Real GDP at Constant National Prices for Dominican Republic
RGDPNADOA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
195,627.88
Year-over-Year Change
80.10%
Date Range
1/1/1951 - 1/1/2019
Summary
The 'Real GDP at Constant National Prices for Dominican Republic' is a key indicator that measures the total value of goods and services produced in the Dominican Republic, adjusted for inflation. It is a vital metric for evaluating the country's 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
This economic trend represents the real gross domestic product (GDP) of the Dominican Republic, calculated using constant national prices to account for changes in the purchasing power of the local currency. It is a widely-used metric by economists, policymakers, and investors to assess the overall health and trajectory of the Dominican economy.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on official statistics from the Dominican government.
Historical Context
This real GDP trend is closely monitored by international organizations, multinational corporations, and domestic policymakers to inform investment decisions and economic policy in the Dominican Republic.
Key Facts
- The Dominican Republic is the largest economy in the Caribbean region.
- Real GDP growth in the Dominican Republic averaged over 5% annually from 2010-2019.
- Tourism and mining are major drivers of the Dominican economy.
FAQs
Q: What does this economic trend measure?
A: The 'Real GDP at Constant National Prices for Dominican Republic' measures the total value of goods and services produced in the country, adjusted for inflation, to track the real growth of the Dominican economy.
Q: Why is this trend relevant for users or analysts?
A: This real GDP metric is a crucial indicator of the Dominican Republic's economic performance and is closely monitored by investors, policymakers, and international organizations to inform decisions and policies.
Q: How is this data collected or calculated?
A: The U.S. Federal Reserve collects and calculates this real GDP data based on official statistics provided by the Dominican government.
Q: How is this trend used in economic policy?
A: Policymakers in the Dominican Republic and international institutions use this real GDP trend to evaluate the country's economic growth, guide fiscal and monetary policies, and inform investment decisions.
Q: Are there update delays or limitations?
A: There may be lags of several months in the availability of the most recent real GDP data for the Dominican Republic due to the time required for data collection and reporting by the government.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Dominican Republic (RGDPNADOA666NRUG), retrieved from FRED.