Gross Domestic Product for Barbados
MKTGDPBBA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,165,000,000.00
Year-over-Year Change
35.93%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for Barbados measures the total monetary value of all goods and services produced within the country's borders. It is a key economic indicator used to assess a country's economic performance 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
GDP is considered the broadest measure of a country's overall economic activity. It is used by economists, policymakers, and analysts to gauge the health and trajectory of a national economy.
Methodology
The data is collected and calculated by the World Bank using national accounts and statistical systems.
Historical Context
GDP data is widely referenced to inform economic policy decisions and market analysis.
Key Facts
- Barbados is a small island country in the Caribbean.
- GDP is measured in current U.S. dollars.
- GDP growth is a key target for Barbados' economic development.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Barbados measures the total monetary value of all goods and services produced within the country's borders over a given time period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a fundamental indicator of a country's economic performance and used by economists, policymakers, and investors to assess growth, development, and market conditions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and statistical systems.
Q: How is this trend used in economic policy?
A: GDP data is widely referenced to inform economic policy decisions, as it provides insights into a country's overall economic activity and growth trajectory.
Q: Are there update delays or limitations?
A: The GDP data for Barbados may have update lags or limitations due to the challenges of data collection in a small island economy.
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Citation
U.S. Federal Reserve, Gross Domestic Product for Barbados (MKTGDPBBA646NWDB), retrieved from FRED.