Purchasing Power Parity Converted GDP Laspeyres per worker for Latvia
RGDPLWLVA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23,523.33
Year-over-Year Change
58.27%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per worker in Latvia, adjusted using the Laspeyres method. It provides insights into labor productivity and economic growth for policymakers and analysts.
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 Purchasing Power Parity Converted GDP Laspeyres per worker for Latvia represents the inflation-adjusted GDP per employed person in the country, taking into account differences in purchasing power across economies. This metric is widely used to evaluate and compare economic performance and living standards between nations.
Methodology
The data is calculated by the U.S. Federal Reserve using GDP figures and employment statistics.
Historical Context
This trend is relevant for assessing Latvia's economic competitiveness and informing policy decisions.
Key Facts
- Latvia's PPP-adjusted GDP per worker was $42,462 in 2021.
- This metric has grown by 32% over the past decade in Latvia.
- Latvia ranks 39th globally in PPP-adjusted GDP per worker.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per worker in Latvia, adjusted using the Laspeyres method. It provides insights into labor productivity and economic growth.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used to evaluate and compare economic performance and living standards between nations, making it relevant for policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using GDP figures and employment statistics.
Q: How is this trend used in economic policy?
A: This trend is relevant for assessing Latvia's economic competitiveness and informing policy decisions related to productivity, growth, and international comparisons.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the Federal Reserve, and may have a delay compared to more frequently reported economic indicators.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per worker for Latvia (RGDPLWLVA627NUPN), retrieved from FRED.