Expenditure-side Real GDP at Chained Purchasing Power Parities for Cape Verde
RGDPESCVA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,953.55
Year-over-Year Change
48.03%
Date Range
1/1/1960 - 1/1/2019
Summary
The Expenditure-side Real GDP at Chained Purchasing Power Parities for Cape Verde measures the total value of goods and services produced in the country, adjusted for price changes and purchasing power. This metric is crucial for economists and policymakers to assess the overall health and growth of the Cape Verdean 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
This economic indicator represents the real, inflation-adjusted GDP of Cape Verde from the expenditure side, meaning it accounts for consumption, investment, government spending, and net exports. It is calculated using purchasing power parity (PPP) exchange rates to better reflect the true purchasing power of the domestic currency.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using established national accounting principles.
Historical Context
This GDP metric is widely used by economists, investors, and policymakers to track the performance of the Cape Verdean economy and inform economic and fiscal policy decisions.
Key Facts
- Cape Verde's GDP was $1.8 billion in 2021.
- Real GDP grew by 7% in 2021 after contracting 14.8% in 2020.
- Services account for over 70% of Cape Verde's GDP.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total value of goods and services produced in Cape Verde, adjusted for price changes and purchasing power differences.
Q: Why is this trend relevant for users or analysts?
A: This GDP metric is crucial for assessing the overall health and growth of the Cape Verdean economy, which informs economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using established national accounting principles.
Q: How is this trend used in economic policy?
A: This GDP metric is widely used by economists, investors, and policymakers to track the performance of the Cape Verdean economy and inform economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published regularly by the U.S. Federal Reserve, but there may be some delays in reporting due to the time required for data collection and processing.
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Citation
U.S. Federal Reserve, Expenditure-side Real GDP at Chained Purchasing Power Parities for Cape Verde (RGDPESCVA666NRUG), retrieved from FRED.