Price Level of GDP, average of GEKS-CPDW for Azerbaijan
PL2GDPAZA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60.53
Year-over-Year Change
36.61%
Date Range
1/1/1993 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Azerbaijan measures the relative purchasing power of the Azerbaijani manat compared to the U.S. dollar. It is an important indicator for understanding the country's economic competitiveness and living standards.
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 price level index compares the cost of a standardized basket of goods and services in Azerbaijan to the United States. It provides insights into the affordability of Azerbaijani products and services for both domestic and international consumers.
Methodology
The data is calculated using the Geary-Khamis-CPDW (GEKS-CPDW) method, which aggregates and compares price and expenditure data across countries.
Historical Context
Policymakers and analysts use this metric to evaluate Azerbaijan's economic performance and make informed decisions about trade, investment, and development strategies.
Key Facts
- Azerbaijan's price level was 36.1% of the U.S. level in 2021.
- The price level has increased by 10 percentage points since 2010.
- This metric helps assess the country's competitiveness in global markets.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Azerbaijan measures the relative purchasing power of the Azerbaijani manat compared to the U.S. dollar.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the affordability of Azerbaijani products and services, which is crucial for understanding the country's economic competitiveness and living standards.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis-CPDW (GEKS-CPDW) method, which aggregates and compares price and expenditure data across countries.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Azerbaijan's economic performance and make informed decisions about trade, investment, and development strategies.
Q: Are there update delays or limitations?
A: The data is published by the U.S. Federal Reserve and may be subject to update delays or limitations inherent in international price comparisons.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Azerbaijan (PL2GDPAZA621NUPN), retrieved from FRED.