Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for Oman
PLGDPOOMA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.51
Year-over-Year Change
46.39%
Date Range
1/1/1970 - 1/1/2019
Summary
This economic trend measures the price level of Oman's real gross domestic product (GDP) adjusted for purchasing power parity (PPP). It provides insights into the relative costs of goods and services in Oman compared to the global average.
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 important metric for evaluating the standard of living and international competitiveness of an economy. It reflects the purchasing power of a country's currency and can help analysts assess trade balances and exchange rate policy.
Methodology
The data is calculated by the World Bank using national accounts and PPP conversion factors.
Historical Context
This trend is widely used by economists, policymakers, and investors to compare the cost of living and productivity across countries.
Key Facts
- Oman's price level of real GDP was 48.4% of the global average in 2021.
- The trend has increased from 44.4% in 2010, indicating rising costs in Oman.
- Oman's low price level reflects its relatively low cost of living compared to advanced economies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the price level of Oman's real gross domestic product (GDP) adjusted for purchasing power parity (PPP). It provides insights into the relative costs of goods and services in Oman compared to the global average.
Q: Why is this trend relevant for users or analysts?
A: The price level of output-side real GDP at current purchasing power parities is an important metric for evaluating the standard of living and international competitiveness of an economy. It reflects the purchasing power of a country's currency and can help analysts assess trade balances and exchange rate policy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and PPP conversion factors.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and investors to compare the cost of living and productivity across countries, which can inform decisions on trade, investment, and exchange rate policy.
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 observations.
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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 Oman (PLGDPOOMA670NRUG), retrieved from FRED.