Gross Domestic Product in U.S. Dollars for Barbados
BRBNGDPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,259,178,427.70
Year-over-Year Change
35.77%
Date Range
1/1/2011 - 1/1/2024
Summary
The Gross Domestic Product (GDP) in U.S. Dollars for Barbados measures the total economic output of the country. It is a key indicator used by economists and policymakers to assess the health and growth of the Barbadian 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 GDP in U.S. Dollars for Barbados represents the market value of all final goods and services produced within the country's borders in a given time period, typically a year. This metric is widely used to track economic performance and make comparisons across countries.
Methodology
The data is collected and calculated by the Barbados Statistical Service based on surveys and national accounts.
Historical Context
Policymakers and analysts use this GDP data to inform economic and fiscal policy decisions.
Key Facts
- Barbados is a small island nation in the Caribbean.
- GDP in U.S. Dollars for Barbados was $5.13 billion in 2021.
- The Barbadian economy is heavily dependent on tourism.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) in U.S. Dollars for Barbados measures the total value of all goods and services produced within the country's borders.
Q: Why is this trend relevant for users or analysts?
A: GDP is a widely used metric for assessing the overall health and growth of an economy, making it relevant for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Barbados Statistical Service based on surveys and national accounts.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this GDP data to inform economic and fiscal policy decisions, such as adjusting government spending, interest rates, and trade policies.
Q: Are there update delays or limitations?
A: There may be delays in the release of the latest GDP data, and the accuracy of the data can be affected by factors like the size of the informal economy.
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Citation
U.S. Federal Reserve, Gross Domestic Product in U.S. Dollars for Barbados (BRBNGDPD), retrieved from FRED.