Gross Domestic Product for Guinea
MKTGDPGNA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,334,307,878.74
Year-over-Year Change
231.69%
Date Range
1/1/1970 - 1/1/2024
Summary
The Gross Domestic Product (GDP) for Guinea measures the total value of all goods and services produced within the country. It is a key indicator of the overall health and size of Guinea'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
GDP is the broadest measure of a country's economic activity and is widely used by economists, policymakers, and analysts to assess economic performance and make informed decisions. It represents the market value of all final goods and services produced within a country's borders over a specific period.
Methodology
The data is collected and calculated by the World Bank using standard national accounting frameworks.
Historical Context
GDP figures are closely monitored by institutions and investors to gauge Guinea's economic conditions and outlook.
Key Facts
- Guinea's GDP was $13.7 billion in 2021.
- GDP per capita in Guinea was $1,026 in 2021.
- Guinea's GDP grew by 5.1% in 2021 after contracting by 1.2% in 2020.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Guinea measures the total monetary value of all goods and services produced within the country's borders over a specific period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial indicator of a country's overall economic health and performance, and is widely used by economists, policymakers, and investors to assess economic conditions and make informed decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using standard national accounting frameworks.
Q: How is this trend used in economic policy?
A: GDP figures are closely monitored by institutions and investors to gauge Guinea's economic conditions and outlook, which informs policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The GDP data for Guinea is subject to potential delays and revisions as it is collected and reported by international organizations.
Related Trends
Use of Financial Services: Number of Loan Accounts at Other Depository Corporations for Guinea
GINFCNODNUM
Use of Financial Services: Number of Loan Accounts for Households at Credit Unions and Financial Cooperatives for Guinea
GINFCNODUHNUM
Loans from Non-Resident Banks, Amounts Outstanding, to GDP for Guinea
DDOI09GNA156NWDB
Gross National Income for Guinea
MKTGNIGNA646NWDB
Geographical Outreach: Number of Branches in 3 Largest Cities, Excluding Headquarters, for Credit Unions and Financial Cooperatives for Guinea
GINFCBODULNUM
Number of Identified Exporters to Guinea from Maryland
MDGINA475SCEN
Citation
U.S. Federal Reserve, Gross Domestic Product for Guinea (MKTGDPGNA646NWDB), retrieved from FRED.