Real GDP at Constant National Prices for Benin
RGDPNABJA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39,131.95
Year-over-Year Change
140.01%
Date Range
1/1/1959 - 1/1/2019
Summary
This trend measures the real gross domestic product (GDP) at constant national prices for Benin, a key indicator of the country's economic growth and development.
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
Real GDP at constant national prices is an important macroeconomic indicator that reflects the total value of all goods and services produced within Benin, adjusted for inflation. It is a widely used metric for evaluating the overall health and performance of the Beninese economy.
Methodology
The data is collected and calculated by the World Bank using national accounts information.
Historical Context
Policymakers and economists closely monitor this trend to inform economic and fiscal policies.
Key Facts
- Benin's real GDP has grown by an average of 5% annually over the past decade.
- The service sector accounts for over 50% of Benin's GDP.
- Agriculture remains a significant contributor to Benin's economy.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of Benin, which reflects the total value of all goods and services produced within the country, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Real GDP is a key indicator of Benin's economic growth and development, and is closely monitored by policymakers and economists to inform economic and fiscal policies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the overall health and performance of the Beninese economy, and to inform decisions on fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is typically updated annually by the World Bank, with some potential delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Benin (RGDPNABJA666NRUG), retrieved from FRED.