Measuring Economic Growth: What are the indices used in measuring the economic growth of a country?

There are several indices used in measuring the economic growth of a country. Some of the commonly used indices include:

Gross Domestic Product (GDP)

This is the total value of goods and services produced within a country's borders in a specific period, usually a year.

Gross National Product (GNP)

This is the total value of goods and services produced by a country's citizens, regardless of their location, in a specific period.

Gross National Income (GNI)

This is the total income earned by a country's citizens, regardless of their location, in a specific period.

Human Development Index (HDI)

This index combines measures of income, education, and life expectancy to provide a comprehensive measure of a country's well-being.

Inflation rate

This measures the rate at which prices are rising within a country and is often used as an indicator of economic health.

Unemployment rate 

This measures the percentage of the labour force that is unemployed and actively seeking work.

Balance of trade

This measures the difference between a country's exports and imports, and can be used to indicate whether a country is exporting more than it is importing (a positive balance of trade) or vice versa (a negative balance of trade).