Gross Domestic Product for Romania
MKTGDPROA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
382,767,571,329.16
Year-over-Year Change
113.70%
Date Range
1/1/1987 - 1/1/2024
Summary
Gross Domestic Product (GDP) for Romania measures the total value of goods and services produced within the Romanian economy. It is a key indicator of economic health 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 the broadest measure of a country's economic activity, representing the market value of all final goods and services produced. It is used by economists and policymakers to assess Romania's economic performance and make informed decisions.
Methodology
GDP data for Romania is collected and calculated by the World Bank using national accounts statistics.
Historical Context
Romania's GDP growth is closely monitored by investors, businesses, and government agencies to understand the country's economic trends and policies.
Key Facts
- Romania's GDP was $251 billion in 2021.
- GDP growth in Romania was 5.9% in 2021.
- Services account for over 60% of Romania's GDP.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) for Romania measures the total value of goods and services produced within the Romanian economy.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial indicator of a country's economic performance and growth, used by economists, policymakers, and investors to assess the health and direction of the Romanian economy.
Q: How is this data collected or calculated?
A: The GDP data for Romania is collected and calculated by the World Bank using national accounts statistics.
Q: How is this trend used in economic policy?
A: Romania's GDP growth is closely monitored by the government, businesses, and investors to understand the country's economic trends and inform policy decisions.
Q: Are there update delays or limitations?
A: The GDP data for Romania is typically published on a quarterly or annual basis, with some potential for delays in data reporting.
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Citation
U.S. Federal Reserve, Gross Domestic Product for Romania (MKTGDPROA646NWDB), retrieved from FRED.