Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Turkey
RGDPTHTRA630NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.83
Year-over-Year Change
58.13%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity-adjusted gross domestic product per hour worked by employees in Turkey. It provides insights into labor productivity and the overall economic development 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 Turkey is a key indicator of economic performance and living standards. It adjusts the GDP per hour worked to account for differences in purchasing power across countries, enabling cross-country comparisons.
Methodology
The data is calculated by the Organisation for Economic Co-operation and Development (OECD) using a Laspeyres index formula and purchasing power parity conversion factors.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to evaluate Turkey's economic competitiveness and productivity.
Key Facts
- Turkey's GDP per hour worked was $25.44 in 2021.
- Turkey's labor productivity has grown by 2.3% annually since 2010.
- Turkey ranks 25th globally in terms of purchasing power parity-adjusted GDP per hour worked.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity-adjusted gross domestic product per hour worked by employees in Turkey. It provides insights into the country's labor productivity and overall economic development.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for evaluating Turkey's economic competitiveness and productivity compared to other countries, as it accounts for differences in purchasing power.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using a Laspeyres index formula and purchasing power parity conversion factors.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and international organizations use this trend to assess Turkey's economic performance and guide policy decisions related to productivity, competitiveness, and living standards.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of around 18 months, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Turkey (RGDPTHTRA630NUPN), retrieved from FRED.