Real GDP at Constant National Prices for Romania
RGDPNAROA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
543,143.13
Year-over-Year Change
40.20%
Date Range
1/1/1960 - 1/1/2019
Summary
The Real GDP at Constant National Prices for Romania is an important macroeconomic indicator that measures the total output of goods and services produced within Romania, adjusted for inflation.
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 Romania, calculated using constant national prices to account for changes in the purchasing power of the local currency. It is a key metric for analyzing Romania's economic growth and assessing the overall health of its economy.
Methodology
The data is collected and calculated by the World Bank using national accounts data.
Historical Context
Economists and policymakers closely monitor this trend to inform economic and fiscal policy decisions.
Key Facts
- Romania's real GDP grew by 5.1% in 2021.
- The service sector accounts for over 60% of Romania's GDP.
- Romania's real GDP per capita was $14,258 in 2021.
FAQs
Q: What does this economic trend measure?
A: The Real GDP at Constant National Prices for Romania measures the total value of goods and services produced within the Romanian economy, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This trend is a key indicator of Romania's economic performance and is widely used by economists, policymakers, and investors to assess the country's economic growth and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and central banks closely monitor this trend to inform decisions on monetary, fiscal, and economic policies aimed at promoting sustainable economic growth in Romania.
Q: Are there update delays or limitations?
A: The data is typically released with a lag of several months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Real GDP at Constant National Prices for Romania (RGDPNAROA666NRUG), retrieved from FRED.