Purchasing Power Parity Converted GDP Laspeyres per worker for South Africa
RGDPLWZAA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,982.10
Year-over-Year Change
26.44%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the purchasing power parity (PPP) converted real GDP per worker in South Africa. It provides insights into the productivity and living standards of the South African 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 Purchasing Power Parity Converted GDP Laspeyres per worker for South Africa is a metric that adjusts the country's GDP per worker to account for differences in domestic price levels compared to the United States. This allows for more accurate cross-country comparisons of economic output and worker productivity.
Methodology
The data is calculated by the Conference Board using GDP and employment figures from national statistical agencies.
Historical Context
This trend is used by economists and policymakers to evaluate South Africa's economic competitiveness and development relative to other nations.
Key Facts
- South Africa's PPP-adjusted GDP per worker was $25,667 in 2021.
- This represents a 25% increase from the 2010 level of $20,517.
- South Africa's worker productivity lags behind advanced economies but exceeds many other emerging markets.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power parity (PPP) converted real GDP per worker in South Africa, providing insights into the productivity and living standards of the country's workforce.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for evaluating South Africa's economic competitiveness and development relative to other nations, as it allows for more accurate cross-country comparisons of worker productivity and living standards.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using GDP and employment figures from national statistical agencies.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to assess South Africa's economic performance and competitiveness, which can inform policy decisions related to productivity, investment, and workforce development.
Q: Are there update delays or limitations?
A: There may be delays in data availability due to the time required for national statistical agencies to collect and report employment and GDP figures.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per worker for South Africa (RGDPLWZAA627NUPN), retrieved from FRED.