Output-side Real GDP at Current Purchasing Power Parities for Grenada
CGDPOSGDA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,732.57
Year-over-Year Change
71.26%
Date Range
1/1/1970 - 1/1/2019
Summary
This economic trend measures the output-side real gross domestic product (GDP) of Grenada, adjusted for purchasing power parity. It provides insight into the overall size and growth of Grenada's 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
Output-side real GDP at purchasing power parity is a key indicator of a country's economic performance. It represents the total value of all goods and services produced within Grenada, adjusted to account for differences in price levels between countries.
Methodology
The data is calculated by the World Bank using national accounts and price data.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to analyze and compare economic conditions across countries.
Key Facts
- Grenada's GDP in 2021 was $1.4 billion.
- The economy grew by 5.7% in 2021 after contracting in 2020.
- Tourism is a major driver of Grenada's economy.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total value of all goods and services produced within Grenada, adjusted for differences in price levels between countries using purchasing power parity.
Q: Why is this trend relevant for users or analysts?
A: Output-side real GDP at purchasing power parity is a key indicator of a country's economic performance and is widely used by economists, policymakers, and international organizations to analyze and compare economic conditions across countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and price data.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economists, and international organizations to assess the overall size and growth of a country's economy, which informs economic and development policies.
Q: Are there update delays or limitations?
A: The data is subject to the typical lags in national accounts reporting, with the most recent year's data typically available 12-18 months after the end of the reference period.
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Citation
U.S. Federal Reserve, Output-side Real GDP at Current Purchasing Power Parities for Grenada (CGDPOSGDA666NRUG), retrieved from FRED.