Gross Domestic Product for Slovakia
MKTGDPSKA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
141,775,733,420.11
Year-over-Year Change
49.67%
Date Range
1/1/1990 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for Slovakia measures the total value of goods and services produced in the country. It is a key indicator of economic growth and activity.
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 is the most comprehensive measure of a country's economic output. It includes consumption, investment, government spending, and net exports. Monitoring GDP trends helps policymakers and analysts assess the overall health and trajectory of the Slovak economy.
Methodology
GDP data for Slovakia is collected and calculated by the World Bank using national accounts statistics.
Historical Context
GDP is widely used by economists, investors, and policymakers to inform economic policy decisions and understand market conditions.
Key Facts
- Slovakia's GDP was $110 billion in 2021.
- GDP per capita in Slovakia was $20,258 in 2021.
- The Slovak economy grew by 3% in 2021 after contracting in 2020.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Slovakia measures the total monetary value of all finished goods and services produced within the country's borders over a specific time period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a fundamental indicator of a country's economic health and performance. Monitoring GDP trends helps policymakers, investors, and analysts assess the overall strength of the Slovak economy and make informed decisions.
Q: How is this data collected or calculated?
A: The GDP data for Slovakia is collected and calculated by the World Bank using national accounts statistics provided by the Slovak government.
Q: How is this trend used in economic policy?
A: GDP is widely used by policymakers, central banks, and international organizations to inform economic policies, assess the effectiveness of interventions, and understand the overall trajectory of the Slovak economy.
Q: Are there update delays or limitations?
A: The GDP data for Slovakia is typically published on a quarterly basis with a lag of several months. There may also be revisions to past data as more complete information becomes available.
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Citation
U.S. Federal Reserve, Gross Domestic Product for Slovakia (MKTGDPSKA646NWDB), retrieved from FRED.