Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Lithuania
PGDPUSLTA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33.56
Year-over-Year Change
56.01%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures Lithuania's per capita GDP adjusted for purchasing power parity relative to the United States. It provides insights into the relative living standards and economic productivity between the two countries.
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 purchasing power parity (PPP) conversion adjusts for differences in price levels between countries, allowing for more accurate comparisons of real economic output and living standards. This metric is widely used by economists and policymakers to evaluate cross-country competitiveness and development.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, a standard approach for PPP conversion.
Historical Context
This trend is relevant for analyzing Lithuania's economic performance and its convergence with more developed economies.
Key Facts
- Lithuania's relative GDP per capita was 56% of the U.S. level in 2020.
- The PPP adjustment accounts for differences in cost of living between the two countries.
- This metric is a key indicator of economic development and convergence.
FAQs
Q: What does this economic trend measure?
A: This trend measures Lithuania's per capita GDP adjusted for purchasing power parity (PPP) relative to the United States. The PPP adjustment accounts for differences in price levels between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate comparison of living standards and economic productivity between Lithuania and the U.S. It is widely used by economists and policymakers to evaluate cross-country competitiveness and development.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, a standard approach for PPP conversion.
Q: How is this trend used in economic policy?
A: This trend is relevant for analyzing Lithuania's economic performance and its convergence with more developed economies like the United States. Policymakers use it to assess relative living standards and competitiveness.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may not fully capture the most recent economic conditions. The PPP adjustment also has inherent limitations in fully accounting for all price level differences between countries.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Lithuania (PGDPUSLTA621NUPN), retrieved from FRED.