Real GDP at Constant National Prices for Grenada
RGDPNAGDA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,668.76
Year-over-Year Change
25.73%
Date Range
1/1/1970 - 1/1/2019
Summary
The Real GDP at Constant National Prices for Grenada measures the inflation-adjusted total economic output of Grenada, providing a key indicator of the country's economic performance and growth.
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 total value of all goods and services produced within Grenada, adjusted for changes in prices over time. It is a widely used metric for assessing the overall health and trajectory of the Grenadian economy.
Methodology
The data is calculated by the World Bank using national accounts and price data.
Historical Context
Policymakers and analysts use this metric to guide economic and fiscal decision-making.
Key Facts
- Grenada's real GDP grew by 5.7% in 2022.
- The service sector accounts for over 70% of Grenada's GDP.
- Tourism is a major driver of Grenada's economy.
FAQs
Q: What does this economic trend measure?
A: The Real GDP at Constant National Prices for Grenada measures the total value of all goods and services produced within the country, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of Grenada's overall economic performance and growth, providing important insights for policymakers, investors, and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and price data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to guide economic and fiscal decision-making, as it reflects the overall health and trajectory of the Grenadian economy.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Grenada (RGDPNAGDA666NRUG), retrieved from FRED.