Difference

Between
Economic Growth
&
Economic
二
一

Development
1. Economic Growth is a
narrow concept usually
used in reference to
size or physical
development.
Development
二
一
overall is a
more general/wider
concept that envelops the
term growth.
2 Growth is just
.

‘getting bigger’,
whereas
二development is
一

improvement.
Increase in the
value of goods
and services
produced
二
一
by every
sector of the
economy.
3. Growth simply shows
an increase in something
you can see or count. A
tree can grow. An
organization can grow,
adding people to it.
4. Growth is related to
quantitative
improvement,
development is related
to both quantitative as
well as qualitative
improvement.
5. Growth may also be
referring to growth in mass
or numbers. Whereas,
development can be use to
refer to any and all
improvement, acquisition
of skills, as well as increase
in levels of quality and
innovation.
6. The most accurate
method of measuring
development is
the Human Development
Index which takes into
accounts the literacy
rates & life expectancy.
7. Growth can be perceived
and can be measured
accurately, whereas
development cannot
necessarily be perceived
on average and cannot be

measured accurately.
8. Economic growth indicates the
quantitative growth of the country.
Example: Gross Domestic Product
of a country indicates the
economic growth of the country.
Economic development indicates
the qualitative growth of a country.
Example: Human development
index of a country indicates its
economic development.