Trade Deficit in the United Kingdom
Percent of Nominal GDP
TDFUKA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-1.91
Year-over-Year Change
-29.52%
Date Range
1/1/1816 - 1/1/2016
Summary
The 'Percent of Nominal GDP' metric measures the ratio of total defense expenditures to the U.S. nominal gross domestic product. This key economic indicator provides insight into the government's fiscal priorities and the relative size of the defense sector.
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 'Percent of Nominal GDP' series tracks the percentage of total U.S. economic output that is allocated to defense spending. It is a widely-used gauge of the federal government's commitment to national security and military capabilities relative to the overall economy.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using official government spending and GDP figures.
Historical Context
Policymakers and analysts monitor this trend to assess the balance between military and non-military public expenditures.
Key Facts
- Defense spending averaged 3.9% of GDP from 2010-2020.
- U.S. defense expenditures peaked at 8.7% of GDP during World War II.
- The 'Percent of Nominal GDP' reached a post-Cold War low of 3.1% in 2001.
FAQs
Q: What does this economic trend measure?
A: The 'Percent of Nominal GDP' metric tracks the ratio of total U.S. defense expenditures to the nation's gross domestic product, providing a measure of the relative size of military spending in the economy.
Q: Why is this trend relevant for users or analysts?
A: This indicator is closely watched by policymakers, economists, and defense analysts to assess the government's fiscal priorities and the allocation of national resources between military and non-military purposes.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using official government spending figures and GDP data.
Q: How is this trend used in economic policy?
A: Analysts and policymakers use the 'Percent of Nominal GDP' metric to evaluate the tradeoffs between military and non-military public expenditures and to inform budgetary and fiscal policy decisions.
Q: Are there update delays or limitations?
A: The data is published quarterly with a lag of several months, and may be subject to revisions as more complete information becomes available.
Related Trends
Citation
U.S. Federal Reserve, Percent of Nominal GDP (TDFUKA), retrieved from FRED.