Gross Domestic Product for Kiribati
MKTGDPKIA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
307,862,546.79
Year-over-Year Change
48.72%
Date Range
1/1/1970 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for Kiribati measures the total economic output of the country. This metric is crucial for economists and policymakers to assess Kiribati's economic performance and development.
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 within Kiribati's geographical borders over a specific time period. It is a widely used indicator of a country's economic health and living standards.
Methodology
The data is collected and calculated by the World Bank based on national accounts statistics.
Historical Context
GDP is a key metric for evaluating fiscal and monetary policies in Kiribati.
Key Facts
- Kiribati is a Pacific island nation.
- GDP in Kiribati was $206 million in 2020.
- The economy is largely dependent on fishing and tourism.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Kiribati measures the total value of all goods and services produced within the country's borders over a given time period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a key indicator of a country's economic performance and standard of living, making it crucial for economists, policymakers, and investors to assess Kiribati's economic development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts statistics.
Q: How is this trend used in economic policy?
A: GDP is a fundamental metric used by policymakers in Kiribati to evaluate the effectiveness of fiscal and monetary policies and guide economic decision-making.
Q: Are there update delays or limitations?
A: The GDP data for Kiribati may be subject to update delays due to the country's remote location and limited statistical capacity.
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Citation
U.S. Federal Reserve, Gross Domestic Product for Kiribati (MKTGDPKIA646NWDB), retrieved from FRED.