Purchasing Power Parity over GDP for Macedonia
PPPTTLMKA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23.76
Year-over-Year Change
16.40%
Date Range
1/1/1990 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Macedonia measures the relative purchasing power of the Macedonian economy compared to the global average. It is an important indicator of a country's standard of living and economic development.
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
Purchasing power parity (PPP) is an economic theory that compares different countries' currencies through a 'basket' of goods. The PPP over GDP ratio shows how Macedonia's costs and prices compare to the global average, providing insight into its economic competitiveness and living standards.
Methodology
The data is calculated by the World Bank using price surveys and national accounts statistics.
Historical Context
Policymakers and analysts use this PPP metric to assess Macedonia's economic performance and living standards relative to other countries.
Key Facts
- Macedonia's PPP over GDP ratio was 0.61 in 2021.
- The PPP ratio has increased from 0.44 in 2000, indicating rising living standards.
- Macedonia's PPP ratio is lower than the OECD average, signaling relatively lower costs and prices.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Macedonia measures the relative purchasing power of the Macedonian economy compared to the global average.
Q: Why is this trend relevant for users or analysts?
A: This PPP metric provides insight into Macedonia's economic competitiveness and living standards relative to other countries, which is useful for policymakers and analysts assessing the country's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and national accounts statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this PPP metric to assess Macedonia's economic performance and living standards relative to other countries.
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 figures being available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Macedonia (PPPTTLMKA618NUPN), retrieved from FRED.