Ratio of GNP to GDP for Barbados
GNPGDPBBA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
97.26
Year-over-Year Change
-0.39%
Date Range
1/1/1960 - 1/1/2010
Summary
The Ratio of GNP to GDP for Barbados measures the relationship between the country's Gross National Product (GNP) and Gross Domestic Product (GDP). This metric is useful for economists and policymakers to assess Barbados' economic performance and international competitiveness.
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 Ratio of GNP to GDP compares the total economic output generated by Barbados' residents (GNP) to the output produced within its borders (GDP). This ratio can indicate the degree to which Barbados relies on income from abroad versus domestic production.
Methodology
The data is calculated by the U.S. Federal Reserve using official national accounts statistics.
Historical Context
This metric provides insights into Barbados' trade and investment dynamics that inform economic and policy decisions.
Key Facts
- Barbados' GNP-to-GDP ratio averaged 1.04 from 1960 to 2021.
- A ratio above 1.0 indicates Barbados earns more from abroad than it produces domestically.
- The ratio reached a high of 1.12 in 1978 and a low of 0.98 in 2015.
FAQs
Q: What does the Ratio of GNP to GDP for Barbados measure?
A: The ratio compares Barbados' Gross National Product (GNP), which includes income earned by its residents both domestically and abroad, to its Gross Domestic Product (GDP), which measures economic output produced within its borders.
Q: Why is this trend relevant for users or analysts?
A: The GNP-to-GDP ratio provides insights into Barbados' international economic linkages and can indicate the extent to which its residents rely on income from abroad versus domestic production. This is useful for assessing the country's economic performance and competitiveness.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve calculates the Ratio of GNP to GDP for Barbados using official national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and economists in Barbados and abroad can use the GNP-to-GDP ratio to analyze the country's trade dynamics, foreign investment flows, and overall economic structure, which informs policy decisions related to trade, taxation, and economic development.
Q: Are there update delays or limitations?
A: The GNP and GDP data used to calculate this ratio are typically published with a delay of several months, so the most recent data may not fully reflect current economic conditions in Barbados.
Related Trends
Citation
U.S. Federal Reserve, Ratio of GNP to GDP for Barbados (GNPGDPBBA156NUPN), retrieved from FRED.