Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Azerbaijan
PGD2USAZA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.15
Year-over-Year Change
429.26%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures Azerbaijan's purchasing power parity (PPP) converted gross domestic product (GDP) per capita relative to the United States. It provides insights into the comparative living standards and economic productivity between the two 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
The PPP-converted GDP per capita relative to the US is a key indicator of a country's economic development and standard of living. It adjusts for differences in price levels between countries, allowing more accurate comparisons of real incomes and purchasing power.
Methodology
The data is calculated using the Geary-Khamis-CPDW (GK-CPDW) method based on national accounts and price data.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess economic performance and make cross-country comparisons.
Key Facts
- Azerbaijan's GDP per capita is around 18% of the US level.
- PPP adjustments are crucial for accurate cross-country income comparisons.
- The data is updated annually by the World Bank.
FAQs
Q: What does this economic trend measure?
A: This trend measures Azerbaijan's purchasing power parity (PPP) converted gross domestic product (GDP) per capita relative to the United States.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into the comparative living standards and economic productivity between Azerbaijan and the US, which is useful for policymakers, economists, and international organizations.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis-CPDW (GK-CPDW) method based on national accounts and price data.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international organizations to assess economic performance and make cross-country comparisons.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, with a potential delay of several months.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Azerbaijan (PGD2USAZA621NUPN), retrieved from FRED.