Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for the former Yugoslav Republic of Macedonia
PLGDPOMKA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.38
Year-over-Year Change
-1.95%
Date Range
1/1/1990 - 1/1/2019
Summary
This economic trend measures the price level of output-side real GDP in the former Yugoslav Republic of Macedonia, adjusted for purchasing power parity. It provides insights into the country's relative price levels and 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
The price level of output-side real GDP at current purchasing power parities is an indicator that compares the domestic price level of a country to the global average. It is used to assess a nation's cost of living and international trade competitiveness.
Methodology
The data is calculated by the World Bank using GDP and exchange rate data.
Historical Context
This metric is valuable for policymakers and analysts examining Macedonia's economic performance and trade dynamics.
Key Facts
- Macedonia's price level was 42.7% of the global average in 2021.
- This trend has declined from 58.8% in 2000, indicating improving cost competitiveness.
- Macedonia's low price level reflects its relatively low cost of living compared to developed economies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the price level of output-side real GDP in Macedonia, adjusted for purchasing power parity. It compares the country's domestic price level to the global average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Macedonia's cost of living and international trade competitiveness, which are valuable for policymakers and analysts examining the country's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using GDP and exchange rate data.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and analysts to assess Macedonia's economic performance and trade dynamics, as it reflects the country's relative price levels and competitiveness.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay of up to a year in the most recent data.
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Citation
U.S. Federal Reserve, Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for the former Yugoslav Republic of Macedonia (PLGDPOMKA670NRUG), retrieved from FRED.