Output-side Real GDP at Current Purchasing Power Parities for Barbados
CGDPOSBBA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,577.58
Year-over-Year Change
-39.05%
Date Range
1/1/1960 - 1/1/2019
Summary
This economic indicator measures the real gross domestic product (GDP) of Barbados, adjusted for purchasing power parity (PPP). It provides insights into the size and growth of the Barbadian 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 output-side real GDP at current PPPs for Barbados represents the total value of all goods and services produced within the country, adjusted for differences in price levels between Barbados and a reference economy. This metric is used by economists and policymakers to compare economic output and living standards across countries.
Methodology
The data is collected and calculated by the World Bank using national accounts and PPP conversion factors.
Historical Context
This indicator is widely used to analyze Barbados' economic performance and benchmark it against other nations.
Key Facts
- Barbados' real GDP at PPP was $6.02 billion in 2021.
- The Barbadian economy contracted by 17.6% in 2020 due to the COVID-19 pandemic.
- Barbados has a GDP per capita of $21,337 at PPP as of 2021.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the real gross domestic product (GDP) of Barbados, adjusted for differences in purchasing power parity (PPP) between Barbados and a reference economy.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for better cross-country comparisons of economic output and living standards, as it takes into account differences in price levels between Barbados and other nations.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts data and PPP conversion factors.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to analyze Barbados' economic performance and benchmark it against other countries, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture the most recent economic conditions in Barbados.
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Citation
U.S. Federal Reserve, Output-side Real GDP at Current Purchasing Power Parities for Barbados (CGDPOSBBA666NRUG), retrieved from FRED.