GDP is the total value of all goods and services produced within a country’s border during a period of time. The importance of this indicator is that it considers all goods and services produced in the country independently, if they are produced by foreigners or American citizens and/or companies. It therefore excludes the production of American companies in other countries.
GDP may be presented as nominal values (e.g. USD) or as GDP dynamics (in %). It presents a quick overview of the economy within a country.
GDP is a very popular indicator of the economic activity in a country.Although it is very important, one should take into consideration other economic indicators when analysing GDP. Generally, a higher GDP indicates a growth in economic activity, which may result from a healthy economy but, on the other hand, depending on the level of the GDP growth, it may also contribute to inflationary pressure. Usually an observable GDP growth provides an appreciation of the country’s currency.
Periodicity of publication
Preliminary data is released on a quarterly basis at 8.30am - on the last day of the quarter. Revised data is released one month after the period it concerns, and a month later the official GDP data is reported.