Economic growth of any country is reflected in the level of Gross Domestic Product. It is the sum total of the goods and services produced in any country in a year. If the GDP is growth is more, it is construed that the living standard of the people in that country is better. Many nations are showing a growth rate of about seven to eight percent-rate that is considered the reasonable growth in the present context of economic recession.

Per capita GDP is the real indicator to decide the purchasing power of any country since the GDP figure may be higher due to the increased population or inflation. The real GDP arrived after giving due to the weight-age to the inflation of a country. To arrive at the GDP figure, the various approaches like Expenditure approach, product approach and income approach are adopted by different countries.

Gross national Product is also an indicator showing the economic prosperity of a country as it measures the output of any nation’s factors of production including that is contributed by the people working abroad. This also takes in to consideration of the production by the people from other countries living here.