Did You Know?

Even frequent users of BEA data are sometimes unsure of how to properly use the published chain-type indexes and chained-dollar levels. While the chained-dollar levels can be used to accurately calculate growth rates, they do not provide an accurate indication of relative importance or contribution to growth, especially for components that have experienced large changes in relative prices such as computers.

In order to facilitate the use of the data, BEA now provides eleven tables decomposing the real growth rates and the growth rates of prices for GDP and major GDP components. These tables accurately show the contributions of components and sub-components to the growth rate (real or price), typically providing from 20 to 50 sub-component contributions.

The tables are called “contributions to percent change” tables, and you can find them in the list of all NIPA tables. Table titles with a third number of “2” show contributions to real growth rates, and titles with a third number of “8” show contributions to growth rates of prices.

Below are two graphs demonstrating just some of the data available in these tables. As shown by the charts, services are a bigger contributor to real export growth than to real import growth.

Links for more information:

• Article explaining the presentation and availability of BEA data following the 2003 Comprehensive Revision | PDF
• Recent article on the appropriate use of chained-indexes | PDF

Source: NIPA table 4.2.2.
* Exports and imports of certain goods, primarily military equipment purchased and sold by the Federal Government, are included in services. Repairs and alterations of equipment are reclassified from goods to services.
Numbers may not add to 100 due to rounding.

Last updated: October 7, 2004