Forecasting a state gross domestic product with logistic growth model

摘要

Gross Domestic Product (GDP) represents the total monetary value of all goods and services produced over a specific time period. This study models the GDP data of the state of Johor for year 2005-2016. A mathematical model is developed for the state GDP data using Logistic Growth model. The long-term equilibrium value for GDP were estimated using data for period 2005-2016 with different parameter values. The future GDP for the state were predicted using the suitable parameter value.