Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Latvia
KCPPPGLVA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
76.83
Year-over-Year Change
1.77%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures the share of per capita GDP in Latvia that is dedicated to household consumption, adjusting for purchasing power parity. It provides insights into consumer spending patterns and the overall state of 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
The consumption share of purchasing power parity converted GDP per capita is an important indicator of consumer demand and the standard of living in Latvia. It represents the proportion of the country's economic output that is devoted to household expenditures on goods and services.
Methodology
The data is calculated by the World Bank using household survey information and national accounts data.
Historical Context
This metric is closely watched by policymakers and analysts to assess the health of the Latvian economy and make informed decisions.
Key Facts
- Latvia's consumption share of GDP was 62.4% in 2021.
- The trend has remained relatively stable over the past decade.
- Consumption accounts for the largest component of Latvia's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the proportion of Latvia's GDP per capita, adjusted for purchasing power parity, that is devoted to household consumption expenditures.
Q: Why is this trend relevant for users or analysts?
A: The consumption share of GDP is a key indicator of consumer demand and the overall standard of living in Latvia, providing insights into the strength of the domestic economy.
Q: How is this data collected or calculated?
A: The World Bank calculates this metric using household survey information and national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this indicator to assess the health of the Latvian economy and make informed decisions regarding fiscal and monetary policies.
Q: Are there update delays or limitations?
A: The data is updated annually, with a potential delay of 1-2 years. The metric may not capture all informal or unrecorded economic activity.
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Citation
U.S. Federal Reserve, Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Latvia (KCPPPGLVA156NUPN), retrieved from FRED.