Expenditure-side Real GDP at Chained Purchasing Power Parities for Latvia
RGDPESLVA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
59,916.00
Year-over-Year Change
30.57%
Date Range
1/1/1990 - 1/1/2019
Summary
This economic trend measures the expenditure-side real GDP of Latvia, adjusted for purchasing power parity. It provides a standardized measure of Latvia's economic output that enables international comparisons.
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 purchasing power parities (PPPs) is a metric that adjusts a country's GDP for differences in price levels, allowing for more accurate cross-country economic comparisons. This data series is a key indicator of Latvia's economic performance and standard of living.
Methodology
The data is calculated by the World Bank using national accounts and price data.
Historical Context
This metric informs policymakers and investors about Latvia's economic growth and development relative to other countries.
Key Facts
- Latvia's 2021 expenditure-side real GDP at PPP was $65.7 billion.
- Latvia's real GDP per capita at PPP was $34,700 in 2021.
- Latvia's economy grew 4.8% in 2021 compared to the prior year.
FAQs
Q: What does this economic trend measure?
A: This trend measures Latvia's expenditure-side real GDP, which is the total economic output of Latvia adjusted for differences in price levels to enable international comparisons.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a standardized view of Latvia's economic performance that can be compared to other countries, informing policymakers, investors, and analysts about Latvia's economic growth and development.
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 informs policymakers and investors about Latvia's economic growth and development relative to other countries, supporting economic and investment decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not fully capture rapid economic changes within a given year.
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Citation
U.S. Federal Reserve, Expenditure-side Real GDP at Chained Purchasing Power Parities for Latvia (RGDPESLVA666NRUG), retrieved from FRED.