Gross Domestic Product Per Capita for Barbados
PCAGDPBBA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,365.79
Year-over-Year Change
33.27%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) per Capita for Barbados measures the total economic output of the country divided by its population, providing a gauge of national prosperity and living standards.
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 per capita is a widely used indicator of a country's economic development and the overall standard of living. It reflects the total value of goods and services produced in Barbados, adjusted for the size of the population.
Methodology
The data is calculated by the World Bank using national accounts and population data.
Historical Context
GDP per capita is closely monitored by policymakers, investors, and international organizations to assess a country's economic performance and growth potential.
Key Facts
- Barbados is an island country in the Caribbean Sea.
- GDP per capita in Barbados was $18,206 in 2020.
- Barbados has seen steady GDP per capita growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) per Capita for Barbados measures the total economic output of the country divided by its population, providing a gauge of national prosperity and living standards.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a widely used indicator of a country's economic development and the overall standard of living, closely monitored by policymakers, investors, and international organizations to assess a country's economic performance and growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and population data.
Q: How is this trend used in economic policy?
A: GDP per capita is used by policymakers, economists, and analysts to evaluate a country's economic growth, living standards, and development, informing policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The GDP per capita data for Barbados is updated annually by the World Bank, with a typical 1-2 year delay in data availability.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Barbados (PCAGDPBBA646NWDB), retrieved from FRED.