Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Azerbaijan
RGDPL2AZA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,176.29
Year-over-Year Change
392.93%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for Azerbaijan, adjusted using the Laspeyres method and derived from growth rates of domestic absorption. It provides insights into the country's economic productivity 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
The PPP-converted GDP per capita metric accounts for differences in the cost of living between countries, allowing for more accurate international comparisons of economic output and standards of living. The Laspeyres method is used to derive this data from growth rates of domestic absorption, which encompasses household consumption, government spending, and investment.
Methodology
The data is calculated by the World Bank using a complex methodology that combines national accounts, price, and population data.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess economic development and make cross-country comparisons.
Key Facts
- Azerbaijan's PPP-converted GDP per capita was $16,916 in 2021.
- This metric has grown by an average of 2.3% per year over the past decade.
- PPP conversion accounts for differences in the cost of living across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Azerbaijan, adjusted using the Laspeyres method and derived from growth rates of domestic absorption.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for more accurate comparisons of economic output and living standards between Azerbaijan and other countries, accounting for differences in the cost of living.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a complex methodology that combines national accounts, price, and population data.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international organizations to assess economic development and make cross-country comparisons.
Q: Are there update delays or limitations?
A: There may be some delays in data availability and potential limitations in the underlying price and national accounts data used to derive this metric.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Azerbaijan (RGDPL2AZA625NUPN), retrieved from FRED.