Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Lithuania
RGDPTHLTA630NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.78
Year-over-Year Change
65.49%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per hour worked in Lithuania. It provides insights into labor productivity and the cost-of-living adjusted economic output of the country.
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 hour worked by employees for Lithuania is an important indicator of a country's economic performance and labor market conditions. It adjusts the GDP to account for differences in purchasing power, allowing for cross-country comparisons of living standards and productivity.
Methodology
The data is calculated by the OECD based on GDP and labor force statistics.
Historical Context
This trend is used by economists, policymakers, and investors to evaluate Lithuania's economic competitiveness and growth potential.
Key Facts
- Lithuania's PPP-adjusted GDP per hour worked was $33.13 in 2021.
- This indicator has grown by 36% over the past decade in Lithuania.
- Lithuania's labor productivity lags behind the OECD average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per hour worked by employees in Lithuania. It provides a cost-of-living adjusted view of the country's labor productivity and economic output.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for evaluating Lithuania's economic competitiveness and living standards relative to other countries. It helps analysts and policymakers assess the country's productivity and growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD based on official GDP and labor force statistics for Lithuania.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this trend to benchmark Lithuania's productivity and living standards, informing decisions around economic, labor, and social policies.
Q: Are there update delays or limitations?
A: There may be a lag of several months in the availability of the most recent data due to the time required for collection and reporting by statistical agencies.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Lithuania (RGDPTHLTA630NUPN), retrieved from FRED.