Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Azerbaijan
RGDPLPAZA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,479.00
Year-over-Year Change
368.92%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita in Azerbaijan, adjusted for changes in consumption, government spending, and investment over time.
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 provides a more accurate comparison of living standards across countries by accounting for differences in price levels. This data series is derived from underlying growth rates of key national accounts components.
Methodology
The data is calculated by the World Bank using a Laspeyres index formula applied to national accounts components.
Historical Context
This metric is widely used by economists and policymakers to assess economic development and living standards.
Key Facts
- Azerbaijan's PPP-adjusted GDP per capita was $17,700 in 2021.
- This metric has grown by an average of 3.2% annually over the past decade.
- PPP adjustment accounts for differences in relative price levels across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita in Azerbaijan, which provides a more accurate comparison of living standards by accounting for price level differences.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to assess economic development and living standards across countries in a more comparable way.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a Laspeyres index formula applied to national accounts components.
Q: How is this trend used in economic policy?
A: This PPP-adjusted GDP per capita metric is used by institutions and analysts to evaluate economic performance and living standards, informing policy decisions.
Q: Are there update delays or limitations?
A: There may be some delays in data availability, as the underlying national accounts data must be processed and harmonized across countries.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Azerbaijan (RGDPLPAZA625NUPN), retrieved from FRED.