GROSS DOMESTIC PRODUCT (GDP) 1. Size of GDP 2. GDP growth 3. GDP per capita

NATIONAL ACCOUNTS AT A GLANCE 2010 © OECD 2011

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GROSS DOMESTIC PRODUCT (GDP)

1. Size of GDP Gross Domestic Product (GDP) is the standard measure of the value of final goods and services produced by a country during a period. While GDP is the single most important indicator to capture these economic activities, it is not a good measure of societies’ wellbeing and only a limited measure of people’s material living standards. The sections and indicators that follow better address this and other related issues and this is one of the primary purposes of this publication. Countries calculate GDP in their own currencies. In order to compare across countries these estimates have to be converted into a common currency. Often the conversion is made using current exchange rates but these can give a misleading comparison of the true volumes of final goods and services in GDP. A better approach is to use purchasing power parities (PPPs). PPPs are currency converters that control for differences in the price levels of products between countries and so allow an international comparison of the volumes of GDP and of the size of economies.

Comparability Comparability is good but in some countries, for example in specific areas such as the own account production of software or financial intermediation services (indirectly measured) (FISIM), differences remain, which can impact on comparisons of GDP. The measurement of the non-observed economy (NOE, often referred to as the informal, grey, shadow, economy) can also have an impact on comparability, although for OECD economies, in general, this is not thought to be significant. (See also “Reader’s Guide”, relating to PPP based comparisons.) For some countries, the latest year has been estimated by the Secretariat. Historical data have also been estimated for those countries that revise their methodologies but only supply revised data for some years. This estimation process mechanically links the new and old series to preserve growth rates.

Source

Definition What does gross domestic product mean? “Gross” signifies that no deduction has been made for the depreciation of machinery, buildings and other capital products used in production. “Domestic” means that it is production by the resident institutional units of the country. The products refer to final goods and services, that is, those that are purchased, imputed or otherwise, as: the final consumption of households, non-profit institutions serving households and government; fixed assets; and exports (minus imports).

• OECD (2010), National Accounts of OECD Countries 2010, Volume I, Main Aggregates, OECD Publishing, http://dx.doi.org/10.1787/na_vol_1-2010-en.

Online database • OECD (2010), “Aggregate National Accounts: Gross domestic product”, OECD National Accounts Statistics (database), http://dx.doi.org/10.1787/data-00001-en.

Further reading

GDP at market prices can be measured in three different ways:

• Lequiller, F., N. Ahmad, S. Varjonen, W. Cave and K.H. Ahn (2003), Report of the OECD Task Force on Software Measurement in the National Accounts, OECD Publishing, http://dx.doi.org/10.1787/334811030426.

• as output less intermediate consumption (i.e. value added) plus taxes on products (such as VAT) less subsidies on products;

• Ahmad, N. (2003), Measuring Investment in Software, OECD Publishing, http://dx.doi.org/10.1787/335303788330.

• as the income earned from production, equal to the sum of: employee compensation; the gross operating surplus of enterprises and government; the gross mixed income of unincorporated enterprises; and net taxes on production and imports (VAT, payroll tax, import duties, etc., less subsidies);

• OECD (2002), Measuring the Non-Observed Economy: A Handbook, OECD Publishing, http://dx.doi.org/10.1787/9789264175358-en.

• or as the expenditure on final goods and services minus imports: final consumption expenditures, gross capital formation, and exports less imports.

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• Lequiller, F. and D. Blades (2007), Understanding National Accounts, OECD Publishing, http://dx.doi.org/10.1787/9789264027657-en. • OECD (2000), System of National Accounts, 1993 – Glossary, OECD Publishing, http://dx.doi.org/10.1787/9789264180871-en. • UN, OECD, IMF and Eurostat (eds.) (1993), System of National Accounts 1993, United Nations, Geneva, http://unstats.un.org/unsd/sna1993.

NATIONAL ACCOUNTS AT A GLANCE 2010 © OECD 2011

GROSS DOMESTIC PRODUCT (GDP) 1. Size of GDP Table 1.1. Gross domestic product, current PPPs Billion US dollars

Australia Austria Belgium Canada Chile Czech Republic Denmark Finland France Germany Greece Hungary Iceland Ireland Israel* Italy Japan Korea Luxembourg Mexico Netherlands New Zealand Norway Poland Portugal Slovak Republic Slovenia Spain Sweden Switzerland Turkey United Kingdom United States Euro area OECD-Total

1996 422 194 232 690 117 141 127 99 1 241 1 888 163 97 6 71 100 1 240 2 964 647 17 736 e 352 67 114 311 141 48 27 659 200 194 466 e 1 218 7 784 6 385 22 527 e

1997 448 199 243 732 127 142 133 108 1 301 1 935 173 104 7 80 105 1 285 3 062 691 17 800 e 376 71 123 340 150 52 29 700 208 203 511 e 1 308 8 279 6 663 23 778 e

1998 475 208 248 770 133 144 139 116 1 369 1 989 179 111 8 89 110 1 350 3 031 653 18 849 e 400 72 121 362 159 56 31 750 216 210 535 1 363 8 741 6 979 24 735 e

1999 512 216 259 825 134 147 143 122 1 425 2 064 185 115 8 97 131 1 377 3 071 727 21 894 e 426 77 133 383 170 56 33 792 230 215 518 1 423 9 301 7 260 25 933 e

2000 540 231 283 874 143 154 154 133 1 535 2 133 201 124 8 109 148 1 458 3 250 809 23 987 e 468 81 162 404 182 59 35 859 248 228 589 1 535 9 899 7 727 27 721 e

2001 570 232 293 910 151 165 158 138 1 630 2 212 218 138 9 118 151 1 546 3 330 861 24 1 009 e 494 86 167 419 190 65 37 920 251 234 561 1 630 10 234 8 136 28 811 e

2002 602 244 310 938 157 172 165 143 1 711 2 275 237 150 9 130 155 1 532 3 417 936 26 1 048 e 516 90 168 442 198 70 39 994 261 245 572 1 714 10 590 8 448 29 907 e

2003 640 252 314 989 167 184 164 144 1 700 2 357 250 156 9 138 149 1 563 3 510 966 27 1 109 514 94 175 458 202 73 41 1 039 272 246 588 1 777 11 089 8 637 31 001

2004 676 266 324 1 049 182 197 174 156 1 767 2 466 266 165 10 148 161 1 595 3 708 1 039 30 1 187 540 100 194 497 208 79 44 1 108 292 257 688 1 902 11 812 9 023 32 904

2005 721 275 337 1 132 198 208 180 161 1 869 2 587 273 171 10 161 162 1 649 3 873 1 097 32 1 294 573 104 219 526 225 87 47 1 188 295 266 781 1 971 12 580 9 489 34 844

2006 775 300 360 1 202 214 230 196 174 2 001 2 778 300 185 11 180 176 1 782 4 070 1 174 37 1 435 622 113 248 575 242 99 51 1 338 324 296 895 2 119 13 336 10 292 37 397

2007 830 314 377 1 264 230 254 203 191 2 121 2 926 317 192 12 198 192 1 885 4 285 1 269 41 1 527 667 121 259 636 254 112 55 1 447 352 326 961 2 191 13 995 10 937 39 526

2008 848 332 396 1 297 244 269 212 200 2 222 3 032 335 209 12 191 202 1 956 4 316 1 306 44 1 623 708 124 290 692 268 125 59 1 503 364 347 1 040 2 287 14 297 11 405 40 847

2009 870 e 321 391 1 280 243 265 204 185 2 172 2 970 328 198 12 179 207 1 922 4 140 e 1 324 42 1 535 e 675 125 e 266 728 261 122 56 1 500 353 349 1 040 2 252 14 044 11 159 40 052 e

1 2 http://dx.doi.org/10.1787/888932351645

Figure 1.1. Gross domestic product, current exchanges rates and current PPPs The seven largest economies in the OECD. Percentage of OECD total, 2009

Current exchange rates

Current purchasing power parities (PPPs) Other OECD countries 29%

Other OECD countries 25%

United States 34%

United States 35%

Spain 4% Mexico 4%

Italy 5%

Italy 5% Japan 12%

United Kingdom 5% France 7%

Germany 8%

France 5% United Kingdom 6%

Japan 10% Germany 7%

1 2 http://dx.doi.org/10.1787/888932351056

* The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law.

NATIONAL ACCOUNTS AT A GLANCE 2010 © OECD 2011

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GROSS DOMESTIC PRODUCT (GDP)

2. GDP growth Changes in the size of economies are usually measured by changes in the volume (often referred to as real) of GDP. Real reflects the fact that changes in GDP due to inflation are removed. This provides a measure of changes in the volume of production of an economy.

Definition Converting nominal values of GDP to real values requires a set of detailed price indices, implicit or directly collected. When applied to the nominal value of transactions, the corresponding volume changes can be captured. The detailed volume changes for goods and services – typically several hundred – are then aggregated to yield an overall change in the volume of GDP. In the past, most countries used fixed weights for this aggregation and the base year to which weights related was only modified every five to ten years. It is important to recognise that growth rates are not invariant to the choice of this reference period and measures of growth could turn out to be biased for reporting years that were remote from the base year. Since the 1993 System of National Accounts it has therefore been recommended that weights should be representative of the periods for which growth rates are calculated. This means that new weights should be introduced every year, giving rise to chain-linked (volume) indices (see Comparability, below).

volume estimates of GDP, particularly in respect of government consumption, but this doesn’t necessarily mean that growth rates are less comparable. With the exception of Mexico and Chile, all OECD countries derive their annual estimates of real GDP using annually chain-linked volume indices (that is the fixed prices/weights are updated every year). Mexico and Chile, like many non-OECD countries, revise their fixed weights less frequently. Such practices however tend to lead to biased growth rates, usually upward.

Source • OECD (2010), National Accounts of OECD Countries 2010, Volume I, Main Aggregates, OECD Publishing, http://dx.doi.org/10.1787/na_vol_1-2010-en.

Online database • OECD (2010), “Aggregate National Accounts: Gross domestic product”, OECD National Accounts Statistics (database), http://dx.doi.org/10.1787/data-00001-en.

Further reading • Ahmad, N., F. Lequiller, P. Marianna, D. Pilat, P. Schreyer and A. Wölfl (2003), Comparing Labour Productivity Growth in the OECD Area: The Role of Measurement, OECD Publishing, http://dx.doi.org/10.1787/838342850485. • Eurostat (2001), Handbook on Price and Volume Measures in National Accounts, Eurostat, Luxembourg. • Lequiller, F. and D. Blades (2007), Understanding National Accounts, OECD Publishing, http://dx.doi.org/10.1787/9789264027657-en.

Comparability

• OECD (2000), System of National Accounts, 1993 – Glossary, OECD Publishing, http://dx.doi.org/10.1787/9789264180871-en.

As described in Section 1, comparability of nominal values of GDP across countries is good. There is generally some variability in how countries calculate their

• UN, OECD, IMF and Eurostat (eds.) (1993), System of National Accounts 1993, United Nations, Geneva, http://unstats.un.org/unsd/sna1993.

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NATIONAL ACCOUNTS AT A GLANCE 2010 © OECD 2011

GROSS DOMESTIC PRODUCT (GDP) 2. GDP growth Table 2.1. Gross domestic product, volume Annual growth rates in percentage

Australia Austria Belgium Canada Chile Czech Republic Denmark Finland France Germany Greece Hungary Iceland Ireland Israel* Italy Japan Korea Luxembourg Mexico Netherlands New Zealand Norway Poland Portugal Slovak Republic Slovenia Spain Sweden Switzerland Turkey United Kingdom United States Euro area OECD-Total

1996 3.9 2.2 1.4 1.6 7.4 4.0 2.8 3.6 1.1 1.0 2.4 e 0.7 4.8 8.1 e 5.5 1.1 2.6 7.2 1.5 5.2 e 3.4 3.4 5.1 6.2 3.7 6.9 3.6 2.4 1.6 0.6 7.0 e 2.9 3.8 1.6 3.1 e

1997 4.4 2.1 3.7 4.2 6.6 -0.7 3.2 6.2 2.2 1.8 3.6 e 3.9 4.9 11.5 3.3 1.9 1.6 5.8 5.9 6.8 e 4.3 1.7 5.4 7.1 4.4 4.4 4.9 3.9 2.7 2.1 7.5 e 3.3 4.5 2.6 3.6 e

1998 5.2 3.6 1.9 4.1 3.3 -0.8 2.2 5.0 3.5 2.0 3.4 e 4.8 6.3 8.4 4.1 1.4 -2.0 -5.7 6.5 5.0 e 3.9 0.5 2.7 5.0 5.0 4.4 3.6 4.5 4.2 2.6 3.1 e 3.6 4.4 2.8 2.7 e

1999 4.0 3.3 3.5 5.5 -0.7 1.3 2.6 3.9 3.3 2.0 3.4 e 4.1 4.1 10.9 3.3 1.5 -0.1 10.7 8.4 3.8 e 4.7 5.3 2.0 4.5 4.1 0.0 5.4 4.7 4.7 1.3 -3.4 3.5 4.9 2.9 3.5 e

2000 2.0 3.7 3.7 5.2 4.5 3.6 3.5 5.3 3.9 3.2 4.5 e 4.9 4.3 9.7 9.1 3.7 2.9 8.8 8.4 6.6 e 3.9 2.4 3.3 4.3 3.9 1.4 4.4 5.0 4.5 3.6 6.8 3.9 4.2 3.9 4.2 e

2001 3.8 0.5 0.8 1.8 3.3 2.5 0.7 2.3 1.9 1.2 4.2 3.8 3.9 5.7 -0.1 1.8 0.2 4.0 2.5 0.0 e 1.9 3.5 2.0 1.2 2.0 3.5 2.8 3.6 1.3 1.2 -5.7 2.5 1.1 1.9 1.3 e

2002 3.2 1.6 1.4 2.9 2.2 1.9 0.5 1.8 1.0 0.0 3.4 4.1 0.1 6.5 -0.6 0.5 0.3 7.2 4.1 0.8 e 0.1 4.9 1.5 1.4 0.7 4.6 4.0 2.7 2.5 0.4 6.2 2.1 1.8 0.9 1.7 e

2003 4.1 0.8 0.8 1.9 4.0 3.6 0.4 2.0 1.1 -0.2 5.9 4.0 2.4 4.4 1.5 0.0 1.4 2.8 1.5 1.4 e 0.3 4.3 1.0 3.9 -0.9 4.8 2.8 3.1 2.3 -0.2 5.3 2.8 2.5 0.8 2.0 e

2004 2.8 2.5 3.2 3.1 6.0 4.5 2.3 4.1 2.5 1.2 4.4 4.5 7.7 4.6 5.1 1.5 2.7 4.6 4.4 4.1 2.2 3.7 3.9 5.3 1.6 5.0 4.3 3.3 4.2 2.5 9.4 3.0 3.6 2.2 3.2

2005 3.1 2.5 1.7 3.0 5.6 6.3 2.4 2.9 1.9 0.8 2.3 3.2 7.5 6.0 4.9 0.7 1.9 4.0 5.4 3.3 2.0 3.2 2.7 3.6 0.8 6.7 4.5 3.6 3.2 2.6 8.4 2.2 3.1 1.7 2.7

2006 3.8 3.6 2.7 2.8 4.6 6.8 3.4 4.4 2.2 3.4 4.5 3.6 4.6 5.3 5.7 2.0 2.0 5.2 5.0 4.8 3.4 0.9 2.3 6.2 1.4 8.5 5.9 4.0 4.3 3.6 6.9 2.8 2.7 3.0 3.1

2007 3.7 3.7 2.9 2.2 4.6 6.1 1.7 5.3 2.4 2.7 4.3 0.8 6.0 5.6 5.3 1.5 2.4 5.1 6.6 3.4 3.9 2.9 2.7 6.8 2.4 10.6 6.9 3.6 3.3 3.6 4.7 2.7 1.9 2.8 2.7

2008 1.1 2.2 1.0 0.5 3.7 2.5 -0.9 0.9 0.2 1.0 1.3 0.8 1.0 -3.5 4.2 -1.3 -1.2 2.3 1.4 1.5 1.9 -1.4 0.8 5.1 0.0 6.2 3.7 0.9 -0.4 1.9 0.7 -0.1 0.0 0.5 0.3

2009 1.2 e -3.9 -2.8 -2.5 -1.5 -4.1 -4.7 -8.0 -2.6 -4.7 -2.3 -6.7 -6.5 -7.6 0.8 -5.0 -5.2 e 0.2 -3.7 -6.5 e -3.9 -0.4 e -1.4 1.7 -2.6 -4.7 -8.1 -3.7 -5.1 -1.9 -4.7 -5.0 -2.7 -4.1 -3.5 e

1 2 http://dx.doi.org/10.1787/888932351664

Figure 2.1. Gross domestic product, volume Average annual growth rates between 1999 and 2009

5.0 4.5 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 It a l Ja y Ge pan rm De an nm y Po ar k r Eu t u g a ro l ar e Fr a an Be ce N l Un e t h giu i t e er m d lan Ki d ng s do m A S w us i t z tr ia O E er l a Un C D nd i te to t d al St a No tes rw M ay ex Sw ico ed F i en nl a C a nd na H d N e un a w ga Ze r y al an d Sp A u a in st ra Ic li a el Sl and ov en Cz e c Gr i a h ee R c Lu epu e xe b l m ic bo u Ir e r g la n Is d ra el* Tu rk ey Ch i Po le la Sl nd ov a k Ko r Re e a pu bl ic

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1 2 http://dx.doi.org/10.1787/888932351075 * The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law.

NATIONAL ACCOUNTS AT A GLANCE 2010 © OECD 2011

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GROSS DOMESTIC PRODUCT (GDP)

3. GDP per capita Gross Domestic Product (GDP) per capita is a core indicator of economic performance and commonly used as a broad measure of average living standards or economic well-being; despite some recognised shortcomings. For example average GDP per capita gives no indication of how GDP is distributed between citizens. Average GDP per capita may rise for example but more people may be worse off if income inequalities also increase. Equally, in some countries (see Comparability), there may be a significant number of non-resident border or seasonal workers or indeed inflows and outflows of property income and both phenomena imply that the value of production differs from the income of residents, thereby over or understating their living standards. A full discussion of these issues can be found in the Stiglitz-Sen-Fitoussi report (see “Further reading”).

some care is needed in interpretation, for example Luxembourg and, to a lesser extent, Switzerland have a relatively large number of frontier workers. Such workers contribute to GDP but are excluded from the population figures, which is one of the reasons why cross-country comparisons of income per capita based on gross or net national income (GDI and NNI) are often preferred, see second chapter on Income. (See also “Reader’s Guide”, relating to PPP based comparisons.)

Source • OECD (2010), National Accounts of OECD Countries 2010, Volume I, Main Aggregates, OECD Publishing, http://dx.doi.org/10.1787/na_vol_1-2010-en.

Online database • OECD (2010), “Aggregate National Accounts: Gross domestic product”, OECD National Accounts Statistics (database), http://dx.doi.org/10.1787/data-00001-en.

Further reading Definition The definition for GDP is described in Section 1 and population estimates are described in the Reader’s Guide. A focus on per capita GDP is also useful in decomposing drivers of overall GDP growth. For example real GDP can grow without there being any improvement in real GDP per capita. Decomposing per capita growth into two parts, labour productivity growth (measured as GDP per hour worked) and labour utilisation growth (measured as hours worked per capita) is helpful in this context.

Comparability The comparability of population and GDP estimates across countries is good (see Section 1). However,

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• Report of the Commission on the Measurement of Economic Performance and Social Progress (Stiglitz-Sen-Fitoussi Report), www.stiglitz-sen-fitoussi.fr. • OECD (2002), Measuring the Non-Observed Economy: A Handbook, International Labour Office/International Monetary Fund/International Statistical Committee of the Commonwealth of Independent States, OECD Publishing, http://dx.doi.org/10.1787/9789264175358-en. • Lequiller, F. and D. Blades (2007), Understanding National Accounts, OECD Publishing, http://dx.doi.org/10.1787/9789264027657-en. • OECD (2000), System of National Accounts, 1993 – Glossary, OECD Publishing, http://dx.doi.org/10.1787/9789264180871-en. • UN, OECD, IMF and Eurostat (eds.) (1993), System of National Accounts 1993, United Nations, Geneva, http://unstats.un.org/unsd/sna1993.

NATIONAL ACCOUNTS AT A GLANCE 2010 © OECD 2011

GROSS DOMESTIC PRODUCT (GDP) 3. GDP per capita Table 3.1. Gross domestic product per capita, OECD = 100 Based on current PPPs

Australia Austria Belgium Canada Chile Czech Republic Denmark Finland France Germany Greece Hungary Iceland Ireland Israel* Italy Japan Korea Luxembourg Mexico Netherlands New Zealand Norway Poland Portugal Slovak Republic Slovenia Spain Sweden Switzerland Turkey United Kingdom United States Euro area OECD-Total

1996 111 118 111 113 39 66 117 94 101 112 74 46 118 95 86 106 115 69 196 39 e 110 89 127 40 68 44 67 81 110 133 37 e 102 140 100 100

1997 112 116 111 114 40 64 117 97 101 109 74 47 121 101 83 105 113 70 190 40 e 112 88 130 41 69 45 68 82 109 132 39 e 104 141 100 100

1998 113 117 109 115 40 63 117 101 102 109 74 49 125 108 83 107 108 63 194 40 e 114 85 123 43 70 46 70 85 110 132 38 105 142 101 100

1999 116 116 109 117 38 62 116 102 102 108 73 49 123 112 92 104 105 67 212 40 e 116 87 129 43 72 45 72 85 112 130 35 105 144 100 100

2000 114 117 112 116 38 61 117 104 103 105 75 49 117 117 95 104 104 70 218 41 e 120 86 147 43 72 45 71 87 114 129 37 106 142 100 100

2001 115 113 112 116 38 64 116 104 105 106 79 53 120 120 92 107 103 72 212 40 e 121 87 146 43 73 48 72 89 111 126 34 109 141 102 100

2002 116 116 115 114 38 64 118 105 106 105 83 56 119 126 90 102 102 75 220 40 e 122 88 142 44 73 50 75 92 112 128 33 110 140 102 100

2003 119 115 112 116 39 67 113 102 102 106 84 57 114 128 83 101 102 75 225 40 118 88 142 44 72 50 76 92 113 123 33 111 142 101 100

2004 118 115 110 116 40 68 114 105 100 105 85 57 119 129 83 97 102 76 229 41 117 87 149 46 70 52 78 91 114 122 36 112 142 99 100

2005 117 112 108 118 41 68 111 103 99 105 82 57 117 129 78 94 101 76 229 42 118 85 158 46 71 54 79 92 109 119 38 110 142 98 100

2006 117 114 107 116 41 70 113 104 99 106 85 58 112 133 79 95 100 76 247 43 120 86 167 47 72 58 80 95 112 123 40 110 140 100 100

2007 117 113 106 115 42 73 111 108 99 106 85 57 112 135 80 95 100 78 253 43 122 86 164 50 72 62 81 96 115 128 41 107 139 100 100

2008 114 116 108 113 42 75 112 110 101 108 87 61 113 125 81 95 99 78 261 44 125 85 177 53 73 68 85 96 114 131 43 109 137 101 100

2009 118 e 115 108 113 e 43 75 110 104 101 108 87 59 112 120 83 95 97 e 81 253 43 e 122 87 e 165 57 73 67 82 98 113 134 43 109 137 101 100

1 2 http://dx.doi.org/10.1787/888932351683

Figure 3.1. Gross domestic product per capita, OECD = 100 Based on current PPPs, 2009

250

200

150

100

50

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ic o Ch il e Tu rk Po ey la Sl ov Hu n d ak ng Re ar y pu C z P bli e c or t c h ug Re a pu l bl i Ko c Sl r e a ov en Is i a ra e Ne Gr l* w eec Ze e al an d It a ly Ja pa n O E Sp C D a in to t Fr al Eu a n c ro e ar Fi ea nl Be and l Un G giu i t e er m m d K i an ng y De dom nm a Ic r k el a S w nd ed C a en na Au da s Au tr ia st ra li N e Ir e l a th an er d Sw la n Un i t z e ds i te r la d nd St at e L u Nor s xe w a m y bo ur g

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1 2 http://dx.doi.org/10.1787/888932351094 * The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements in the West Bank under the terms of international law.

NATIONAL ACCOUNTS AT A GLANCE 2010 © OECD 2011

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