Purchasing Power Parity Converted GDP Laspeyres per worker for Oman
RGDPLWOMA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
49,871.11
Year-over-Year Change
2.01%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per worker in Oman. It provides insights into the productivity and relative wealth of the Omani 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
The PPP-converted GDP per worker is a key indicator of economic development and living standards. It adjusts GDP to account for differences in purchasing power across countries, allowing for more accurate cross-country comparisons of worker productivity and income levels.
Methodology
The data is calculated by the Federal Reserve using GDP and population statistics from international sources.
Historical Context
This trend is widely used by economists and policymakers to evaluate Oman's economic performance relative to other nations.
Key Facts
- Oman's PPP-converted GDP per worker was $57,301 in 2021.
- This represents a 2.1% annual increase from 2020.
- Oman ranks 25th globally for PPP-converted 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 Oman. It provides insights into the productivity and relative wealth of the Omani workforce.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per worker is a key indicator of economic development and living standards, allowing for more accurate cross-country comparisons of worker productivity and income levels.
Q: How is this data collected or calculated?
A: The data is calculated by the Federal Reserve using GDP and population statistics from international sources.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists and policymakers to evaluate Oman's economic performance relative to other nations.
Q: Are there update delays or limitations?
A: The data is updated annually, with a potential delay of several months.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per worker for Oman (RGDPLWOMA627NUPN), retrieved from FRED.