world. An economy may be growing, but if the rest of the world is growing faster, that economy's share of total GDP will decline over time.

I hope you like the video and please consider subscribing if you did!

https://www.youtube.com/@OlinoTGAP?sub_confirmation=1

-–––––––––––––––––––––––––––––
Music: "Dirt Rhodes" by Kevin MacLeod
––––––––––––––––––––––––––––––

Nominal GDP:

Source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB)

Видео Top 5 Most Populous Asian Countries by Percent of Global Nominal GDP (Log) #datavisualization канала Olino