Real Statistical Discrepancy for India
Millions of Domestic Currency, Annual
NSDGDPRXDCINA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1,916,080.20
Year-over-Year Change
-2035.00%
Date Range
1/1/2005 - 1/1/2024
Summary
This economic trend measures gross domestic product (GDP) in millions of domestic currency on an annual basis. It is a key indicator of a country's overall economic performance and is widely used by policymakers and analysts.
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 total value of all goods and services produced within a country's borders over a specific time period. The annual GDP figure provides a comprehensive snapshot of a nation's economic activity and is a fundamental metric for assessing economic growth, productivity, and living standards.
Methodology
The data is collected and calculated by national statistical agencies based on surveys, administrative records, and economic models.
Historical Context
GDP data is closely monitored by central banks, governments, and international organizations to inform economic and fiscal policies.
Key Facts
- GDP is the broadest measure of a country's economic activity.
- GDP growth is a key driver of employment, inflation, and living standards.
- Comparing GDP across countries requires adjusting for differences in exchange rates and purchasing power.
FAQs
Q: What does this economic trend measure?
A: This trend measures gross domestic product (GDP) in millions of domestic currency on an annual basis. GDP is the total value of all goods and services produced within a country's borders over a one-year period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a fundamental indicator of a country's economic performance and is closely monitored by policymakers, investors, and analysts to assess growth, productivity, and living standards.
Q: How is this data collected or calculated?
A: The data is collected and calculated by national statistical agencies based on surveys, administrative records, and economic models.
Q: How is this trend used in economic policy?
A: GDP data is used by central banks, governments, and international organizations to inform monetary, fiscal, and economic policies aimed at promoting growth, stability, and prosperity.
Q: Are there update delays or limitations?
A: There may be lags in the release of annual GDP data, as it requires comprehensive data collection and analysis. Additionally, GDP figures can be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Millions of Domestic Currency, Annual (NSDGDPRXDCINA), retrieved from FRED.