Nominal Gross Domestic Product for Russia
NGDPNSAXDCRUQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58,879,423.40
Year-over-Year Change
47.68%
Date Range
1/1/1994 - 10/1/2024
Summary
Nominal Gross Domestic Product (GDP) for Russia measures the total monetary value of all goods and services produced within the Russian economy. It is a key indicator of economic growth and performance.
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
Nominal GDP represents the total market value of all final goods and services produced in Russia, without adjusting for inflation. It is a widely used metric for assessing the size and health of the Russian economy, and is closely monitored by policymakers and analysts.
Methodology
The data is collected and calculated by the Russian Federal State Statistics Service.
Historical Context
Nominal GDP is a vital statistic for evaluating Russia's economic policies and market conditions.
Key Facts
- Russia's nominal GDP was $1.7 trillion in 2021.
- Nominal GDP growth in Russia was 19.7% in 2021.
- Russia accounts for over 1.7% of global nominal GDP.
FAQs
Q: What does this economic trend measure?
A: The Nominal Gross Domestic Product for Russia measures the total monetary value of all goods and services produced within the Russian economy, without adjusting for inflation.
Q: Why is this trend relevant for users or analysts?
A: Nominal GDP is a crucial indicator of the size and performance of the Russian economy, and is closely monitored by policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Russian Federal State Statistics Service.
Q: How is this trend used in economic policy?
A: Nominal GDP is used by Russian policymakers and international institutions to evaluate the country's economic conditions, formulate policies, and make informed decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates, and may have some limitations in terms of timeliness or reliability, depending on the source and collection methods.
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Citation
U.S. Federal Reserve, Nominal Gross Domestic Product for Russia (NGDPNSAXDCRUQ), retrieved from FRED.