Expenditure-side Real GDP at Chained Purchasing Power Parities for Czech Republic
RGDPESCZA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
435,390.09
Year-over-Year Change
37.63%
Date Range
1/1/1990 - 1/1/2019
Summary
This economic trend measures the real gross domestic product (GDP) of the Czech Republic based on purchasing power parity (PPP) exchange rates, providing a more accurate comparison of economic output across 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
Expenditure-side real GDP at chained PPPs is a key indicator of a country's economic performance and living standards, adjusting for price level differences between nations. It allows for more reliable cross-country analysis than market exchange rates.
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 evaluate economic conditions and make informed decisions.
Key Facts
- Czech Republic's real GDP based on PPPs was $434.7 billion in 2021.
- PPP-adjusted GDP per capita in the Czech Republic was $40,700 in 2021.
- The Czech economy grew by 3.3% in 2021 after contracting 5.8% in 2020 due to the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: This trend measures the real gross domestic product (GDP) of the Czech Republic, adjusted for differences in purchasing power across countries using PPP exchange rates.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate comparison of economic output and living standards across countries than using market exchange rates alone, allowing for better cross-country analysis and policy decisions.
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 evaluate economic conditions and make informed decisions about trade, investment, and development policies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Expenditure-side Real GDP at Chained Purchasing Power Parities for Czech Republic (RGDPESCZA666NRUG), retrieved from FRED.