Slovak GDP (YoY)
Gross domestic product is the total cost of finished goods and services produced within a country during a certain period. GDP is a complex indicator that characterizes the general state of the economy and the dynamics of its development. First of all, the GDP indicator is used to compare the degree of economic development in different countries. Depending on the calculation procedure, it is divided into the following types: the nominal GDP (goods and services are recorded according to the prices of the current observation period); real GDP (prices for goods and services are fixed on one level, excluding the inflation’s influence on GDP); GDP per head of population. The dynamics of GDP assess the current state of the economy, its prospects, and the need to stimulate or restrain by financial regulators. As the summarizing indicator of economic development, GDP is the key indicator used by the government authorities, corporations and the sole investors in the strategic decision-making and forecasting.
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