Price Level of GDP, G-K method for Turkey
PLOGDPTRA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81.45
Year-over-Year Change
36.71%
Date Range
1/1/1950 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Turkey is an economic indicator that measures the price level of the country's gross domestic product using the Geary-Khamis (G-K) international comparison method.
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 trend represents the relative price level of GDP in Turkey compared to a reference point, providing insights into the purchasing power and cost of living in the country. It is a useful metric for international economic comparisons and analysis.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method, which adjusts for differences in price levels across countries.
Historical Context
Policymakers and analysts use this indicator to assess Turkey's economic competitiveness and living standards relative to other nations.
Key Facts
- Turkey's Price Level of GDP was 49.78 in 2021.
- The G-K method adjusts for differences in purchasing power across countries.
- This indicator is used to compare living standards and economic competitiveness.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Turkey measures the relative price level of the country's gross domestic product using the Geary-Khamis international comparison method.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the purchasing power and cost of living in Turkey, which is useful for assessing the country's economic competitiveness and living standards relative to other nations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method, which adjusts for differences in price levels across countries.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to evaluate Turkey's economic performance and living standards compared to other countries, which can inform policy decisions and economic strategies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with potential delays in the most recent year's release.
Related Trends
Price Level of Investment for Guinea-Bissau
PLOINVGWA624NUPN
Price Level of GDP, average of GEKS-CPDW for Singapore
PL2GDPSGA621NUPN
Price Level of Consumption for Hungary
PLOCONHUA622NUPN
Price Level of Government Consumption for Azerbaijan
PLOGINAZA623NUPN
Price Level of Government Consumption for Benin
PLOGINBJA623NUPN
Price Level of GDP, G-K method for Bolivia
PLOGDPBOA621NUPN
Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Turkey (PLOGDPTRA621NUPN), retrieved from FRED.