Gross Domestic Product Per Capita for Dominican Republic
PCAGDPDOA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,875.66
Year-over-Year Change
80.84%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) per Capita for the Dominican Republic is a key economic indicator that measures the country's economic output divided by its total population. It provides insight into the standard of living and overall economic well-being of the Dominican people.
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 per capita is a widely used metric that allows for cross-country comparisons of economic development and productivity. It is an important benchmark for policymakers and economists to assess a nation's economic progress and living standards over time.
Methodology
The data is collected and calculated by the World Bank based on official national accounts statistics.
Historical Context
GDP per capita is a crucial data point used by international institutions, investors, and analysts to evaluate the Dominican Republic's macroeconomic performance and inform economic policy decisions.
Key Facts
- GDP per capita in the Dominican Republic was $8,126 in 2021.
- The country has experienced steady GDP per capita growth in recent decades.
- The Dominican Republic is classified as an upper-middle-income economy by the World Bank.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) per Capita for the Dominican Republic measures the country's total economic output divided by its total population. It is a key indicator of a nation's standard of living and overall economic well-being.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a widely used metric that allows for cross-country comparisons of economic development and productivity. It is an important benchmark for policymakers and economists to assess a nation's economic progress and living standards over time.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on official national accounts statistics.
Q: How is this trend used in economic policy?
A: GDP per capita is a crucial data point used by international institutions, investors, and analysts to evaluate the Dominican Republic's macroeconomic performance and inform economic policy decisions.
Q: Are there update delays or limitations?
A: The GDP per capita data for the Dominican Republic is published annually by the World Bank with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Dominican Republic (PCAGDPDOA646NWDB), retrieved from FRED.