Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Azerbaijan
PCDGDPAZA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,278.16
Year-over-Year Change
304.44%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic indicator measures the purchasing power and domestic consumption per capita in Azerbaijan, adjusted for price differences across countries using purchasing power parity (PPP) conversion.
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 Purchasing Power Parity Converted Domestic Absorption Per Capita metric provides insights into the real standard of living and consumption patterns in Azerbaijan. It is a valuable tool for cross-country comparisons and analysis of economic development.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to convert local currency values to a common unit.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess economic performance and living standards.
Key Facts
- Azerbaijan's Purchasing Power Parity Converted Domestic Absorption Per Capita was $15,798 in 2021.
- This metric has grown by an average of 3.2% per year over the past decade in Azerbaijan.
- PPP conversion adjusts for price level differences to provide a more accurate comparison of living standards across countries.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the per capita purchasing power and domestic consumption in Azerbaijan, adjusted for differences in price levels across countries using the purchasing power parity (PPP) method.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the real standard of living and consumption patterns in Azerbaijan, enabling more accurate cross-country comparisons and analysis of economic development.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to convert local currency values to a common unit based on purchasing power parity.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to assess economic performance, living standards, and consumption patterns in Azerbaijan and compare them to other countries.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a delay of approximately one year. Limitations include the challenges of accurately measuring price differences across countries.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Azerbaijan (PCDGDPAZA620NUPN), retrieved from FRED.