Purchasing Power Parity Converted GDP Laspeyres per worker for Slovak Republic
RGDPLWSKA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,444.73
Year-over-Year Change
49.15%
Date Range
1/1/1987 - 1/1/2010
Summary
This economic indicator measures the purchasing power-adjusted GDP per worker in the Slovak Republic, providing insights into labor productivity and economic growth.
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 the Slovak Republic is a measure of economic output per employed person, adjusted for differences in purchasing power across countries. It is a valuable metric for analyzing labor productivity and comparing living standards between nations.
Methodology
The data is calculated by the University of Groningen using national accounts and labor force statistics.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess economic performance and competitiveness.
Key Facts
- The Slovak Republic's GDP per worker, adjusted for purchasing power, was $58,700 in 2021.
- This metric has grown by an average of 2.5% annually over the past decade.
- The Slovak Republic's labor productivity is around 70% of the OECD average.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power-adjusted GDP per worker in the Slovak Republic, providing insights into labor productivity and economic growth.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and international organizations to assess economic performance and competitiveness by comparing living standards and labor productivity between countries.
Q: How is this data collected or calculated?
A: The data is calculated by the University of Groningen using national accounts and labor force statistics.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and international institutions to evaluate the Slovak Republic's economic competitiveness and living standards relative to other countries.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per worker for Slovak Republic (RGDPLWSKA627NUPN), retrieved from FRED.