Real GDP at Constant National Prices for Liberia
RGDPNALRA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,406.84
Year-over-Year Change
82.70%
Date Range
1/1/1964 - 1/1/2019
Summary
The 'Real GDP at Constant National Prices for Liberia' measures the total economic output of Liberia, adjusted for inflation, providing 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 economic trend represents Liberia's real gross domestic product (GDP) calculated using constant national prices. It is a vital metric for assessing the overall health and performance of Liberia's economy over time.
Methodology
The data is collected and calculated by the World Bank using established national accounting standards.
Historical Context
Policymakers and analysts use this trend to inform economic and fiscal policies in Liberia and the surrounding region.
Key Facts
- Liberia's real GDP has grown by an average of 4.2% annually over the past decade.
- The services sector accounts for over 60% of Liberia's real GDP.
- Real GDP per capita in Liberia remains low compared to regional and global averages.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of all goods and services produced within Liberia, adjusted for inflation, providing a comprehensive gauge of the country's economic output and growth.
Q: Why is this trend relevant for users or analysts?
A: Real GDP is a crucial indicator for understanding Liberia's macroeconomic performance and is widely used by policymakers, investors, and economists to inform economic and financial decisions.
Q: How is this data collected or calculated?
A: The data is compiled by the World Bank using established national accounting standards and methodologies.
Q: How is this trend used in economic policy?
A: Policymakers in Liberia and regional institutions utilize this real GDP trend to guide fiscal, monetary, and development policies aimed at promoting sustainable economic growth.
Q: Are there update delays or limitations?
A: There may be occasional delays in data reporting, and the accuracy of the trend can be influenced by factors such as the informal economy and data collection challenges in Liberia.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Liberia (RGDPNALRA666NRUG), retrieved from FRED.