Real gross domestic product

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Real gross domestic product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e. inflation or deflation).^[1] This adjustment transforms the money-value measure, nominal GDP, into an index for quantity of total output. Although GDP is total output, it is primarily useful because it closely approximates the total spending: the sum of consumer spending, investment made by industry, excess of exports over imports, and government spending. Due to inflation, nominal GDP can increase even when physical output is fixed, and so does not actually reflect the true growth in an economy. That is why the GDP must be divided by the inflation rate (raised to the power of units of time in which the rate is measured) to get the growth of the real GDP. Different organizations use different types of 'Real GDP' measures, for example, the UNCTAD uses 2015 Constant prices and exchange rates while the FRED uses 2009 constant prices and exchange rates, and recently the World Bank switched from 2005 to 2010 constant prices and exchange rates.^[2][3][4]

Real GDP contrasts with real gross domestic income, which is adjusted for price changes with a different method.

10 largest countries by GDP according to the UNCTAD at 2015 constant prices and exchange rates, 2023^[3]

Economy	Top 10 countries by GDP in 2023 (millions in 2015 constant USD and exchange rates)
(01)  United States	22,062,582
(02)  China	17,175,673
(03)  Japan	4,605,912
(04)  Germany	3,692,367
(05)  India	3,281,972
(06)  United Kingdom	3,234,504
(07)  France	2,671,235
(08)  Italy	2,010,975
(09)  Brazil	1,961,081
(10)  Canada	1,783,096