India GDP Annual Growth Rate  1951-2017 | Data | Chart | Calendar

The Indian economy advanced 7 percent year-on-year in the last three months of 2016, slowing from an upwardly revised 7.4 percent rise in the previous quarter but beating expectations of a 6.4 percent growth. The expansion was mainly driven by a surge public spending and agriculture. The GDP is expected to grow 7.1 percent in the fiscal year ending in March 2017. GDP Annual Growth Rate in India averaged 6.10 percent from 1951 until 2016, reaching an all time high of 11.40 percent in the first quarter of 2010 and a record low of -5.20 percent in the fourth quarter of 1979.

India GDP Annual Growth Rate
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-08-31 12:00 PM Q2 7.1% 7.9% 7.6% 7.4%
2016-11-30 12:00 PM Q3 7.3% 7.1% 7.5% 7.2%
2017-02-28 12:15 PM Q4 7% 7.4% 6.4% 6.6%
2017-05-31 12:00 PM Q1 7% 6.5%
2017-08-31 12:00 PM Q2 6.5%
2017-11-30 12:00 PM Q3 7%




India GDP Growth Beats Expectations in Q4


The Indian economy advanced 7 percent year-on-year in the last three months of 2016, slowing from an upwardly revised 7.4 percent rise in the previous quarter but beating expectations of a 6.4 percent growth. The expansion was mainly driven by a surge public spending and agriculture. The GDP is expected to grow 7.1 percent in the fiscal year ending in March 2017.

Private spending rose 10.1 percent, faster than a 5.1 percent increase in the previous quarter. Government spending went up 19.9 percent, higher than 15.2 percent in the previous quarter. Gross fixed capital formation expanded 3.5 percent, recovering from a 5.3 percent contraction in the previous period. Exports advanced 3.4 percent, rebounding from a 0.9 percent drop in the previous quarter. Imports rose 4.5 percent, following a 7.4 percent fall in the previous period. 

On the production side, the gross value added for public administration, defence and other services expanded the most (11.9 percent compared to 11 percent in Q3), followed by manufacturing (8.3 percent compared to 6.9 percent in Q3); mining and quarrying (7.5 percent compared to -1.3 percent in Q3); trade, hotels, transport, communication and services related to broadcasting (7.2 percent compared to 6.9 percent in Q3); utilities (6.8 percent compared to 3.8 percent in Q3); agriculture (6 percent compared to 3.8 percent in Q3); financial, insurance, real estate and professional services (3.1 percent compared to 7.6 percent) and construction (2.7 percent compared to 3.4 percent in Q3).

The data suggests that the economy was only slightly touched by demonetarization, while the economists had been predicting the gdp growth would go down much more. This can be explained by:
1. downward revision of the growth rate in the last quarter of 2015 (from 7.2 percent to 6.5 percent)
2. 40 to 50 per cent of the economy is in the informal sector and operates almost exclusively in cash while early growth estimates rely on the results of large, formal-sector companies
3.  Indian companies may have attempted to explain illicit cash holdings by stocking up on inventory or over-reporting sales. After all manufacturing growth accelerated sharply to 8 percent from 5.6 percent in the previous quarter.
Lastly, the government claim that private spending rose even more than in the quarter before the cash crunch does not add up to other indicators pointing to the sharp slowdown in both rural and urban consumption.



Joana Taborda | joana.taborda@tradingeconomics.com
3/2/2017 2:06:58 PM



India GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.60 1.80 5.80 -1.80 percent [+]
GDP Annual Growth Rate 7.00 7.40 11.40 -5.20 percent [+]
GDP 2095.40 2042.44 2095.40 37.68 USD Billion [+]
GDP Constant Prices 30278.93 29734.44 30278.93 7500.43 INR Billion [+]
Gross National Product 56738.60 54166.60 56738.60 2786.77 INR Billion [+]
Gross Fixed Capital Formation 8797.63 8601.50 9084.49 2021.90 INR Billion [+]
GDP per capita 1750.60 1647.30 1750.60 307.40 USD [+]
GDP per capita PPP 5730.14 5391.69 5730.14 1755.74 USD [+]
GDP From Agriculture 5418.51 3179.76 5418.51 2690.55 IND Billion [+]
GDP From Construction 2184.66 2094.34 2201.95 1856.54 IND Billion [+]
GDP From Manufacturing 4756.18 4947.73 5010.02 3305.81 IND Billion [+]
GDP From Mining 896.84 698.77 930.58 551.10 IND Billion [+]
GDP From Public Administration 3789.44 3717.12 3789.44 2328.98 IND Billion [+]
GDP From Utilities 594.35 593.23 606.47 463.21 IND Billion [+]



India GDP Annual Growth Rate Notes

By industry, the most important and the fastest growing sector of Indian economy are services. Trade, hotels, transport and communication; financing, insurance, real estate and business services and community, social and personal services account for more than 60 percent of GDP. Agriculture, forestry and fishing constitute around 12 percent of the output, but employs more than 50 percent of the labor force. Manufacturing accounts for 15 percent of GDP, construction for another 8 percent and mining, quarrying, electricity, gas and water supply for the remaining 5 percent. This page provides - India GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. India GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on March of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
7.00 7.40 11.40 -5.20 1951 - 2016 percent Quarterly
NSA, 2011-12 Prices



Last
Iceland 11.30 Dec/16
Ethiopia 9.60 Dec/15
Papua New Guinea 9.00 Dec/15
Ivory Coast 8.20 Dec/16
Uzbekistan 7.80 Dec/16
Cambodia 7.20 Dec/16
Ireland 7.20 Dec/16
Bangladesh 7.11 Dec/16
India 7.00 Dec/16
Laos 7.00 Dec/15
Macau 7.00 Dec/16
Myanmar 7.00 Dec/15
Tajikistan 6.90 Dec/16
China 6.80 Dec/16
Maldives 6.80 Jun/16
Djibouti 6.70 Dec/15
Vietnam 6.68 Dec/16
Philippines 6.60 Dec/16
Moldova 6.50 Dec/16
Tanzania 6.20 Sep/16
Turkmenistan 6.20 Dec/16
Dominican Republic 5.80 Sep/16
Kenya 5.70 Sep/16
Chad 5.60 Dec/15
Niger 5.60 Sep/16
Bhutan 5.50 Dec/15
Togo 5.50 Sep/16
Burkina Faso 5.40 Sep/16
Monaco 5.40 Dec/15
Sao Tome and Principe 5.30 Dec/15
Sri Lanka 5.30 Dec/16
Guinea Bissau 5.20 Dec/16
Mali 5.20 Dec/16
Palestine 5.20 Sep/16
Malta 5.10 Dec/16
Benin 5.00 Sep/16
Indonesia 4.94 Dec/16
Central African Republic 4.90 Dec/15
Sudan 4.90 Dec/15
Israel 4.80 Dec/16
Luxembourg 4.80 Sep/16
Ukraine 4.80 Dec/16
Pakistan 4.71 Dec/16
Gambia 4.70 Dec/15
Romania 4.70 Dec/16
Botswana 4.50 Sep/16
Malaysia 4.50 Dec/16
Panama 4.50 Dec/16
East Timor 4.30 Dec/15
Nicaragua 4.30 Sep/16
Seychelles 4.30 Dec/15
Fiji 4.20 Dec/15
Gabon 4.20 Dec/15
Cape Verde 4.00 Sep/16
Ghana 4.00 Sep/16
Mauritius 4.00 Sep/16
Senegal 4.00 Dec/16
Costa Rica 3.99 Sep/16
Algeria 3.90 Dec/15
Bahrain 3.90 Sep/16
Kosovo 3.80 Sep/16
Kyrgyzstan 3.80 Dec/16
Cameroon 3.70 Mar/16
Qatar 3.70 Sep/16
Honduras 3.60 Dec/16
Zambia 3.60 Dec/15
Bulgaria 3.40 Dec/16
Croatia 3.40 Dec/16
Lesotho 3.40 Dec/15
Paraguay 3.40 Dec/16
United Arab Emirates 3.40 Dec/15
Bolivia 3.24 Jun/16
Comoros 3.20 Dec/15
Lithuania 3.20 Dec/16
Albania 3.10 Sep/16
Hong Kong 3.10 Dec/16
Mauritania 3.10 Dec/15
Guyana 3.00 Dec/15
Madagascar 3.00 Dec/15
Peru 3.00 Dec/16
Slovakia 3.00 Dec/16
Spain 3.00 Dec/16
Thailand 3.00 Dec/16
Cyprus 2.90 Dec/16
Malawi 2.90 Dec/15
Singapore 2.90 Dec/16
Taiwan 2.88 Dec/16
Cayman Islands 2.80 Sep/16
Georgia 2.80 Dec/16
Estonia 2.70 Dec/16
New Zealand 2.70 Dec/16
Poland 2.70 Dec/16
Somalia 2.70 Dec/15
Guatemala 2.60 Sep/16
Slovenia 2.60 Dec/16
El Salvador 2.51 Sep/16
Congo 2.50 Dec/16
Serbia 2.50 Dec/16
Australia 2.40 Dec/16
Bosnia and Herzegovina 2.40 Sep/16
Iraq 2.40 Dec/15
Macedonia 2.40 Dec/16
Mexico 2.40 Dec/16
Montenegro 2.40 Sep/16
Egypt 2.30 Mar/16
Netherlands 2.30 Dec/16
Rwanda 2.30 Dec/16
South Korea 2.30 Dec/16
Sweden 2.30 Dec/16
New Caledonia 2.20 Dec/15
Latvia 2.10 Dec/16
Jamaica 2.00 Sep/16
Portugal 2.00 Dec/16
United Kingdom 2.00 Dec/16
Uruguay 2.00 Sep/16
Canada 1.90 Dec/16
Czech Republic 1.90 Dec/16
Denmark 1.90 Dec/16
European Union 1.90 Dec/16
United States 1.90 Dec/16
Jordan 1.80 Sep/16
Kuwait 1.80 Dec/15
Norway 1.80 Dec/16
Uganda 1.75 Sep/16
Austria 1.70 Dec/16
Euro Area 1.70 Dec/16
Swaziland 1.70 Dec/15
Barbados 1.60 Dec/16
Colombia 1.60 Dec/16
Hungary 1.60 Dec/16
Japan 1.60 Dec/16
Zimbabwe 1.50 Dec/15
Haiti 1.40 Dec/16
Finland 1.30 Dec/16
Tunisia 1.30 Sep/16
Belgium 1.20 Dec/16
Germany 1.20 Dec/16
Morocco 1.20 Dec/16
Republic of the Congo 1.20 Dec/15
France 1.10 Dec/16
Mozambique 1.10 Dec/16
Italy 1.00 Dec/16
Kazakhstan 1.00 Dec/16
Lebanon 1.00 Dec/15
Mongolia 1.00 Dec/16
Saudi Arabia 0.90 Sep/16
Nepal 0.77 Dec/15
South Africa 0.70 Dec/16
Bahamas 0.60 Dec/16
Iran 0.60 Mar/15
Switzerland 0.60 Dec/16
Chile 0.50 Dec/16
Eritrea 0.30 Dec/15
Liberia 0.30 Dec/15
Guinea 0.10 Dec/15
Russia -0.40 Sep/16
Puerto Rico -0.60 Dec/15
Belize -0.80 Sep/16
Liechtenstein -0.80 Dec/14
Cuba -0.90 Dec/16
Armenia -1.00 Dec/17
Namibia -1.00 Sep/16
Greece -1.10 Dec/16
North Korea -1.10 Dec/15
Nigeria -1.30 Dec/16
Ecuador -1.60 Sep/16
Turkey -1.80 Sep/16
Belarus -1.90 Dec/16
Argentina -2.10 Dec/16
Suriname -2.10 Dec/15
Syria -2.30 Dec/11
Afghanistan -2.40 Dec/16
Brazil -2.50 Dec/16
Azerbaijan -3.80 Dec/16
Brunei -3.80 Sep/16
Burundi -4.10 Dec/15
Angola -4.30 Sep/16
South Sudan -5.30 Dec/15
Libya -6.00 Dec/15
Equatorial Guinea -10.60 Dec/15
Trinidad and Tobago -10.80 Sep/16
Oman -14.10 Dec/15
Venezuela -18.60 Dec/16
Sierra Leone -21.50 Dec/15
Yemen -28.10 Dec/15