GDP (Gross Domestic Product)
GDP (Gross Domestic Product) is the value of a country's overall output of goods
and services (typically during one fiscal year) at market prices, excluding net income from abroad.
It is calculated at purchaser's prices and is the sum of gross value added by all resident producers
in the economy plus any product taxes and minus any subsidies not included in the value of the
products. It is calculated without making deductions for depreciation of fabricated assets or for
depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for
GDP are converted from domestic currencies using single year official exchange rates. For a few
countries where the official exchange rate does not reflect the rate effectively applied to actual
foreign exchange transactions, an alternative conversion factor is used (The World Bank Economic
Development Indicator).
Why does it matterGDP generally measures the
economic capacity/vitality of a country for a given year.
SourceWorld bank Development indicators - http://data.worldbank.org/
GDP per capita
GDP per capita is gross domestic product divided by midyear population. GDP is the
sum of gross value added by all resident producers in the economy plus any product taxes and minus
any subsidies not included in the value of the products. It is calculated without making deductions
for depreciation of fabricated assets or for depletion and degradation of natural resources. Data
are in current U.S. dollars (The World Bank Economic Development Indicator).
Why does it matterDividing the GDP by the
number of persons gives an indication of the individuals economic well-being in a country for a
given year.
SourceWorld bank Development indicators - http://data.worldbank.org/
Capital stock
Capital stock as referred to in GAR15 in the context of risk assessments is the
total value of commercial and residential buildings, schools and hospitals in each country. This
excludes infrastructure such as roads, telecommunications and water supply (UNDRR).
Why does it matterCapital stock as defined in
GAR 15, gives an idea of the value of the exposed assets and can be used to assess a country's
average annual loss or probable maximum loss.
SourceGAR 2014 - https://www.preventionweb.net; Di Bono,
2014
GFCF (Gross Fixed Capital Formation)
GFCF (Gross Fixed Capital Formation) - formerly gross domestic fixed investment -
includes land improvements (fences, ditches, drains, and so on); plant, machinery, and equipment
purchases; and the construction of roads, railways, and the like, including schools, offices,
hospitals, private residential dwellings, and commercial and industrial buildings. According to the
1993 SNA, net acquisitions of valuables are also considered capital formation. Data are in current
U.S. dollars (The World Bank Economic Development Indicator).
Why does it matterIn the context of GAR, GFCF
is the total investment of a country in new infrastructure and improvement of existing
infrastructure for a given year. This indicator is compared with Average Annual Loss (AAL ) giving
an idea of how much investment would be needed to cover future losses. GFCF is flow concept of a
given year while capital stock is accumulated stock concept.
SourceWorld bank Development indicators - http://data.worldbank.org/
Social Expenditure
Social Expenditure relates to government spending on education, health and social
protection (The World Bank Economic Development Indicator).
Why does it matterIn the context of GAR,
social expenditure is compared with Average Annual Loss (AAL )to provide an idea of the implications
of the potential negative impact on the social expenditure and accompanying loss of social welfare
of a country.
SourceInternational Labour Organisation, ILO:
Total Social Protection expenditure, 2012; Public Health Care expenditure, 2012; World Bank
Development indicators, Public Education expenditure, 2011
Total reserves
Total reserves minus gold comprise special drawing rights, reserves of IMF members
held by the IMF, and holdings of foreign exchange under the control of monetary authorities. Gold
holdings are excluded. Data are in current U.S. dollars (The World Bank Economic Development
Indicator).
Why does it matterTotal reserves suggests an
element of a countries' capacity and ability to finance disaster recovery and reconstruction.
SourceWorld bank Development indicators - http://data.worldbank.org/
