Gross Domestic Product Per Capita for Slovakia
PCAGDPSKA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,147.90
Year-over-Year Change
49.27%
Date Range
1/1/1990 - 1/1/2024
Summary
The Gross Domestic Product (GDP) per Capita for Slovakia measures the total economic output of the country divided by its population. This key economic indicator provides insights into a country's standard of living and overall productivity.
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 metric that allows for comparisons of economic performance between countries. It represents the average income per person and is an important factor in assessing a nation's economic development and quality of life.
Methodology
The data is calculated by the World Bank by dividing Slovakia's GDP by its total population.
Historical Context
GDP per capita is closely monitored by policymakers, analysts, and investors to gauge a country's economic health and growth potential.
Key Facts
- Slovakia's GDP per capita was $23,126 in 2021.
- GDP per capita has grown by over 50% in Slovakia since 2000.
- Slovakia's GDP per capita is lower than the European Union average.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) per Capita for Slovakia measures the total economic output of the country divided by its population.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a key indicator of a country's standard of living and economic development, making it highly relevant for policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank by dividing Slovakia's GDP by its total population.
Q: How is this trend used in economic policy?
A: GDP per capita is closely monitored by policymakers to assess a country's economic health and growth potential, informing policy decisions.
Q: Are there update delays or limitations?
A: The GDP per capita data for Slovakia is updated annually by the World Bank, with a slight delay in availability.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Slovakia (PCAGDPSKA646NWDB), retrieved from FRED.