Real GDP at Constant National Prices for Ghana
RGDPNAGHA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
167,411.91
Year-over-Year Change
119.81%
Date Range
1/1/1955 - 1/1/2019
Summary
The Real GDP at Constant National Prices for Ghana measures the total value of goods and services produced in Ghana, adjusted for inflation. It is a key indicator of the country's economic growth and development.
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 Ghana's real gross domestic product (GDP), which is the broadest measure of the country's economic activity. It is adjusted for price changes to provide a more accurate assessment of actual production volumes over time, rather than just nominal monetary values.
Methodology
The data is calculated by the World Bank using Ghana's national accounts and price indices.
Historical Context
Policymakers and analysts use this metric to gauge the overall health and trajectory of Ghana's economy.
Key Facts
- Ghana's real GDP grew by 5.4% in 2021.
- Agriculture accounts for about 20% of Ghana's real GDP.
- The services sector is the largest contributor to Ghana's real GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods and services produced in Ghana, adjusted for inflation. It provides a more accurate picture of the country's economic growth over time.
Q: Why is this trend relevant for users or analysts?
A: Real GDP is a crucial indicator of a country's economic performance and is widely used by policymakers, investors, and analysts to assess the overall health and trajectory of Ghana's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using Ghana's national accounts and price indices.
Q: How is this trend used in economic policy?
A: Policymakers and institutions use this metric to evaluate the effectiveness of economic policies, make informed decisions, and monitor Ghana's progress towards its development goals.
Q: Are there update delays or limitations?
A: There may be some delays in the release of the data, as it relies on the compilation of national accounts and price information by the Ghanaian government and the World Bank.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Ghana (RGDPNAGHA666NRUG), retrieved from FRED.