Measuring TT growth

THE EDITOR: We cannot measure or rate TT’s economy by vehicle sales only. Please note well.

Gross domestic product, GDP, is the best way to measure economic growth. It takes into consideration TT’s entire economic output.

It includes all goods and services that businesses in the country produce for sale. It does not matter whether they are sold domestically or overseas. GDP measures final production.

Most countries measure economic growth each quarter. The most accurate measurement of growth is real GDP. It removes the effect of inflation.

TT will improve its standard of living when it factors in environmental costs. A society only measures what it values.

Are we clear?

AV RAMPERSAD, Princes Town