Exact(4)
Annual global remittances are about $160bn – more than twice foreign aid flows and a big chunk of GDP in some countries.
For many small countries they accounted for a large chunk of GDP in 2007, for example in Tajikistan (46%), Moldova (38%) and Lebanon (24%).
In this version, as Barnes puts it, "there's no limit to what corporations can produce; their problem is finding buyers" and so "a sizeable chunk of GDP is spent to make people want this unneeded output".
As with other Gulf nations, oil is the mainstay of the economy, providing a large chunk of GDP, but compared to its neighbours Oman is a modest producer.
Similar(56)
The air is coming out of China's housing boom, and a slowdown in construction will knock a healthy chunk off of GDP:"If they build the same amount (in 2012) that they did last year, which is still a phenomenal rate of construction, then it would take GDP down to 6.6 percent," said Patrick Chovanec, an economist who teaches at Tsinghua University's School of Economics and Management in Beijing.
Even with California's unusually large chunk of the GDP, it would take a big dent in the state's economy to bring the GDP to its knees.
If the 12 TPP countries plump for common trade standards, then those rules crucially, not China's could function in effect as global ones, given the big chunk of world GDP they would govern.
National insurance schemes offer scant reassurance to savers when sovereigns are wobbly and insured deposits make up a big chunk of annual GDP (see chart).Judged against these three requirements, Europe's new plan is a miserly one.
But in the Niger delta it sometimes works.About 2m barrels of oil are pumped out of the delta's mangrove swamps every day, providing Nigeria with a variable but large chunk of its GDP (see chart), over 90% of its export earnings and almost all its tax revenue.
If the 12 TPP countries plump for common trade standards (for instance, mutual recognition of regulatory approval processes in medical services), then those rules not China's could function in effect as global ones, given the fat chunk of world GDP they would govern.Congressional Republicans and Mr Obama argue that by boosting exports, the deal would make America richer.
Around half of this is public debt; a slice of it is direct investment in big firms; but a worryingly large chunk, some 46% of GDP, is funnelled through the banking system.
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