Broad Money for Benin
Percent of GDP
BENFMBGDPPT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28.41
Year-over-Year Change
-5.01%
Date Range
1/1/2000 - 1/1/2026
Summary
The 'Percent of GDP' trend measures the total government social benefits as a percentage of the gross domestic product (GDP) in the United States. This metric is important for economists and policymakers to assess the size and role of the government's social safety net within the broader economy.
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 'Percent of GDP' trend represents the total government expenditures on social benefits, including programs like Social Security, Medicare, and Medicaid, as a proportion of the country's total economic output or GDP. This measure provides insight into the government's fiscal priorities and the scale of social welfare programs.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Historical Context
Policymakers and analysts use this trend to evaluate the government's role in providing social services and the potential impacts on economic growth and fiscal sustainability.
Key Facts
- The 'Percent of GDP' trend reached a high of 21.4% in 2020 during the COVID-19 pandemic.
- Government social benefits as a share of GDP have increased from around 6% in the 1960s to over 17% today.
- The largest components of social benefits are Social Security, Medicare, and Medicaid.
FAQs
Q: What does this economic trend measure?
A: The 'Percent of GDP' trend measures the total government expenditures on social benefits, such as Social Security, Medicare, and Medicaid, as a percentage of the country's gross domestic product (GDP).
Q: Why is this trend relevant for users or analysts?
A: This trend provides insight into the size and role of the government's social safety net within the broader economy, which is relevant for policymakers, economists, and analysts evaluating fiscal priorities and the potential impacts on economic growth.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis as part of the National Income and Product Accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate the government's role in providing social services and the potential impacts on economic growth and fiscal sustainability.
Q: Are there update delays or limitations?
A: The 'Percent of GDP' data is published quarterly by the U.S. Bureau of Economic Analysis, with a typical release lag of 2-3 months.
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Citation
U.S. Federal Reserve, Percent of GDP (BENFMBGDPPT), retrieved from FRED.