National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Slovak Republic
SVKGDPRQPSMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.96
Year-over-Year Change
-44.09%
Date Range
1/1/1998 - 1/1/2025
Summary
This economic indicator measures the total real gross domestic product (GDP) of the Slovak Republic, adjusted for inflation. GDP is a key metric for evaluating the overall health and growth of a national 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
Gross domestic product (GDP) is the total monetary value of all finished goods and services produced within a country's borders over a specific time period. The GDP by expenditure data for Slovakia provides a detailed breakdown of the various components that contribute to the nation's economic output.
Methodology
The GDP data is collected and calculated by the Statistical Office of the Slovak Republic based on internationally standardized national accounting principles.
Historical Context
Policymakers and analysts use this GDP data to monitor economic performance, inform fiscal and monetary policies, and assess the country's progress relative to other nations.
Key Facts
- The Slovak Republic's GDP totaled $111 billion in 2021.
- GDP growth in Slovakia averaged 3.3% annually from 2000 to 2021.
- Household consumption accounts for about 55% of Slovakia's GDP.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total real gross domestic product (GDP) of the Slovak Republic, adjusted for inflation. GDP is a comprehensive metric of a country's economic output.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial indicator for evaluating the overall health and growth of an economy. This data allows policymakers and analysts to monitor Slovakia's economic performance, inform policy decisions, and compare the country's progress to other nations.
Q: How is this data collected or calculated?
A: The GDP data is collected and calculated by the Statistical Office of the Slovak Republic based on internationally standardized national accounting principles.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this GDP data to monitor economic performance, inform fiscal and monetary policies, and assess the country's progress relative to other nations.
Q: Are there update delays or limitations?
A: The GDP data is typically released with a lag of several months, so the most recent figures may not fully reflect the current state of the economy.
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Citation
U.S. Federal Reserve, National Accounts: GDP by Expenditure: Constant Prices: Gross Domestic Product: Total for Slovak Republic (SVKGDPRQPSMEI), retrieved from FRED.