Prerequisites for this assignment: pandas, plotly, numpy
Gross Domestic Product (GDP) is a measure of the size and health of an economy. It represents the total value of all goods and services produced within a country over a specific period of time, usually a year. GDP is considered a key indicator of a country's economic performance and is used to compare the economic output of different countries.
There are several ways to analyze GDP data. One way is to compare GDP growth over time to get a sense of how an economy is expanding or contracting. Another way is to compare GDP per capita, which is GDP divided by the population of a country, to get a sense of the average standard of living in a country.
Dataset Walkthrough A dataset walkthrough involves analyzing and understanding the contents of a dataset. It is an important step in the data analysis process as it helps you become familiar with the data and identify any issues or limitations that may affect your analysis. A dataset walkthrough is a crucial step in the data analysis process that can help you become familiar with the data and identify any issues or limitations that may affect your analysis.
GDP Growth on whole Dataset
GDP growth refers to the percentage change in GDP from one period to another. For example, if a country's GDP in one year was 100 and the next year it was 105, the GDP growth rate would be 5%.
It is not clear what you mean by a "whole dataset" in this context. If you have data on GDP for a particular country or region and want to calculate the GDP growth rate, you can do so by using the formula:
GDP growth rate = (GDP in current period - GDP in previous period) / GDP in previous period * 100
For example, if a country's GDP in 2020 was 100 and in 2021 it was 105, the GDP growth rate would be calculated as follows:
GDP growth rate = (105 - 100) / 100 * 100 = 5%
Plotting Graphs Using Plotly
Plotly is a powerful tool for creating interactive plots and charts in Python. It is particularly useful for data visualization and exploration.
To use Plotly, you will need to install the library and set up an account at https://plotly.com/. You will also need to install the following libraries:
plotly pandas (if you want to use Plotly with data stored in a Pandas DataFrame) Once you have these libraries installed, you can start creating plots using the plotly.express module or the plotly.graph_objects module.
Compare GDP across Countries
So we have used plotly to display the GDP of all the countries in our data Now if we want to compare the GDP of India and China we can visualise that as well with the help of plotly.
So we can see the GDP of China grew much faster than that of India.