Expenditure-side Real GDP at Chained Purchasing Power Parities for Cyprus
RGDPESCYA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
33,665.64
Year-over-Year Change
16.70%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic indicator measures the real gross domestic product (GDP) of Cyprus, adjusted for differences in purchasing power across countries. It provides a more accurate comparison of living standards and economic activity.
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 expenditure-side real GDP at chained purchasing power parities (PPPs) for Cyprus is a comprehensive measure of the total value of goods and services produced within the country, adjusted for price level differences between Cyprus and other economies. This allows for better cross-country comparisons of economic performance and living standards.
Methodology
The data is calculated by the World Bank using national accounts and price data.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to analyze and benchmark the Cypriot economy.
Key Facts
- Cyprus's real GDP at PPP was $31.9 billion in 2021.
- The Cypriot economy grew by 5.5% in 2021 after a 5% contraction in 2020.
- Cyprus has a per capita GDP at PPP of $35,700, higher than the OECD average.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the real gross domestic product (GDP) of Cyprus, adjusted for differences in purchasing power across countries. It provides a more accurate comparison of living standards and economic activity.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for better cross-country comparisons of economic performance and living standards, which is crucial for economists, policymakers, and international organizations analyzing and benchmarking the Cypriot economy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and price data.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to analyze and benchmark the Cypriot economy, informing economic policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with some delay in availability.
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Citation
U.S. Federal Reserve, Expenditure-side Real GDP at Chained Purchasing Power Parities for Cyprus (RGDPESCYA666NRUG), retrieved from FRED.