5-Year GDP Growth Rate (%): Percentage growth rate of GDP over a five-year period
The 5-Year GDP Growth Rate (%) is a significant metric that measures the average annual growth rate of a country's Gross Domestic Product (GDP) over a five-year period. This indicator provides valuable insights into long-term economic trends and the overall performance of different economies.
As of January 2020, Ireland exhibited a remarkable 5-Year GDP Growth Rate of 10.5%, securing the first position. Ethiopia followed closely with a growth rate of 9.3% and Ivory Coast claimed the third spot with a growth rate of 8.1%. These countries demonstrated strong economic expansion and a positive trajectory in their GDP over the evaluated period.
Conversely, certain countries faced challenges during this period. Equatorial Guinea experienced a negative 5-Year GDP Growth Rate of -5.6%, Yemen recorded -7.8%, and Venezuela exhibited the lowest growth rate of -12.2%. These figures indicate economic contraction and significant obstacles to sustainable economic development.
In January 2021, Libya emerged as the top performer in terms of 5-Year GDP Growth Rate, with an impressive growth rate of 14.3%. Ireland maintained a strong position with a growth rate of 10.2%, while Ethiopia remained in the top three with a growth rate of 9.1%. These countries demonstrated consistent economic growth and progress.
However, some countries continued to face economic challenges. Equatorial Guinea recorded a negative growth rate of -7.1%, Yemen registered -7.9%, and Venezuela experienced a significant decline with a growth rate of -18.7%. These figures indicate ongoing economic difficulties and a decline in GDP over the evaluated period.
Moving to January 2022, Guyana showcased exceptional growth with a 5-Year GDP Growth Rate of 12.1%, positioning itself as the leading country in terms of economic expansion. Ethiopia maintained its strong performance with a growth rate of 8.2%, while Guinea secured the third position with a growth rate of 7.6%. These countries demonstrated resilience and a favorable economic environment.
Conversely, Lebanon experienced a decline in its GDP with a growth rate of -6.2%, followed by Equatorial Guinea with a growth rate of -6.4%. Venezuela faced the most substantial contraction, recording a negative growth rate of -24%. These figures reflect ongoing economic challenges and a deteriorating economic situation.
Monitoring the 5-Year GDP Growth Rate (%) allows for the analysis of long-term economic trends and the assessment of a country's overall economic health. It is a valuable tool for policymakers, economists, and investors to understand the pace of economic development, identify opportunities, and address challenges to foster sustainable economic growth.