Constant GDP per capita for the Dominican Republic
NYGDPPCAPKDDOM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,168.29
Year-over-Year Change
56.45%
Date Range
1/1/1960 - 1/1/2024
Summary
This economic trend measures the constant GDP per capita for the Dominican Republic, which is a key indicator of a country's economic development and living standards.
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
Constant GDP per capita represents the total economic output divided by the population, adjusted for inflation to provide a real measure of purchasing power. It is widely used by economists and policymakers to assess a country's economic progress and living conditions over time.
Methodology
The data is calculated by the World Bank using national accounts and population statistics.
Historical Context
This metric helps inform economic and social policies aimed at improving standards of living.
Key Facts
- The Dominican Republic's constant GDP per capita was $8,206 in 2021.
- GDP per capita has grown by over 75% in the Dominican Republic since 2000.
- The Dominican Republic has the largest economy in the Caribbean region.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output of the Dominican Republic divided by its population, adjusted for inflation to provide a real measure of purchasing power and living standards.
Q: Why is this trend relevant for users or analysts?
A: Constant GDP per capita is a key indicator of a country's economic development and living conditions, helping inform economic and social policies aimed at improving standards of living.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and population statistics.
Q: How is this trend used in economic policy?
A: This metric is used by economists and policymakers to assess a country's economic progress and living conditions, informing policies aimed at improving standards of living.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, with a potential delay of up to 2 years.
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Citation
U.S. Federal Reserve, Constant GDP per capita for the Dominican Republic (NYGDPPCAPKDDOM), retrieved from FRED.