Output-side Real GDP at Current Purchasing Power Parities for Mongolia
CGDPOSMNA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,103.90
Year-over-Year Change
102.12%
Date Range
1/1/1970 - 1/1/2019
Summary
This economic trend measures the real gross domestic product (GDP) of Mongolia, adjusted for purchasing power parity (PPP). It provides a more accurate comparison of economic output 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
Output-side real GDP at current purchasing power parities is a measure of a country's economic production, adjusted to account for differences in the cost of living between countries. It is a key indicator used by economists and policymakers to assess a nation's economic performance.
Methodology
The data is calculated by the World Bank using national accounts and price data.
Historical Context
This metric is widely used to compare living standards and productivity levels across economies.
Key Facts
- Mongolia's output-side real GDP at current PPP was $40.78 billion in 2021.
- This metric grew by 5.1% in Mongolia in 2021 after a 5.2% contraction in 2020.
- Mongolia's real GDP per capita at current PPP was $12,337 in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of Mongolia, adjusted for purchasing power parity (PPP). It provides a more accurate comparison of economic output across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to assess a nation's economic performance and living standards compared to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and price data.
Q: How is this trend used in economic policy?
A: This metric is used by markets, economists, and institutions to compare productivity levels and living standards across economies.
Q: Are there update delays or limitations?
A: The data may have some delay in reporting due to the time required for data collection and calculation by the World Bank.
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Citation
U.S. Federal Reserve, Output-side Real GDP at Current Purchasing Power Parities for Mongolia (CGDPOSMNA666NRUG), retrieved from FRED.