Gross Domestic Product in U.S. Dollars for St. Kitts and Nevis
SKNNGDPD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,309,091,012.40
Year-over-Year Change
63.49%
Date Range
1/1/2011 - 1/1/2024
Summary
The 'Gross Domestic Product in U.S. Dollars for St. Kitts and Nevis' trend measures the total value of all goods and services produced within the twin-island nation of St. Kitts and Nevis, expressed in U.S. dollars. This key economic indicator provides insights into the overall size and performance of the country's economy.
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 GDP series represents the market value of all final goods and services produced within the territory of St. Kitts and Nevis during a given time period, typically a year or quarter. It is a comprehensive measure of a country's economic activity and is widely used by policymakers, researchers, and analysts to assess economic growth, development, and living standards.
Methodology
The data is collected and calculated by the St. Kitts and Nevis Statistics Department based on various sources, including national accounts, surveys, and administrative records.
Historical Context
GDP is a crucial metric for evaluating the health and performance of an economy, and it informs policy decisions related to fiscal, monetary, and trade policies.
Key Facts
- St. Kitts and Nevis is a small island country in the Caribbean Sea.
- Tourism and agriculture are major contributors to the country's GDP.
- The GDP of St. Kitts and Nevis has shown steady growth in recent years.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of all goods and services produced within the territory of St. Kitts and Nevis, expressed in U.S. dollars. It is a comprehensive indicator of the country's economic activity and performance.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial metric for evaluating the health and performance of an economy, and it informs policy decisions related to fiscal, monetary, and trade policies. It provides valuable insights into the overall size and growth of the St. Kitts and Nevis economy.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the St. Kitts and Nevis Statistics Department based on various sources, including national accounts, surveys, and administrative records.
Q: How is this trend used in economic policy?
A: GDP is a key indicator used by policymakers, researchers, and analysts to assess economic growth, development, and living standards. It informs decisions related to fiscal, monetary, and trade policies in St. Kitts and Nevis and globally.
Q: Are there update delays or limitations?
A: The GDP data for St. Kitts and Nevis may be subject to periodic updates and revisions, and there may be some delays in data availability due to the time required for data collection and processing.
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Citation
U.S. Federal Reserve, Gross Domestic Product in U.S. Dollars for St. Kitts and Nevis (SKNNGDPD), retrieved from FRED.