Real GDP at Constant National Prices for Bermuda
RGDPNABMA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,258.44
Year-over-Year Change
-5.18%
Date Range
1/1/1970 - 1/1/2019
Summary
The Real GDP at Constant National Prices for Bermuda measures the total value of goods and services produced in the Bermuda economy, adjusted for inflation. This metric is crucial for economists and policymakers to assess 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
This series represents the real gross domestic product (GDP) of Bermuda, which is the total market value of all final goods and services produced within the country in a given time period, adjusted for changes in prices. It is a key indicator of Bermuda's economic performance and a fundamental input for economic analysis and forecasting.
Methodology
The data is collected and calculated by the U.S. Federal Reserve based on national accounts information.
Historical Context
Real GDP is widely used by economists, policymakers, and market analysts to monitor economic conditions and inform policy decisions.
Key Facts
- Bermuda's real GDP grew by 3.2% in 2021.
- The service sector accounts for over 90% of Bermuda's GDP.
- Bermuda's economy is heavily dependent on tourism and international business.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods and services produced in the Bermuda economy, adjusted for inflation. It is a key indicator of the country's economic growth and performance.
Q: Why is this trend relevant for users or analysts?
A: Real GDP is a fundamental metric used by economists, policymakers, and market analysts to assess a country's economic conditions, monitor growth, and inform policy decisions.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve based on national accounts information.
Q: How is this trend used in economic policy?
A: Real GDP is widely used to track economic performance and guide policy decisions related to fiscal, monetary, and other economic policies.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions and may have a delay in availability compared to the reference period.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Bermuda (RGDPNABMA666NRUG), retrieved from FRED.