Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Republic of Korea
RGDPL2KRA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,831.86
Year-over-Year Change
70.96%
Date Range
1/1/1953 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Per Capita (Laspeyres) trend measures the economic output per person in the Republic of Korea, adjusting for differences in purchasing power across 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
This metric provides a standardized comparison of living standards and productivity across nations. It is a key indicator used by economists and policymakers to assess a country's economic development and potential.
Methodology
The data is calculated based on growth rates of domestic absorption for the Republic of Korea.
Historical Context
This trend is widely referenced in international economic analyses and discussions of global competitiveness.
Key Facts
- South Korea is one of the largest economies in Asia.
- This metric has increased significantly over the past several decades.
- Purchasing power parity adjustments are crucial for accurate cross-country comparisons.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gross Domestic Product (GDP) per capita in the Republic of Korea, adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a standardized basis for comparing living standards and economic productivity between nations, which is crucial for international economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is calculated based on growth rates of domestic absorption for the Republic of Korea.
Q: How is this trend used in economic policy?
A: This trend is widely referenced in discussions of global competitiveness, trade policy, and assessing a country's economic development and potential.
Q: Are there update delays or limitations?
A: There may be some time lag in the data availability, and the methodology for purchasing power parity adjustments can be complex.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Republic of Korea (RGDPL2KRA625NUPN), retrieved from FRED.