Purchasing Power Parity over GDP for Turkey
PPPTTLTRA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.22
Year-over-Year Change
688.03%
Date Range
1/1/1950 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Turkey measures the purchasing power of the Turkish lira relative to the U.S. dollar, a key indicator of a country's economic 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
Purchasing power parity (PPP) compares the cost of a standardized basket of goods and services in different countries, adjusting for exchange rate differences. This PPP over GDP metric provides insights into the real value of Turkey's economic output and living standards compared to other nations.
Methodology
The data is calculated by the World Bank using price surveys and GDP data.
Historical Context
Policymakers and analysts use PPP-adjusted metrics to evaluate a country's economic performance and purchasing power on the global stage.
Key Facts
- Turkey's PPP over GDP ratio was 0.618 in 2020.
- A lower PPP ratio indicates Turkey's goods and services are relatively inexpensive compared to the U.S.
- PPP metrics help account for cost-of-living differences when comparing economic output across countries.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Turkey measures the purchasing power of the Turkish lira relative to the U.S. dollar, adjusting for differences in the cost of living between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This PPP-adjusted metric provides insights into the real value of Turkey's economic output and living standards compared to other nations, which is useful for evaluating the country's economic competitiveness and performance on the global stage.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and GDP data to determine the purchasing power parity between the Turkish lira and U.S. dollar.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use PPP-adjusted metrics like this to evaluate a country's economic performance and purchasing power compared to other nations, which informs decisions around trade, investment, and economic development policies.
Q: Are there update delays or limitations?
A: The PPP over GDP data is published annually by the World Bank, so there may be a delay of up to a year before the most recent figures are available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Turkey (PPPTTLTRA618NUPN), retrieved from FRED.