Expenditure-side Real GDP at Current Purchasing Power Parities for Grenada
CGDPESGDA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,798.99
Year-over-Year Change
53.55%
Date Range
1/1/1970 - 1/1/2019
Summary
This economic trend measures Grenada's real GDP based on purchasing power parity, providing insights into the country's economic output and growth.
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
Expenditure-side real GDP at current purchasing power parities (PPPs) for Grenada is a key indicator of the country's economic performance. It represents the total value of goods and services produced within Grenada, adjusted for differences in price levels between Grenada and a reference country or region.
Methodology
The data is calculated by the World Bank using expenditure-side national accounts and PPP conversion factors.
Historical Context
This metric is widely used by economists and policymakers to analyze Grenada's economic development and compare its living standards to other countries.
Key Facts
- Grenada's real GDP based on PPP was $1.84 billion in 2021.
- Grenada's real GDP per capita based on PPP was $16,302 in 2021.
- Grenada's real GDP grew by 5.7% in 2021 after contracting in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures Grenada's real GDP based on purchasing power parity, which adjusts for differences in price levels between Grenada and a reference country or region.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for analyzing Grenada's economic performance and living standards relative to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using expenditure-side national accounts and purchasing power parity conversion factors.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess Grenada's economic development and compare its living standards to other countries, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated annually by the World Bank, with some potential delays in data availability.
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Citation
U.S. Federal Reserve, Expenditure-side Real GDP at Current Purchasing Power Parities for Grenada (CGDPESGDA666NRUG), retrieved from FRED.