Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Azerbaijan
PC2GDPAZA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,782.06
Year-over-Year Change
677.82%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Azerbaijan, providing a standardized metric for international economic comparisons.
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
The PPP-converted GDP per capita statistic allows for more accurate cross-country analysis of living standards and economic productivity by adjusting for differences in price levels between nations. It is a key indicator used by economists, policymakers, and international organizations to evaluate a country's economic development.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to convert local currency GDP figures into a common, internationally comparable unit.
Historical Context
This trend is widely referenced in macroeconomic analysis, development studies, and global competitiveness rankings.
Key Facts
- Azerbaijan's 2021 PPP-adjusted GDP per capita was $13,957.
- Azerbaijan's PPP GDP per capita has grown by 63% since 2010.
- Among Caucasus countries, Azerbaijan has the highest PPP GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Azerbaijan, adjusting for differences in price levels to allow for more accurate international comparisons of living standards and economic productivity.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita is a key indicator used by economists, policymakers, and international organizations to evaluate a country's economic development and living standards in a globally comparative context.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to convert local currency GDP figures into a common, internationally comparable unit.
Q: How is this trend used in economic policy?
A: This trend is widely referenced in macroeconomic analysis, development studies, and global competitiveness rankings to assess a country's economic performance and living standards relative to other nations.
Q: Are there update delays or limitations?
A: The PPP GDP per capita data is typically published with a 1-2 year lag due to the complex methodology and data collection process.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Azerbaijan (PC2GDPAZA620NUPN), retrieved from FRED.