Gross Domestic Product for Tonga
MKTGDPTOA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
508,735,107.03
Year-over-Year Change
22.84%
Date Range
1/1/1975 - 1/1/2023
Summary
The Gross Domestic Product (GDP) for Tonga measures the total value of goods and services produced in the Tongan economy. It is a key indicator of economic performance and growth.
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 a country's borders over a specific time period. Economists and policymakers use GDP to assess the overall health and productivity of a national economy.
Methodology
GDP for Tonga is calculated by the World Bank using national accounts data.
Historical Context
Tonga's GDP trends are relevant for understanding the country's economic development and informing policy decisions.
Key Facts
- Tonga's GDP was $536 million in 2021.
- GDP per capita in Tonga was $4,987 in 2021.
- The Tongan economy grew by 0.5% in 2021.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Tonga measures the total value of goods and services produced in the Tongan economy 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 growth, making it relevant for economists, policymakers, and analysts studying the Tongan economy.
Q: How is this data collected or calculated?
A: GDP for Tonga is calculated by the World Bank using national accounts data.
Q: How is this trend used in economic policy?
A: Tonga's GDP trends are used by policymakers to assess the overall health of the Tongan economy and inform policy decisions related to economic development, fiscal and monetary policy, and international trade.
Q: Are there update delays or limitations?
A: There may be some delay in the availability of the most recent GDP data for Tonga, as it is collected and reported by the World Bank.
Related Trends
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NCTONA475SCEN
National Accounts: Real Total Domestic Demand for Tonga
TONNTDDRPCPPPT
Number of Identified Exporters to Tonga from Arkansas
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Value of Exports to Tonga from Washington
WATONA052SCEN
Number of Identified Exporters to Tonga from Florida
FLTONA475SCEN
Bank Z-Score for Tonga
DDSI01TOA645NWDB
Citation
U.S. Federal Reserve, Gross Domestic Product for Tonga (MKTGDPTOA646NWDB), retrieved from FRED.