India GDP Annual Growth Rate

The Indian economy advanced 6.6 percent year-on-year in the last three months of 2018, below a downwardly revised 7 percent expansion in the previous period and market expectations of 6.9 percent. It is the lowest growth rate in five quarters as weak consumer demand and government spending held back expansion. GDP Annual Growth Rate in India averaged 6.21 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 6.50 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 6.90 in 12 months time. In the long-term, the India GDP Annual Growth Rate is projected to trend around 6.50 percent in 2020, according to our econometric models.

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Calendar	GMT		Actual	Previous	Consensus	TEForecast
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	12:15 PM	Fiscal Year GDP Growth Final	7.2%	8.2%		7.5%
2019-02-28	12:00 PM	GDP Growth Rate YoY	6.6%	7%	6.9%	7%
2019-05-31	12:00 PM	GDP Growth Rate YoY		6.6%		6.5%
2019-08-30	12:00 PM	GDP Growth Rate YoY				6.7%
2019-11-29	12:00 PM	GDP Growth Rate YoY				6.6%

India GDP Grows Less than Expected in Q4

The Indian economy advanced 6.6 percent year-on-year in the last three months of 2018, below a downwardly revised 7 percent expansion in the previous period and market expectations of 6.9 percent. It is the lowest growth rate in five quarters, due to a slowdown in both private and public expenditure, manufacturing and agriculture.

Slower growth rates were seen in household spending (8.4 percent compared to 9.8 percent in Q3); government consumption (6.5 percent compared to 10.8 percent) and inventories (3.9 percent compared to 4.2 percent). On the other hand, gross fixed capital formation rose slightly faster (10.6 percent compared to 10.2 percent). The was also lower negative contribution from external trade as exports increased at a faster 14.6 percent (13.9 percent) and imports slowed (14.7 percent compared to 21.4 percent).

Household spending accounted for 59.1 percent of the GDP (56.1 percent in Q3); gross fixed capital formation for 33.1 percent (32 percent in Q3); public expenditure for 9.7 percent (11.9 percent in Q3); and changes in stocks for 1.1 percent, the same as in Q3. Exports accounted for 21.4 percent (21.4 percent in Q3) while imports subtracted 25.8 percent (-26.6 percent in Q3).

Gross Value Added, that is, GDP excluding taxes expanded 6.3 percent, below 6.8 percent in the previous period. A slowdown was seen in manufacturing (6.7 percent compared to 6.9 percent in the previous period); agriculture, forestry and fishing (2.7 percent compared to 4.2 percent); and public administration and defence (7.6 percent compared to 8.7 percent). Also, trade, hotel, transport, communication and services related to broadcasting went up 6.9 percent, the same as in Q3. On the other hand, financial, real estate and professional services (7.3 percent compared to 7.2 percent); and construction (9.6 percent compared to 8.5 percent) rose faster; and mining rebounded (1.3 percent compared to -21 percent).

The government revised down its estimate for FY 2018/2019 (April 2018 to March 2019) growth to 7 percent from 7.2 percent earlier projected.

Joana Taborda | joana.taborda@tradingeconomics.com
2/28/2019 12:54:53 PM

News

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.
Published on 2018-11-30

India GDP Growth Highest in Over 2 Years
The Indian economy grew 8.2 percent year-on-year in the second quarter of 2018, above 7.7 percent in the previous three months and beating market expectations of 7.6 percent. It is the strongest growth rate since the first quarter of 2016, boosted by household spending, financial, real estate and manufacturing activities.
Published on 2018-08-31

India GDP Growth Beats Forecasts at 7.7% in Q1
The Indian economy expanded 7.7 percent year-on-year in the first three months of 2018, higher than a downwardly revised 7 percent advance in the previous quarter and beating market forecasts of a 7.3 percent growth. It is the highest growth rate since the second quarter of 2016, boosted by a jump in investment. On the production side, manufacturing, agriculture and construction were the main contributors to growth.
Published on 2018-05-31

India GDP Growth Beats Forecasts in Q4
The Indian economy expanded 7.2 percent year-on-year in the last three months of 2017, well above an upwardly revised 6.5 percent advance in the previous period and beating market expectations of 6.9 percent. It is the strongest growth rate since the third quarter of 2016, boosted by a jump in investment and public spending.
Published on 2018-02-28

India GDP	Last	Previous	Highest	Lowest	Unit
GDP Growth Rate	1.50	1.80	5.80	-1.80	percent	[+]
GDP Annual Growth Rate	6.60	7.00	11.40	-5.20	percent	[+]
GDP	2597.49	2274.20	2597.49	36.54	USD Billion	[+]
GDP Constant Prices	35001.62	34412.77	35001.62	7500.43	INR Billion	[+]
Gross National Product	13954956.00	12865461.00	13954956.00	8659505.00	INR Tens Of Million	[+]
Gross Fixed Capital Formation	11575.43	10998.32	11575.43	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	5862.40	3550.64	5862.40	2690.74	INR Billion	[+]
GDP From Construction	2754.48	2535.88	2754.48	1861.37	INR Billion	[+]
GDP From Manufacturing	5650.17	5831.92	5942.29	3331.04	INR Billion	[+]
GDP From Mining	871.10	727.62	1151.85	556.18	INR Billion	[+]
GDP From Public Administration	4314.27	4191.29	4314.27	2328.98	INR Billion	[+]
GDP From Utilities	708.09	739.55	739.55	463.02	INR Billion	[+]

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 2019.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	6.60	7.00	11.40	-5.20	1951 - 2018	percent	Quarterly	NSA, 2011-12 Prices

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Country	Last		Previous	Range
India	6.60	Dec/18	7	11.4 : -5.2	%
China	6.40	Dec/18	6.5	15.4 : 3.8	%
Indonesia	5.18	Dec/18	5.17	7.16 : 1.56	%
South Korea	3.10	Dec/18	2	20.8 : -7.3	%
United States	3.10	Dec/18	3	13.4 : -3.9	%
Saudi Arabia	2.50	Sep/18	1.61	24.2 : -20.7	%
Spain	2.40	Dec/18	2.4	5.6 : -4.3	%
Australia	2.30	Dec/18	2.7	9 : -3.4	%
Netherlands	2.00	Dec/18	2.4	6.1 : -4.6	%
Singapore	1.90	Dec/18	2.4	19 : -8.8	%
Mexico	1.70	Dec/18	2.5	9 : -9.1	%
Canada	1.60	Dec/18	1.9	9.3 : -4.1	%
Russia	1.50	Sep/18	1.9	12.1 : -11.2	%
Switzerland	1.40	Dec/18	2.4	5.8 : -3.7	%
United Kingdom	1.30	Dec/18	1.6	9.7 : -6.1	%
Brazil	1.10	Dec/18	1.3	10.1 : -5.5	%
Euro Area	1.10	Dec/18	1.6	5 : -5.5	%
South Africa	1.10	Dec/18	1.3	7.1 : -2.6	%
France	0.90	Dec/18	1.3	12.6 : -3.8	%
Germany	0.60	Dec/18	1.1	7.2 : -6.8	%
Japan	0.30	Dec/18	0.1	9.4 : -8.8	%
Italy	0.00	Dec/18	0.6	10.3 : -7.2	%
Turkey	-3.00	Dec/18	1.8	11.7 : -14.4	%
Argentina	-3.50	Sep/18	-4	16.2 : -16.3	%