Output-side Real GDP at chained Purchasing Power Parities for Norway
RGDPOSNOA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
396,253.88
Year-over-Year Change
1.25%
Date Range
1/1/1950 - 1/1/2019
Summary
The Output-side Real GDP at chained Purchasing Power Parities for Norway measures the total economic output of Norway, adjusted for inflation and purchasing power differences between countries.
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 indicator provides a standardized, internationally comparable measure of Norway's real economic production. It is a key metric used by economists and policymakers to assess the overall health and growth of the Norwegian economy.
Methodology
The data is calculated by the OECD using expenditure-side national accounts and purchasing power parity exchange rates.
Historical Context
Output-side real GDP is widely used to track economic performance and guide fiscal and monetary policies in Norway and other advanced economies.
Key Facts
- Norway's Output-side Real GDP was $394 billion in 2021.
- Real GDP growth in Norway averaged 2.1% per year from 2000 to 2021.
- Norway's GDP per capita adjusted for purchasing power was $76,400 in 2021.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total value of goods and services produced in Norway, adjusted for differences in purchasing power between countries.
Q: Why is this trend relevant for users or analysts?
A: Output-side real GDP is a key metric used to assess the overall size and growth of the Norwegian economy, enabling international comparisons and informing economic policymaking.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using expenditure-side national accounts and purchasing power parity exchange rates.
Q: How is this trend used in economic policy?
A: Output-side real GDP is widely used by policymakers, economists, and analysts to track economic performance and guide fiscal, monetary, and other economic policies in Norway and other advanced economies.
Q: Are there update delays or limitations?
A: The data is published with a lag of several months, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Output-side Real GDP at chained Purchasing Power Parities for Norway (RGDPOSNOA666NRUG), retrieved from FRED.