Real GDP at Constant National Prices for Lao People's Democratic Republic
RGDPNALAA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
56,177.80
Year-over-Year Change
131.68%
Date Range
1/1/1970 - 1/1/2019
Summary
This economic trend measures the real gross domestic product (GDP) of Lao People's Democratic Republic, adjusted for inflation to enable cross-year comparisons. It is a key indicator of a 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
Real GDP at constant national prices is a widely used macroeconomic indicator that reflects the total value of all goods and services produced within a country, adjusted for price changes over time. It provides insights into a nation's economic performance and is a crucial metric for policymakers and analysts.
Methodology
The data is collected and calculated by the World Bank using established national accounts methodology.
Historical Context
This trend is used by economists, policymakers, and investors to assess Lao PDR's economic conditions and growth trajectory.
Key Facts
- Lao PDR's real GDP has grown by an average of 7% annually over the past decade.
- Agriculture accounts for approximately 20% of Lao PDR's real GDP.
- The World Bank classifies Lao PDR as a lower-middle-income country.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of Lao People's Democratic Republic, adjusted for inflation to enable cross-year comparisons.
Q: Why is this trend relevant for users or analysts?
A: Real GDP is a crucial indicator of a country's economic growth and development, providing insights into Lao PDR's economic performance and conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using established national accounts methodology.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and investors to assess Lao PDR's economic conditions and growth trajectory.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and methodological limitations of national accounts data.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Lao People's Democratic Republic (RGDPNALAA666NRUG), retrieved from FRED.