Essay on imf datamapper

Submitted By nickrajpal
Words: 475
Pages: 2

With the countries I have chosen, the real GDP at the moment is relatively stable. The most unstable country in the past with the most variation is the United Arab Emirates. This is because it is still a newly industrializing country and has been for many years. Therefore its economy is open to change. As the graph shown is based on GDP in % change, we can tell that in 1986 the GDP fell by roughly 25%. This was then rectified with a spike from 1988-1991 due to a boom in the pearl industry. Again, in 2003 there was another spike in the real GDP in the UAE, and this time it was due to the number of expats relocating in places like Dubai and Abu Dhabi. These are the two main spikes in the real GDP in the last 30 years in the UAE. As it is an NIC the GDP has a greater chance of changing due to the ever-changing state of the economy.

Turkey is very similar to the UAE, although its positive and negative spikes are nowhere near as drastic. Although they occurred as often, if not more frequently than in the UAE. The spike in 1994 was due to the government granting large salary increases to the civil servants and the fact they increased the money that was being used to fund state enterprises, which lead to the rapid growth between 1994 and 1996. Although there are lots of spikes in the GDP for Turkey, it is important to remember that a negative spike does not necessarily mean that the GDP fell, in fact it rarely does. But instead it means that the growth from one year to another was not as large as the previous year.

Finally, in the UK the GDP growth is very gradual to the stability of the UK economy compared to others worldwide. The biggest fall in % change of GDP growth occurred in 2007 which was due to the