The Indian economy advanced 5 percent year-on-year in the second quarter of 2019, slowing from a 5.8 percent expansion in the prior period and missing market consensus of 5.7 percent. It was the weakest growth rate since the first quarter of 2013, amid a slowdown in manufacturing and construction sectors. GDP Annual Growth Rate in India averaged 6.20 percent from 1951 until 2019, 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 5.50 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 6.50 in 12 months time. In the long-term, the India GDP Annual Growth Rate is projected to trend around 5.50 percent in 2020, according to our econometric models.

India GDP Annual Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-01-31 12:15 PM Fiscal Year GDP Growth Final 2017-18 7.2% 8.2% 7.5%
2019-02-28 12:00 PM GDP Growth Rate YoY Q4 6.6% 7% 6.9% 7%
2019-05-31 12:00 PM GDP Growth Rate YoY Q1 5.8% 6.6% 6.3% 6.1%
2019-08-30 12:00 PM GDP Growth Rate YoY Q2 5% 5.8% 5.7% 5.6%
2019-11-29 12:00 PM GDP Growth Rate YoY Q3 5% 5.5%



Indian GDP Growth Weakest in Over 6 Years

The Indian economy advanced 5 percent year-on-year in the second quarter of 2019, slowing from a 5.8 percent expansion in the prior period and missing market consensus of 5.7 percent. It was the weakest growth rate since the first quarter of 2013, amid a slowdown in manufacturing and construction sectors.

Gross Value Added, that is, GDP excluding taxes grew 4.9 percent in the three months to June, easing from a 5.7 percent expansion in the previous quarter. Output growth slowed in manufacturing (0.6 percent from 3.1 percent in Q1); construction (5.7 percent from 7.1 percent); mining (2.7 percent from 4.2 percent);  public administration and defence (8.5 percent from 10.7 percent); and financial, real estate and professional services (5.9 percent from 9.5 percent). On the other hand, agriculture, forestry and fishing activities rose 2 percent, rebounding from a 0.1 percent contraction in the previous quarter and trade, hotel, transport, communication and services related to broadcasting went up 7.1 percent, faster than a 6 percent in Q1. 

On the expenditure side, household spending accounted for 55.1 percent of the GDP (56.8 percent in Q1); gross fixed capital formation for 32.5 percent (30.7 percent in Q1); public expenditure for 11.8 percent (9.9 percent in Q1); and changes in stocks for 1.1 percent, the same as in the first quarter of 2019. Exports accounted for 20.6 percent (20 percent in Q1) while imports subtracted 25.1 percent (-23.3 percent in Q1).

Slower growth rates were recorded in household spending (3.1 percent from 7.2 percent in Q1) and government consumption (8.9 percent from 13.2 percent). In contrast, gross fixed capital formation (4 percent from 3.6 percent) and inventories (2.1 percent from 1 percent) rose further. Net external trade contributed positevely to the GDP, as exports went up 5.7 percent (vs 10.6 percent in Q1) and imports increased at a softer 4.2 percent (vs 13.3 percent in Q1).


Stefanie Moya | stefanie.moya@tradingeconomics.com
8/30/2019 1:46:49 PM



India GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.00 1.30 5.80 -1.80 percent [+]
GDP Annual Growth Rate 5.00 5.80 11.40 -5.20 percent [+]
GDP 2726.32 2652.55 2726.32 37.03 USD Billion [+]
GDP Constant Prices 35851.75 37198.30 37198.30 7500.43 INR Billion [+]
Gross National Product 13954956.00 12865461.00 13954956.00 8659505.00 INR Tens Of Million [+]
Gross Fixed Capital Formation 11663.34 11421.62 11690.21 2021.90 INR Billion [+]
GDP per capita 2104.20 1987.30 2104.20 330.20 USD [+]
GDP per capita PPP 6899.20 6516.20 6899.20 1887.00 USD [+]
GDP From Agriculture 4335.47 4860.94 5869.41 2690.74 INR Billion [+]
GDP From Construction 2812.62 2586.14 2812.62 1861.37 INR Billion [+]
GDP From Manufacturing 5681.04 6167.49 6167.49 3331.04 INR Billion [+]
GDP From Mining 988.87 1139.86 1139.86 556.18 INR Billion [+]
GDP From Public Administration 4166.28 4610.20 4610.20 2328.98 INR Billion [+]
GDP From Utilities 786.82 692.04 786.82 463.02 INR Billion [+]


India GDP Annual Growth Rate

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 2019.

Actual Previous Highest Lowest Dates Unit Frequency
5.00 5.80 11.40 -5.20 1951 - 2019 percent Quarterly
NSA, 2011-12 Prices




Country Last Previous
China 6.20 Jun/19
Indonesia 5.05 Jun/19
India 5.00 Jun/19
United States 2.30 Jun/19
Spain 2.10 Jun/19
Netherlands 2.00 Jun/19
South Korea 2.00 Jun/19
Saudi Arabia 1.70 Mar/19
Canada 1.60 Jun/19
Australia 1.40 Jun/19
France 1.40 Jun/19
Euro Area 1.20 Jun/19
United Kingdom 1.20 Jun/19
Brazil 1.00 Jun/19
Japan 1.00 Jun/19
Russia 0.90 Jun/19
South Africa 0.90 Jun/19
Argentina 0.60 Jun/19
Germany 0.40 Jun/19
Switzerland 0.20 Jun/19
Singapore 0.10 Jun/19
Italy -0.10 Jun/19
Mexico -0.80 Jun/19
Turkey -1.50 Jun/19


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