National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Czech Republic
NAEXKP01CZQ189S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,317,540,000,000.00
Year-over-Year Change
4.38%
Date Range
1/1/1995 - 7/1/2023
Summary
This economic indicator measures the total real (inflation-adjusted) gross domestic product (GDP) for the Czech Republic. GDP is a key metric for evaluating the overall health and growth of a national economy.
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
Gross domestic product (GDP) is the total market value of all final goods and services produced within a country during a given period. The expenditure-based GDP measure tracked in this series captures total real economic output from the demand-side perspective, including consumption, investment, government spending, and net exports.
Methodology
The data is calculated by the Czech Statistical Office based on national accounts and expenditure data.
Historical Context
GDP is a widely-used benchmark for policymakers, analysts, and investors to assess economic performance and guide macroeconomic decisions.
Key Facts
- Czech GDP totaled $253 billion in 2021.
- The Czech Republic's economy grew by 3.3% in 2021.
- Private consumption accounts for over 50% of Czech GDP.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total real (inflation-adjusted) gross domestic product (GDP) for the Czech Republic, which represents the overall size and output of the Czech economy.
Q: Why is this trend relevant for users or analysts?
A: GDP is a widely-used metric that provides important insights into the health and growth of a national economy, making it highly relevant for policymakers, economists, investors, and other stakeholders.
Q: How is this data collected or calculated?
A: The data is calculated by the Czech Statistical Office based on national accounts and expenditure data.
Q: How is this trend used in economic policy?
A: GDP is a key indicator used by policymakers, central banks, and international organizations to assess economic performance, guide macroeconomic decisions, and evaluate the effectiveness of policy interventions.
Q: Are there update delays or limitations?
A: There may be delays of several months between the end of a reference period and the publication of the GDP data, and the data may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Czech Republic (NAEXKP01CZQ189S), retrieved from FRED.