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

The Indian economy expanded 5.7 percent year-on-year in the second quarter of 2017, below 6.1 percent in the previous period and market expectations of 6.6 percent. It remains the weakest growth rate since the first quarter of 2014 due to a slowdown in consumer spending and exports. On the production side, manufacturing and agriculture eased. Figures for the second quarter of 2017 mark the third consecutive period of slowing growth, following the demonetization program started in November of 2016 that removed 86 percent of India's currency in circulation. GDP Annual Growth Rate in India averaged 6.12 percent from 1951 until 2017, 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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India GDP Growth at Over 3-Year Low of 5.7% in Q2


The Indian economy expanded 5.7 percent year-on-year in the second quarter of 2017, below 6.1 percent in the previous period and market expectations of 6.6 percent. It remains the weakest growth rate since the first quarter of 2014 due to a slowdown in consumer spending and exports. On the production side, manufacturing and agriculture eased. Figures for the second quarter of 2017 mark the third consecutive period of slowing growth, following the demonetization program started in November of 2016 that removed 86 percent of India's currency in circulation.

Year-on-year, lower growth rates were recorded for private spending (6.7 percent compared to 7.3 percent in the previous period); government consumption (17.2 percent compared to 31.9 percent) and exports (1.2 percent compared to 10.3 percent) while imports rose at a faster 13.4 percent (11.9 percent). On the other hand, gross fixed capital formation rose 1.6 percent, following a 2 percent drop in the first three months of the year.

The Gross Value Added, that is, GDP excluding taxes, increased 5.6 percent year-on-year in Q2 of 2017, the same as in the previous quarter. Mining and quarrying shrank 0.7 percent (+6.4 percent in the previous qurter) and slowdowns were recorded for manufacturing (1.2 percent compared to 5.3 percent); agriculture (2.3 percent compared to 5.2 percent) and public administration and defence (9.5 percent compared to 17 percent). On the other hand, faster increases were recorded for trade, hotels, transport and communication (11.1 percent compared to 6.5 percent); financial and real estate activities (6.4 percent compared to 2.2 percent) and utilities (7 percent compared to 6.1 percent).

Joana Taborda | joana.taborda@tradingeconomics.com
8/31/2017 12:31:02 PM


Recent Releases

India GDP Growth Unexpectedly Slows To 6.1% In Q1
The Indian economy advanced 6.1 percent year-on-year in the first quarter of 2017, slowing sharply from a 7 percent expansion in the previous period and well below market expectations of 7.1 percent. It is the lowest growth rate since the last quarter of 2014, due to a slowdown in consumer spending and a drop in investment, following the demonetization program started in November of 2016 that removed 86 percent of India's currency in circulation. In addition, the government changed the GDP base year for 2011-2012 from 2004-2005. The same change was made earlier for industrial production and wholesale prices indexes, with adjustments in the weights of the different industries. Considering the April 2016-March 2017 period, the economy advanced 7.1 percent, in line with the official estimate but below 8 percent in the previous year.
Published on 2017-05-31

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Published on 2016-11-30

India GDP Growth Slows to 7.1% YoY in Q2
India's gross domestic product advanced 7.1 percent year-on-year in the second quarter of 2016, slowing from a 7.9 percent expansion in the previous period and missing market expectations of 7.6 percent growth. It was the lowest reading since the fourth quarter of 2014, as private consumption expanded at a slower pace while fixed investment dropped further.
Published on 2016-08-31



Calendar GMT Actual Previous Consensus TEForecast
2017-02-28 12:15 PM GDP Growth Rate YoY 7% 7.4% 6.4% 6.6%
2017-05-31 12:00 PM GDP Growth Rate YoY 6.1% 7% 7.1% 7%
2017-08-31 12:00 PM GDP Growth Rate YoY 5.7% 6.1% 6.6% 6.5%
2017-11-30 12:00 PM GDP Growth Rate YoY 5.7% 7%


India GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.50 1.50 6.20 -2.30 percent [+]
GDP Annual Growth Rate 5.70 6.10 11.40 -5.20 percent [+]
GDP 2263.52 2111.75 2263.52 36.54 USD Billion [+]
GDP Constant Prices 31101.45 32284.27 32284.27 7500.43 INR Billion [+]
Gross National Product 12034713.00 11246305.00 12034713.00 8659215.00 INR Tens Of Million [+]
Gross Fixed Capital Formation 9275.06 9190.40 9384.88 2021.90 INR Billion [+]
GDP per capita 1861.50 1758.00 1861.50 304.20 USD [+]
GDP per capita PPP 6092.60 5754.10 6092.60 1737.60 USD [+]
GDP From Agriculture 3897.32 4493.13 5468.54 2690.55 INR Billion [+]
GDP From Construction 2339.19 2197.52 2339.19 1855.78 INR Billion [+]
GDP From Manufacturing 5131.39 5331.94 5331.94 3305.81 INR Billion [+]
GDP From Mining 859.11 988.17 988.17 551.10 INR Billion [+]
GDP From Public Administration 3493.56 3709.73 3734.83 2328.98 INR Billion [+]
GDP From Utilities 652.89 593.20 652.89 463.21 INR 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 September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
5.70 6.10 11.40 -5.20 1951 - 2017 percent Quarterly
NSA, 2011-12 Prices



gdp annual growth rate by Country

Last
China 6.90 Jun/17
India 5.70 Jun/17
Turkey 5.10 Jun/17
Indonesia 5.01 Jun/17
Canada 3.70 Jun/17
Netherlands 3.30 Jun/17
Spain 3.10 Jun/17
South Korea 2.70 Jun/17
Russia 2.50 Jun/17
Euro Area 2.30 Jun/17
United States 2.20 Jun/17
Germany 2.10 Jun/17
Australia 1.80 Jun/17
Mexico 1.80 Jun/17
France 1.70 Jun/17
United Kingdom 1.70 Jun/17
Italy 1.50 Jun/17
Japan 1.40 Jun/17
Brazil 0.30 Jun/17
Switzerland 0.30 Jun/17