Output-side Real GDP at chained Purchasing Power Parities for Iceland
RGDPOSISA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,972.63
Year-over-Year Change
30.06%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures the output-side real GDP at chained purchasing power parities for Iceland. It provides insights into the overall size and growth of the Icelandic 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
The output-side real GDP at chained purchasing power parities for Iceland represents the total value of goods and services produced within the country, adjusted for inflation and differences in purchasing power. This metric is widely used by economists and policymakers to analyze economic performance and growth.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using national accounts and purchasing power parity data.
Historical Context
This trend is a key indicator for monitoring the Icelandic economy and informing policy decisions.
Key Facts
- Iceland's output-side real GDP reached $25.7 billion in 2021.
- The trend has shown a steady recovery since the 2008 financial crisis.
- Iceland's economy is heavily dependent on tourism and fisheries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods and services produced within Iceland, adjusted for inflation and differences in purchasing power.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the overall size and growth of the Icelandic economy, making it a key indicator for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using national accounts and purchasing power parity data.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to monitor the performance of the Icelandic economy and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a delay of several months, and may be subject to revisions as more information becomes available.
Related Trends
Number of Persons Engaged for the former Yugoslav Republic of Macedonia
EMPENGMKA148NRUG
Output-side Real GDP at chained Purchasing Power Parities for Belarus
RGDPOSBYA666NRUG
Population for Saint Lucia
POPTTLLCA148NRUG
Expenditure-side Real GDP at Chained Purchasing Power Parities for Gabon
RGDPESGAA666NRUG
Average Annual Hours Worked by Persons Engaged for Norway
AVHWPENOA065NRUG
Output-side Real GDP at chained Purchasing Power Parities for Chile
RGDPOSCLA666NRUG
Citation
U.S. Federal Reserve, Output-side Real GDP at chained Purchasing Power Parities for Iceland (RGDPOSISA666NRUG), retrieved from FRED.