Index

• Introduction
• Process
• GDP of Low Income Countries
• GDP of High Income Countries
• GDP of Upper Middle Income Countries
• GDP of Lower Middle Income Countries
• Conclusion
• Source

Introduction

GDP(Gross Domestic Product) is the monetary value of all finished goods and services made within a country during a specific period.

GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate.

In our case,we are looking into GDP of 2019 of various countries.

Process

• Firstly,load neccessary libraries
• Then load the data from the csv file
• Next Step is to split data based on Incomegroup
• Later,Create a new column to differentiate between -ve and +ve GDP
• Lastly,Plot different plots inorder to intrepret the GDP of different countries.

GDP of Low Income Countries

• Most of the low income countries despite of their conditions like landscape,population and various factors they have acheieved positive GDP rate in 2019.

• Some countries like Rwanda,Ethiopia have even achieved more than 7% GDP rate which some high income countries even did not achieve.

ggplot(Countries_LI, aes(x=reorder(Countries_LI$`Country Name`, Countries_LI$`2019`),y=Countries_LI$`2019`, fill=GDP_GROWTH_LI)) +
  geom_col(position = "identity") +
  labs(title= "GDP of Low Income Countries in 2019") +
  xlab("Country") +
  ylab("GDP(in %)-2019 ") +
  coord_flip()

GDP of High Income Countries

• Most of the high income countries have a positive GDP rate with the highest 5% by Ireland.Despite of being high income countries their GDP rates can not be increased rapidly due to the previous high GDP values.

• Some countries like china and Quatar has negitive GDP rate due to the various recent conditions emerged.

ggplot(Countries_HI, aes(x=reorder(Countries_HI$`Country Name`, Countries_HI$`2019`),y=Countries_HI$`2019`, fill=GDP_GROWTH_HI)) +
  geom_col(position = "identity") +
  labs(title= "GDP of High Income Countries in 2019") +
  xlab("Country") +
  ylab("GDP(in %)-2019 ") +
  coord_flip()

GDP of Upper Middle Income Countries

• Upper middle income countries are emerging as a good GDP producers and becoming a competition for the high income countries.

• Countries like Tuvalu,Amania etc have achieved morethan 9 % GDP rate making them more compitent to the high income countries.

ggplot(Countries_UMI, aes(x=reorder(Countries_UMI$`Country Name`, Countries_UMI$`2019`),y=Countries_UMI$`2019`, fill=GDP_GROWTH_UMI)) +
  geom_col(position = "identity") +
  labs(title= "GDP of Upper Middle Income Countries in 2019") +
  xlab("Country") +
  ylab("GDP(in %)-2019 ") +
  coord_flip()

GDP of Lower Middle Income Countries

• Lower Middle Income countries also have positive GDP rates for most of them except some of the under developed countries like zimbabwe,cong.Rep etc because of their present war and poverty conditions have a negitive GDP rates.

ggplot(Countries_LMI, aes(x=reorder(Countries_LMI$`Country Name`, Countries_LMI$`2019`),y=Countries_LMI$`2019`, fill=GDP_GROWTH_LMI)) +
  geom_col(position = "identity") +
  labs(title= "GDP of Low Middle Income Countries in 2019") +
  xlab("Country") +
  ylab("GDP(in %)-2019 ") +
  coord_flip()

Conclusion

• In order to conclude,Upper middle income countries have a better chance of competitng with high income countries in terms of GDP due to their present growth.

Source

• World Bank Data – https://data.worldbank.org/indicator/NY.GDP.MKTP.KD.ZG

• References – https://www.investopedia.com/terms/g/gdp.asp