Expenditure-side Real GDP at Current Purchasing Power Parities for Georgia
CGDPESGEA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59,277.50
Year-over-Year Change
106.54%
Date Range
1/1/1990 - 1/1/2019
Summary
This economic indicator measures the real gross domestic product (GDP) of Georgia based on current purchasing power parities. It is a key metric for analyzing the size and growth of the Georgian economy.
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 expenditure-side real GDP at current purchasing power parities (PPPs) for Georgia provides a comprehensive measure of the country's economic output. It accounts for differences in price levels between Georgia and other countries, allowing for more accurate international comparisons.
Methodology
The data is calculated by the World Bank using household consumption, government consumption, gross capital formation, and net exports.
Historical Context
This trend is widely used by economists, policymakers, and investors to assess Georgia's economic performance and competitiveness.
Key Facts
- Georgia's real GDP based on current PPPs was $59.4 billion in 2021.
- The Georgian economy grew by 10.4% in 2021 after contracting 6.2% in 2020.
- Georgia's GDP per capita based on current PPPs was $15,850 in 2021.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the real gross domestic product (GDP) of Georgia adjusted for differences in price levels, providing a more accurate comparison of the size of the Georgian economy relative to other countries.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for evaluating Georgia's economic performance and competitiveness, as it accounts for price level differences and allows for more meaningful international comparisons.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using household consumption, government consumption, gross capital formation, and net exports.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and investors use this trend to assess Georgia's economic growth, competitiveness, and overall development, which informs decision-making and policy formulation.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Expenditure-side Real GDP at Current Purchasing Power Parities for Georgia (CGDPESGEA666NRUG), retrieved from FRED.