Real GDP at Constant National Prices for Ethiopia
RGDPNAETA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
249,437.22
Year-over-Year Change
206.00%
Date Range
1/1/1950 - 1/1/2019
Summary
The 'Real GDP at Constant National Prices for Ethiopia' measures the total inflation-adjusted value of goods and services produced within Ethiopia's economy. It is 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
This series represents Ethiopia's real gross domestic product (GDP) adjusted for changes in domestic price levels. It is a widely-used metric for tracking the overall size and performance of the Ethiopian economy over time.
Methodology
The data is calculated by the World Bank based on national accounts statistics.
Historical Context
Policymakers and analysts closely monitor Ethiopia's real GDP to assess the health of the economy and inform economic and fiscal policies.
Key Facts
- Ethiopia's real GDP has grown by over 8% annually on average since 2000.
- Agriculture accounts for nearly a third of Ethiopia's real GDP.
- The service sector is the largest contributor to Ethiopia's economic output.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of goods and services produced within Ethiopia's economy, adjusted for inflation. It is a key indicator of the country's economic growth and development.
Q: Why is this trend relevant for users or analysts?
A: Ethiopia's real GDP is a widely-used metric for tracking the overall performance and health of the country's economy, which is crucial for policymakers, investors, and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank based on national accounts statistics provided by the Ethiopian government.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor Ethiopia's real GDP to assess the state of the economy and inform economic, fiscal, and monetary policies.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and revisions, as is common with national accounts statistics. The data may also not fully capture the informal sector of Ethiopia's economy.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Ethiopia (RGDPNAETA666NRUG), retrieved from FRED.