what are the factors behind countries’ GDP performance? For example, why do Germany seems to do “better” than Spain or Italy?

Question

what are the factors behind countries’ GDP performance? For example, why do Germany seems to do “better” than Spain or Italy?

In: 10

Answer 1

GDP = Consumption + investments + gov spending + net exports

It’s how much people spend on stuff + business expenditures + how much the gov spends on stuff + (exports – imports)

You can also calculate it based on how much people earn and the value of goods made – costs.

I majored in economics in my opinion these metrics will be obsolete unless heavily modified due to automation and stuff