The Indian economy advanced 7.1 percent year-on-year in the third quarter of 2018, well below 8.2 percent in the previous period and market expectations of 7.4 percent. It is the lowest growth rate in three quarters, mainly due to a slowdown in consumer spending amid high oil prices and a weaker rupee. Also, inventories, financial services, manufacturing and the farm sector rose less. GDP Annual Growth Rate in India averaged 6.17 percent from 1951 until 2018, 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.

GDP Annual Growth Rate in India is expected to be 7.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in India to stand at 7.30 in 12 months time. In the long-term, the India GDP Annual Growth Rate is projected to trend around 6.40 percent in 2020, according to our econometric models.

India GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-02-28 12:00 PM GDP Growth Rate YoY 7.2% 6.5% 6.9% 6.5%
2018-05-31 12:00 PM GDP Growth Rate YoY 7.7% 7% 7.3% 7.3%
2018-08-31 12:00 PM GDP Growth Rate YoY 8.2% 7.7% 7.6% 7.5%
2018-11-30 12:00 PM GDP Growth Rate YoY 7.1% 8.2% 7.4% 7.4%
2019-01-31 12:00 PM Fiscal Year GDP Growth 7.5%
2019-02-28 12:00 PM Fiscal Year GDP Growth Final 7.5%
2019-02-28 12:00 PM GDP Growth Rate YoY 7.1% 7.5%



India GDP Growth Slows More than Anticipated

The Indian economy advanced 7.1 percent year-on-year in the third quarter of 2018, well below 8.2 percent in the previous period and market expectations of 7.4 percent. It is the lowest growth rate in three quarters, mainly due to a slowdown in consumer spending amid high oil prices and a weaker rupee. Also, inventories, financial services, manufacturing and the farm sector rose less.

Household spending (7 percent compared to 8.6 percent in the previous period) and inventories (3.8 percent compared to 8.6 percent) slowed. On the other hand, government spending (12.7 percent compared to 7.6 percent), gross fixed capital formation (12.5 percent compared to 10 percent), exports (13.4 percent compared to 12.7 percent) and imports (25.6 percent compared to 12.5 percent) rose faster. Household spending accounted for 54.5 percent of the GDP (54.9 percent in Q2); gross fixed capital formation for 32.3 percent (31.6 percent in Q2); public expenditure for 12.4 percent (11.8 percent in Q2); and changes in stocks for 0.7 percent, the same as in Q2. Exports accounted for 21.8 percent (21.4 percent in Q2) while imports subtracted 26.6 percent (-24.7 percent in Q2). 

Gross Value Added, that is, GDP excluding taxes expanded 6.9 percent, below 8 percent in the previous period. A slowdown was seen in financial, real estate and professional services (6.3 percent compared to 6.5 percent); manufacturing (7.4 percent compared to 13.5 percent in the previous period); agriculture, forestry and fishing (3.8 percent compared to 5.3 percent); and construction (7.8 percent compared to 8.7 percent); and mining shrank (-2.4 percent compared to 0.1 percent). On the other side, faster increases were seen for trade, hotel, transport, communication and services related to broadcasting (6.8 percent compared to 6.7 percent); and public administration and defence (10.9 percent compared to 9.9 percent).


Joana Taborda | joana.taborda@tradingeconomics.com
11/30/2018 1:39:34 PM



India GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.90 2.00 5.40 -1.70 percent [+]
GDP Annual Growth Rate 7.10 8.20 11.40 -5.20 percent [+]
GDP 2597.49 2274.20 2597.49 36.54 USD Billion [+]
GDP Constant Prices 33976.20 33739.83 34768.27 7500.43 INR Billion [+]
Gross National Product 12865461.00 12051525.00 12865461.00 8659505.00 INR Tens Of Million [+]
Gross Fixed Capital Formation 10986.75 10652.17 11185.28 2021.90 INR Billion [+]
GDP per capita 1963.55 1862.40 1963.55 304.20 USD [+]
GDP per capita PPP 6426.67 6095.70 6426.67 1737.60 USD [+]
GDP From Agriculture 3461.02 4197.47 5666.82 2690.74 INR Billion [+]
GDP From Construction 2378.36 2491.03 2491.03 1861.37 INR Billion [+]
GDP From Manufacturing 5841.64 5690.94 5942.29 3331.04 INR Billion [+]
GDP From Mining 748.41 1009.54 1151.85 556.18 INR Billion [+]
GDP From Public Administration 4227.70 3922.11 4227.70 2328.98 INR Billion [+]
GDP From Utilities 728.58 713.83 728.58 463.02 INR Billion [+]


India GDP Annual Growth Rate

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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
7.10 8.20 11.40 -5.20 1951 - 2018 percent Quarterly
NSA, 2011-12 Prices




Country Last Previous
India 7.10 Sep/18
China 6.50 Sep/18
Indonesia 5.17 Sep/18
United States 3.00 Sep/18
Australia 2.80 Sep/18
Mexico 2.50 Sep/18
Saudi Arabia 2.50 Sep/18
Netherlands 2.40 Sep/18
Spain 2.40 Sep/18
Switzerland 2.40 Sep/18
Singapore 2.20 Dec/18
Canada 2.10 Sep/18
South Korea 2.00 Sep/18
Euro Area 1.60 Sep/18
Turkey 1.60 Sep/18
Russia 1.50 Sep/18
United Kingdom 1.50 Sep/18
France 1.40 Sep/18
Brazil 1.30 Sep/18
Germany 1.10 Sep/18
South Africa 1.10 Sep/18
Italy 0.70 Sep/18
Japan 0.00 Sep/18
Argentina -3.50 Sep/18


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