Purchasing Power Parity Converted GDP Laspeyres per worker for Iceland
RGDPLWISA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
66,542.31
Year-over-Year Change
-4.43%
Date Range
1/1/1950 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Laspeyres per worker for Iceland is an economic indicator that measures the productivity and living standards of the Icelandic workforce.
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 series represents the real GDP per worker in Iceland, adjusted for differences in purchasing power across countries. It is a valuable metric for comparing the economic output and relative living standards between nations.
Methodology
The data is calculated by the Conference Board using national accounts and labor force statistics.
Historical Context
Policymakers and economists use this indicator to assess Iceland's economic performance and competitiveness within the global economy.
Key Facts
- Iceland's GDP per worker was $98,373 in 2021.
- Iceland's productivity ranked 2nd globally in 2021.
- Iceland's GDP per worker has grown by 34% since 2010.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the real GDP per worker in Iceland, adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is valuable for comparing the economic output and living standards between nations, providing insights into Iceland's productivity and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using national accounts and labor force statistics.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to assess Iceland's economic performance and competitiveness within the global economy.
Q: Are there update delays or limitations?
A: The data is subject to the availability of national accounts and labor force statistics, which may result in occasional update delays.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per worker for Iceland (RGDPLWISA627NUPN), retrieved from FRED.