What are economic indicators used to understand?
The evolution of an economy over time or across countries.
Economic indicators
Figures to understand economic changes.
What does gross domestic product (GDP) measure?
Money produced within a country’s national territory by nationals and non-nationals.
GDP vs GNP
GDP: production inside borders; GNP: nationals' production.
What does the trade balance compare?
A country's exports with its imports.
Trade surplus
Exports > imports, earning more.
When does a country have a trade surplus?
When it exports more than it imports.
Trade deficit
Imports > exports, spending more.
Tariff
Tax paid on crossing borders.
Reciprocal tariffs
Mutual tariffs between two countries.
CPI
Measures monthly price changes of products.
Test your knowledge with 9 questions on Economics Basics and Indicators.
1. What do economic indicators help analysts understand?
2. What does the term 'economic indicators' refer to?
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