Real GDP at Constant National Prices for Azerbaijan
RGDPNAAZA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
143,939.81
Year-over-Year Change
41.20%
Date Range
1/1/1990 - 1/1/2019
Summary
The 'Real GDP at Constant National Prices for Azerbaijan' measures the total inflation-adjusted output of goods and services produced within Azerbaijan. It is a key indicator of the country's economic health and growth trajectory.
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
This series represents Azerbaijan's real gross domestic product (GDP) adjusted for changes in domestic prices. Real GDP is a widely-used macroeconomic metric that reflects the size and performance of a national economy over time.
Methodology
The data is collected and calculated by the World Bank based on national accounts information.
Historical Context
Policymakers and analysts use this metric to assess Azerbaijan's economic conditions and make informed decisions.
Key Facts
- Azerbaijan's real GDP has grown by over 300% since 2000.
- The service sector accounts for nearly 60% of Azerbaijan's real GDP.
- Real GDP per capita in Azerbaijan has more than tripled since the early 2000s.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total inflation-adjusted output of goods and services produced within Azerbaijan. It is a key indicator of the country's economic performance.
Q: Why is this trend relevant for users or analysts?
A: Real GDP is a widely-used macroeconomic metric that reflects the size and growth of a national economy, making it highly relevant for policymakers, investors, and economic analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Azerbaijan's economic conditions and make informed decisions about fiscal, monetary, and development policies.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and potential limitations in capturing the full scope of economic activity, as with any national accounting metric.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Azerbaijan (RGDPNAAZA666NRUG), retrieved from FRED.