Purchasing Power Parity over GDP for Norway
PPPTTLNOA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9.15
Year-over-Year Change
8.72%
Date Range
1/1/1950 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Norway measures the relative strength of the Norwegian krone compared to the U.S. dollar. It is an important economic indicator for comparing living standards and trade competitiveness between countries.
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 a metric that estimates the exchange rate required for the prices of goods and services in different countries to be equal. The PPP over GDP ratio for Norway provides insights into the real purchasing power of the Norwegian economy relative to the United States.
Methodology
The data is calculated by the World Bank using price surveys and national accounts data.
Historical Context
Policymakers and economists use this PPP ratio to evaluate economic performance and living standards across countries.
Key Facts
- Norway has one of the highest PPP over GDP ratios in the world.
- The PPP ratio helps explain differences in the cost of living between Norway and the U.S.
- Tracking changes in Norway's PPP ratio can indicate shifts in its international trade competitiveness.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Norway measures the relative purchasing power of the Norwegian economy compared to the United States.
Q: Why is this trend relevant for users or analysts?
A: This PPP ratio provides insights into the real living standards and trade competitiveness of the Norwegian economy relative to the U.S.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this PPP ratio to evaluate economic performance and living standards across countries.
Q: Are there update delays or limitations?
A: The PPP data is published annually, so there may be a delay of up to a year in the most recent information.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Norway (PPPTTLNOA618NUPN), retrieved from FRED.