Gross Domestic Product in U.S. Dollars for Dominica
DMANGDPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
764,997,222.20
Year-over-Year Change
57.41%
Date Range
1/1/2011 - 1/1/2024
Summary
The 'Gross Domestic Product in U.S. Dollars for Dominica' trend measures the total value of all goods and services produced within Dominica, expressed in U.S. dollars. This metric is a key indicator of a country's economic performance and is widely used by economists and policymakers.
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
Gross Domestic Product (GDP) is the standard measure of the size and health of a country's economy. The GDP in U.S. dollars for Dominica provides a consistent basis for comparing Dominica's economic output to other countries and tracking its growth over time.
Methodology
The data is calculated by the World Bank using official government sources and statistical agencies.
Historical Context
GDP is a critical metric for assessing a country's economic policies, trade dynamics, and development trajectory.
Key Facts
- Dominica's GDP in 2021 was $540 million.
- GDP per capita in Dominica was $7,590 in 2021.
- The Dominican economy is heavily dependent on tourism.
FAQs
Q: What does this economic trend measure?
A: The 'Gross Domestic Product in U.S. Dollars for Dominica' measures the total value of all goods and services produced within Dominica, expressed in U.S. dollars.
Q: Why is this trend relevant for users or analysts?
A: GDP is a key indicator of a country's economic performance and is widely used by economists, policymakers, and investors to assess a country's development, trade dynamics, and economic policies.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official government sources and statistical agencies.
Q: How is this trend used in economic policy?
A: GDP is a critical metric for assessing a country's economic policies, trade dynamics, and development trajectory, and is used by policymakers, economists, and international institutions to guide economic decision-making.
Q: Are there update delays or limitations?
A: The GDP data for Dominica is typically published on an annual basis, with some potential delays in reporting from the source agencies.
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Citation
U.S. Federal Reserve, Gross Domestic Product in U.S. Dollars for Dominica (DMANGDPD), retrieved from FRED.