National Accounts: Gross Domestic Product for Tonga
TONNGDPDUSD • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
586,671,553.10
Year-over-Year Change
36.33%
Date Range
1/1/2016 - 1/1/2024
Summary
The National Accounts: Gross Domestic Product for Tonga series measures the total economic output of Tonga, a small island nation in the South Pacific. This metric is a key indicator of a country's economic health 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
Gross Domestic Product (GDP) is the standard measure of the value of all final goods and services produced within a country during a given period. The GDP data for Tonga provides insights into the size and growth of its economy, which is essential for economic analysis and policymaking.
Methodology
The GDP data for Tonga is collected and calculated by the Tonga Department of Statistics.
Historical Context
GDP is widely used by economists, policymakers, and investors to assess a country's economic performance and make informed decisions.
Key Facts
- Tonga is a small island nation in the South Pacific.
- GDP in Tonga was $0.49 billion in 2021.
- Tonga's economy is heavily dependent on tourism and agriculture.
FAQs
Q: What does this economic trend measure?
A: The National Accounts: Gross Domestic Product for Tonga series measures the total value of all goods and services produced in Tonga during a given period.
Q: Why is this trend relevant for users or analysts?
A: GDP is a crucial indicator of a country's economic health and development, and the data for Tonga provides important insights for economists, policymakers, and investors.
Q: How is this data collected or calculated?
A: The GDP data for Tonga is collected and calculated by the Tonga Department of Statistics.
Q: How is this trend used in economic policy?
A: GDP data is widely used by policymakers, economists, and analysts to assess a country's economic performance, make informed decisions, and develop effective economic policies.
Q: Are there update delays or limitations?
A: There may be delays in the release of GDP data for Tonga, and the data may be subject to revisions as more information becomes available.
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Number of Identified Exporters to Tonga from Michigan
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TONFCBODCKNUM
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Citation
U.S. Federal Reserve, National Accounts: Gross Domestic Product for Tonga (TONNGDPDUSD), retrieved from FRED.