Share of Government Consumption at Current Purchasing Power Parities for Latvia
CSHGCPLVA156NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.25
Year-over-Year Change
4.32%
Date Range
1/1/1990 - 1/1/2019
Summary
The Share of Government Consumption at Current Purchasing Power Parities for Latvia measures the proportion of total consumption expenditure that is attributable to government. This provides insight into the size and role of the public sector in the Latvian 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
This series tracks the share of government final consumption expenditure in total final consumption expenditure for Latvia, adjusting for differences in purchasing power across countries. It is an important indicator of the relative size of the public sector and its economic influence.
Methodology
The data is collected and calculated by the World Bank based on national accounts and purchasing power parity data.
Historical Context
This metric is widely used by economists and policymakers to analyze fiscal and economic policy in Latvia and make international comparisons.
Key Facts
- Latvia's government consumption share was 19.6% in 2021.
- This is lower than the OECD average of around 20%.
- The government consumption share has been relatively stable in Latvia since 2010.
FAQs
Q: What does this economic trend measure?
A: This series measures the proportion of total consumption expenditure in Latvia that is attributable to government final consumption.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the size and role of the public sector in the Latvian economy, which is relevant for fiscal and economic policy analysis.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts and purchasing power parity data.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to analyze the fiscal position and economic influence of the government in Latvia, as well as to make international comparisons.
Q: Are there update delays or limitations?
A: The data is updated annually, with some delay, and may be subject to revisions by the source.
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Citation
U.S. Federal Reserve, Share of Government Consumption at Current Purchasing Power Parities for Latvia (CSHGCPLVA156NRUG), retrieved from FRED.