Nominal Gross Domestic Product for Saudi Arabia
Annual
NGDPXDCSAA • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,649,267.00
Year-over-Year Change
64.88%
Date Range
1/1/2005 - 1/1/2024
Summary
The Annual Gross Domestic Product (GDP) series measures the total value of goods and services produced in the United States over a 12-month period. It is a key indicator of economic growth and a crucial metric for 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
The Annual GDP series provides a comprehensive picture of the size and health of the U.S. economy. It is widely used by economists, analysts, and policymakers to assess economic performance, guide policy decisions, and make informed forecasts.
Methodology
The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on a variety of economic indicators.
Historical Context
Annual GDP is a vital statistic for understanding the overall direction of the economy and informing fiscal and monetary policy.
Key Facts
- The U.S. GDP was $23.99 trillion in 2021.
- GDP grew by 6.9% in 2021 following the COVID-19 recession.
- Annual GDP is released quarterly by the Bureau of Economic Analysis.
FAQs
Q: What does this economic trend measure?
A: The Annual Gross Domestic Product (GDP) series measures the total value of all goods and services produced in the United States over a 12-month period.
Q: Why is this trend relevant for users or analysts?
A: Annual GDP is a crucial indicator of the overall health and growth of the U.S. economy, making it highly relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Bureau of Economic Analysis (BEA) based on a variety of economic indicators.
Q: How is this trend used in economic policy?
A: Annual GDP is used by policymakers, such as the Federal Reserve, to guide fiscal and monetary policy decisions aimed at promoting economic stability and growth.
Q: Are there update delays or limitations?
A: The Annual GDP data is released quarterly by the BEA, with a typical delay of a few months.
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Citation
U.S. Federal Reserve, Gross Domestic Product (NGDPXDCSAA), retrieved from FRED.