Expenditure-side Real GDP at Chained Purchasing Power Parities for Turkey
RGDPESTRA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,227,538.25
Year-over-Year Change
87.12%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures real GDP in Turkey based on expenditure-side purchasing power parities, providing a more accurate assessment of economic output and living standards.
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 an advanced indicator that adjusts Turkey's GDP for differences in price levels, offering a more representative view of the country's economic performance and comparative living standards.
Methodology
The data is calculated by the OECD using detailed expenditure and price data.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to evaluate Turkey's economic development and competitiveness.
Key Facts
- Turkey's 2021 expenditure-side real GDP was $2.4 trillion.
- PPP-adjusted GDP per capita in Turkey was $27,700 in 2021.
- Turkey's economy grew by 11% in 2021 based on this measure.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Turkey's real GDP based on expenditure-side purchasing power parities, which adjusts for differences in price levels between Turkey and other countries.
Q: Why is this trend relevant for users or analysts?
A: This more accurate GDP measure is crucial for evaluating Turkey's economic performance, living standards, and international competitiveness compared to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using detailed expenditure and price data.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and international organizations use this indicator to assess Turkey's economic development, formulate policies, and make international comparisons.
Q: Are there update delays or limitations?
A: There can be lags in data availability, as the OECD relies on detailed expenditure and price surveys to calculate this measure.
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Citation
U.S. Federal Reserve, Expenditure-side Real GDP at Chained Purchasing Power Parities for Turkey (RGDPESTRA666NRUG), retrieved from FRED.