GDP, by market price or factor cost?

[conworldus]

I want to know that, if all GDP data is calculate by factor cost, what would the picture look like for different countries.

For example: India's last quarter growth by factor cost was 5.3%. By market price, which is a more common practice by other countries such as China and the United States, the number would be 2.8%, according to Wall Street Journal.

What India’s GDP Figures Really Mean - India Real Time - WSJ

Anyone has data for other countries?

 

[Chinese-Dragon]

For example: India's last quarter growth by factor cost was 5.3%. By market price, which is a more common practice by other countries such as China and the United States, the number would be 2.8%, according to Wall Street Journal.

Any idea why India calculates GDP by factor cost?

When most other countries calculate GDP by market price?

 

[conworldus]

Any idea why India calculates GDP by factor cost?

When most other countries calculate GDP by market price?

No idea. Indian stats such as GDP and GINI index are collected differently than most of the world. I think a conversion would be nice to get a better picture.