National Accounts: GDP by Expenditure: Current Prices: Government Final Consumption Expenditure for Slovak Republic
Annual
SVKGFCEADSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,616,430,000.00
Year-over-Year Change
71.34%
Date Range
1/1/1995 - 1/1/2022
Summary
The Annual Gross Domestic Product (GDP) series measures the total value of all goods and services produced within a country over the course of a year. It is a key indicator of economic growth and performance.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Annual GDP series represents the broadest measure of economic activity in a country. It captures the value added by all industries and sectors, providing a comprehensive snapshot of a nation's economic health and development.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using income, expenditure, and output approaches to measure the total economic output.
Historical Context
Annual GDP is closely watched by policymakers, investors, and analysts to gauge the overall strength of the economy and inform decisions around fiscal and monetary policy.
Key Facts
- The U.S. Annual GDP in 2021 was over $23 trillion.
- GDP growth is a primary goal of economic policy.
- Annual GDP data is released quarterly by the BEA.
FAQs
Q: What does this economic trend measure?
A: The Annual Gross Domestic Product (GDP) series measures the total value of all goods and services produced within a country over the course of a year.
Q: Why is this trend relevant for users or analysts?
A: Annual GDP is a crucial indicator of a country's overall economic health and performance, providing important context for policymakers, investors, and analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using income, expenditure, and output approaches to measure the total economic output.
Q: How is this trend used in economic policy?
A: Annual GDP data is closely watched by policymakers to gauge the strength of the economy and inform decisions around fiscal and monetary policy.
Q: Are there update delays or limitations?
A: The Annual GDP data is released quarterly by the Bureau of Economic Analysis, with some inherent delays in the reporting process.
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Citation
U.S. Federal Reserve, Annual Gross Domestic Product (SVKGFCEADSMEI), retrieved from FRED.