Purchasing Power Parity Converted GDP Laspeyres per worker for Tanzania
RGDPLWTZA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,387.44
Year-over-Year Change
66.99%
Date Range
1/1/1960 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Laspeyres per worker for Tanzania measures the economic productivity of the Tanzanian workforce. This metric is crucial for assessing Tanzania's economic development and competitiveness.
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 economic indicator represents the total economic output of Tanzania, adjusted for differences in purchasing power, divided by the number of workers. It provides insights into the country's labor productivity, which is a key driver of economic growth and living standards.
Methodology
The data is calculated by the University of Groningen using national accounts, population, and employment statistics.
Historical Context
Policymakers and analysts use this metric to evaluate Tanzania's economic performance and competitiveness relative to other countries.
Key Facts
- Tanzania's GDP per worker was $4,149 in 2019.
- This metric has grown by an average of 2.8% per year since 2000.
- Tanzania ranks 107th globally in GDP per worker.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total economic output of Tanzania, adjusted for differences in purchasing power, divided by the number of workers in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Tanzania's labor productivity, which is a key driver of economic growth and living standards. It allows for comparisons of economic competitiveness across countries.
Q: How is this data collected or calculated?
A: The data is calculated by the University of Groningen using national accounts, population, and employment statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Tanzania's economic performance and competitiveness relative to other countries, informing policy decisions and economic strategies.
Q: Are there update delays or limitations?
A: The data is subject to update delays, as it relies on national accounts and employment statistics from Tanzania.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per worker for Tanzania (RGDPLWTZA627NUPN), retrieved from FRED.