Output-side Real GDP at Current Purchasing Power Parities for Uruguay

Q: What does this economic trend measure?

A: This trend measures the total economic output of Uruguay, adjusted for differences in purchasing power and prices across countries. It provides a more accurate comparison of living standards and productivity than nominal GDP.

Q: Why is this trend relevant for users or analysts?

A: This metric is crucial for evaluating Uruguay's economic performance and making international comparisons. It is widely used by economists, policymakers, and organizations to assess living standards, productivity, and competitiveness.

Q: How is this data collected or calculated?

A: The data is calculated by the World Bank using national accounts information and price surveys to adjust for purchasing power differences across countries.

Q: How is this trend used in economic policy?

A: Policymakers and international organizations utilize this metric to benchmark Uruguay's economic development, make cross-country comparisons, and inform decisions around trade, investment, and economic cooperation.

Q: Are there update delays or limitations?

A: There can be lags of up to 2 years in data availability, as the underlying price and national accounts data must be collected and processed. Additionally, cross-country comparisons may be affected by differences in statistical methodologies between countries.