Gross Domestic Product for Guinea-Bissau
MKTGDPGWA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,119,865,935.25
Year-over-Year Change
102.01%
Date Range
1/1/1970 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for Guinea-Bissau measures the total value of all goods and services produced within the country. It is a key indicator of economic activity and a widely-used metric for comparing the relative size and performance of national economies.
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
GDP represents the market value of all final goods and services produced in a country within a given time period, typically one year. It is a comprehensive measure of a country's economic output and is commonly used by economists, policymakers, and international organizations to assess a nation's economic health and development.
Methodology
GDP for Guinea-Bissau is calculated by the World Bank using data collected from national statistical agencies and other official sources.
Historical Context
Trends in Guinea-Bissau's GDP are closely monitored by the government, international financial institutions, and foreign investors to gauge the country's economic performance and guide policymaking.
Key Facts
- Guinea-Bissau's GDP was $1.4 billion in 2020.
- The service sector accounts for the largest share of Guinea-Bissau's GDP.
- Guinea-Bissau's GDP per capita was $720 in 2020.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Guinea-Bissau measures the total value of all goods and services produced within the country during a given time period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a widely-used indicator of a country's economic performance and development, providing insights into the size and structure of its economy.
Q: How is this data collected or calculated?
A: GDP for Guinea-Bissau is calculated by the World Bank using data collected from national statistical agencies and other official sources.
Q: How is this trend used in economic policy?
A: Trends in Guinea-Bissau's GDP are closely monitored by the government, international financial institutions, and foreign investors to gauge the country's economic performance and guide policymaking.
Q: Are there update delays or limitations?
A: There may be some delay in the availability of GDP data for Guinea-Bissau, as it relies on the collection and reporting of information by national statistical agencies.
Related Trends
Consolidated Foreign Claims of BIS-Reporting Banks to GDP for Guinea-Bissau
DDOI12GWA156NWDB
Value of Exports to Guinea-Bissau from Florida
FLGNBA052SCEN
Bank's Return on Equity for Guinea-Bissau
DDEI06GWA156NWDB
Number of Identified Exporters to Guinea-Bissau from Nevada
NVGNBA475SCEN
Number of Identified Exporters to Guinea-Bissau from Louisiana
LAGNBA475SCEN
Population, Total for Guinea-Bissau
POPTOTGWA647NWDB
Citation
U.S. Federal Reserve, Gross Domestic Product for Guinea-Bissau (MKTGDPGWA646NWDB), retrieved from FRED.