Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Russia
PGD2USRUA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.69
Year-over-Year Change
105.23%
Date Range
1/1/1990 - 1/1/2010
Summary
This economic indicator measures Russia's gross domestic product (GDP) per capita relative to the United States, adjusted for purchasing power parity. It provides insight into the standard of living and economic productivity of Russia compared to the U.S.
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 (PPP) converted GDP per capita relative to the United States is a key measure used to compare the economic output and development of different countries. It accounts for differences in price levels between nations to give a more accurate assessment of living standards and productivity.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to convert GDP from local currencies to an international dollar basis.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to evaluate economic performance and inform policy decisions.
Key Facts
- Russia's GDP per capita is around 30% of the U.S. level.
- Russia's relative economic output has declined since the 1990s.
- PPP-adjusted GDP provides a more accurate comparison of living standards across countries.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Russia's gross domestic product (GDP) per capita relative to the United States, adjusted for differences in purchasing power between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the comparative economic development and living standards between Russia and the U.S., which is relevant for policymakers, economists, and international organizations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to convert GDP from local currencies to an international dollar basis.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists and policymakers to evaluate economic performance, inform policy decisions, and make comparisons of living standards and productivity between countries.
Q: Are there update delays or limitations?
A: There may be slight delays in data availability, and the calculations rely on economic modeling which can have certain limitations.
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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 Russia (PGD2USRUA621NUPN), retrieved from FRED.