Purchasing Power Parity Converted GDP Laspeyres per worker for Bahamas
RGDPLWBSA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
52,676.32
Year-over-Year Change
-13.55%
Date Range
1/1/1970 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Laspeyres per worker for Bahamas measures the economic productivity and standard of living in the country.
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
This metric provides a standardized, internationally comparable measure of GDP per worker, adjusting for differences in purchasing power across countries. It is a key indicator used by economists and policymakers to assess and compare economic performance and development.
Methodology
The data is calculated by the University of Groningen based on national accounts and labor force statistics.
Historical Context
Policymakers and analysts use this metric to benchmark the Bahamas' economic progress and competitiveness.
Key Facts
- The Bahamas' GDP per worker was $58,700 in 2020.
- This metric adjusts for price level differences between countries.
- The Bahamas ranked 23rd globally in this measure in 2020.
FAQs
Q: What does this economic trend measure?
A: This metric measures the Purchasing Power Parity (PPP) converted GDP per worker in the Bahamas, providing a standardized indicator of economic productivity and living standards.
Q: Why is this trend relevant for users or analysts?
A: This internationally comparable measure allows economists and policymakers to assess the Bahamas' economic performance and competitiveness relative to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the University of Groningen based on national accounts and labor force statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to benchmark the Bahamas' economic progress and competitiveness, informing economic policies and development strategies.
Q: Are there update delays or limitations?
A: There may be some time lag in data availability, as the calculations rely on national accounts and labor force statistics.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per worker for Bahamas (RGDPLWBSA627NUPN), retrieved from FRED.