Real GDP at Constant National Prices for Saint Lucia
RGDPNALCA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,255.11
Year-over-Year Change
20.12%
Date Range
1/1/1970 - 1/1/2019
Summary
The 'Real GDP at Constant National Prices for Saint Lucia' measures the total economic output of Saint Lucia, adjusted for inflation. It is a key indicator of the country's overall 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 the real gross domestic product (GDP) of Saint Lucia, calculated using constant national prices to account for the effects of inflation. Real GDP is a widely used metric for evaluating a country's economic performance and standard of living over time.
Methodology
The data is collected and calculated by the World Bank using established national accounting standards.
Historical Context
Policymakers and economists closely monitor this trend to inform macroeconomic decisions and assess the overall state of the Saint Lucian economy.
Key Facts
- Saint Lucia's real GDP grew by 1.7% in 2021.
- The services sector accounts for over 80% of Saint Lucia's GDP.
- Tourism is a major driver of Saint Lucia's economic activity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total real economic output of Saint Lucia, adjusting for the effects of inflation. It is a key indicator of the country's overall economic performance.
Q: Why is this trend relevant for users or analysts?
A: Real GDP is a widely used metric for evaluating a country's economic growth, productivity, and standard of living. It is closely monitored by policymakers, economists, and investors to inform macroeconomic decisions and assess the overall state of the Saint Lucian economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using established national accounting standards.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to gauge the overall health of the Saint Lucian economy, inform macroeconomic decisions, and assess the impact of policies on economic growth and development.
Q: Are there update delays or limitations?
A: There may be some delay in the availability of the most recent data, as it takes time to collect and process the necessary information. Additionally, the accuracy of the data may be influenced by factors such as data collection methods and changes in national accounting practices.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Saint Lucia (RGDPNALCA666NRUG), retrieved from FRED.