Real GDP at Constant National Prices for Ecuador
RGDPNAECA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
194,146.83
Year-over-Year Change
40.98%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures the real gross domestic product (GDP) of Ecuador at constant national prices. It is a key indicator of the overall health and growth of Ecuador's 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
Real GDP at constant national prices is a widely used metric for evaluating a country's economic performance over time. It accounts for the effects of inflation, providing a more accurate representation of actual economic growth compared to nominal GDP.
Methodology
The data is calculated by the World Bank using inflation-adjusted GDP figures reported by the Ecuadorian government.
Historical Context
This metric is closely tracked by economists, policymakers, and investors to assess Ecuador's macroeconomic conditions and growth trajectory.
Key Facts
- Ecuador's real GDP grew by 2.5% in 2021.
- The service sector accounts for over 60% of Ecuador's GDP.
- Real GDP per capita in Ecuador was $5,800 in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of Ecuador, which is the total value of goods and services produced in the country adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Real GDP is a key indicator of a country's economic health and growth. It provides a more accurate picture of economic performance than nominal GDP by accounting for the effects of inflation.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using inflation-adjusted GDP figures reported by the Ecuadorian government.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and investors closely monitor Ecuador's real GDP growth to assess the country's macroeconomic conditions and make informed decisions about economic policies, investments, and market strategies.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and there may be revisions to historical figures as more complete information becomes available.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Ecuador (RGDPNAECA666NRUG), retrieved from FRED.