Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Norway
RGDPLPNOA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
50,490.91
Year-over-Year Change
15.07%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures Norway's purchasing power parity (PPP) converted GDP per capita, derived from growth rates of consumption, government consumption, and investment. It provides insights into Norway's economic productivity and living standards relative to other 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
The PPP-converted GDP per capita series adjusts for differences in price levels between countries, allowing for more accurate international comparisons of economic output and living standards. This metric is widely used by economists and policymakers to analyze a country's economic development and make informed decisions.
Methodology
The data is calculated by the U.S. Federal Reserve using growth rates of key macroeconomic components.
Historical Context
This trend is relevant for understanding Norway's economic performance and competitiveness in global markets.
Key Facts
- Norway's PPP-converted GDP per capita was $72,789 in 2021.
- Norway has one of the highest GDP per capita in the world.
- The PPP adjustment accounts for differences in cost of living between countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures Norway's purchasing power parity (PPP) converted GDP per capita, which adjusts for differences in price levels between countries to provide a more accurate comparison of economic output and living standards.
Q: Why is this trend relevant for users or analysts?
A: This trend is widely used by economists and policymakers to analyze a country's economic development and competitiveness in the global market.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using growth rates of key macroeconomic components, including consumption, government consumption, and investment.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to understand Norway's economic performance and make informed decisions about economic policies and international trade.
Q: Are there update delays or limitations?
A: The data is subject to the availability of the underlying macroeconomic components, which may have certain update delays or limitations.
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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 Norway (RGDPLPNOA625NUPN), retrieved from FRED.