Price Level of GDP, average of GEKS-CPDW for Ethiopia
PL2GDPETA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.18
Year-over-Year Change
-1.95%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of GDP, average of GEKS-CPDW for Ethiopia measures the relative price level of total output in Ethiopia compared to a global average. It is an important metric for economists and policymakers to assess Ethiopia's economic competitiveness.
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 index represents the price level of Gross Domestic Product (GDP) in Ethiopia, calculated using the Geary-Khamis-Elteto-Koves-Szulc-Chain Price Index method. It provides a standardized measure of Ethiopia's price level relative to other countries, which is crucial for analyzing its international trade and investment position.
Methodology
The data is collected and calculated by the World Bank using national accounts and price information.
Historical Context
Policymakers and analysts use this metric to evaluate Ethiopia's economic performance and competitiveness within global markets.
Key Facts
- Ethiopia's price level was 36.21% of the global average in 2020.
- The Price Level of GDP index has increased by 18.8% since 2010.
- This metric is used to adjust GDP for cross-country price level differences.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, average of GEKS-CPDW for Ethiopia measures the relative price level of total output in Ethiopia compared to a global average.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for analyzing Ethiopia's international trade and investment position, as it provides a standardized measure of the country's price level relative to other economies.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and price information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Ethiopia's economic performance and competitiveness within global markets.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be delays in reporting or potential limitations in the underlying price and national accounts data.
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Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Ethiopia (PL2GDPETA621NUPN), retrieved from FRED.