Real GDP at Constant National Prices for Philippines
RGDPNAPHA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
929,959.50
Year-over-Year Change
93.91%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Real GDP at Constant National Prices for Philippines' measures the total inflation-adjusted economic output of the Philippines. 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
This series represents the real (inflation-adjusted) gross domestic product of the Philippines, calculated using constant national prices. It is a widely-used metric for assessing the overall health and expansion of the Philippine economy over time.
Methodology
The data is calculated by the World Bank using national accounts information.
Historical Context
Policymakers and economists closely monitor this trend to gauge the Philippine economy's performance and inform economic and fiscal policy decisions.
Key Facts
- The Philippines has experienced steady real GDP growth over the past decade.
- Agriculture, services, and industry are the three main sectors of the Philippine economy.
- Robust domestic consumption is a key driver of economic expansion in the Philippines.
FAQs
Q: What does this economic trend measure?
A: The 'Real GDP at Constant National Prices for Philippines' measures the total inflation-adjusted economic output of the Philippines. It is a key indicator of the country's economic growth and development.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for understanding the overall health and expansion of the Philippine economy. It informs policymakers, investors, and economists about the country's economic performance and prospects.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers and economists closely monitor this trend to gauge the Philippine economy's performance and inform economic and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, 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 Philippines (RGDPNAPHA666NRUG), retrieved from FRED.