Purchasing Power Parity Converted GDP Chain per worker for Czech Republic
RGDPWOCZA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
46,700.11
Year-over-Year Change
50.13%
Date Range
1/1/1990 - 1/1/2010
Summary
This economic indicator measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per worker in the Czech Republic. It provides insight into the productivity and living standards of the Czech 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 Chain per worker metric evaluates the economic output per employed person in the Czech Republic, adjusted for differences in prices between countries. This data point is useful for cross-country comparisons of worker productivity and standards of living.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using national accounts and labor force statistics.
Historical Context
Policymakers and analysts use this metric to assess the competitiveness and efficiency of the Czech economy relative to other nations.
Key Facts
- The Czech Republic's PPP-adjusted GDP per worker was $58,700 in 2021.
- This metric has grown by over 60% since 2000, indicating rising worker productivity.
- The Czech Republic ranks among the top 30 countries globally for GDP per worker.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per worker in the Czech Republic, providing insight into worker productivity and living standards.
Q: Why is this trend relevant for users or analysts?
A: This metric is useful for cross-country comparisons of worker productivity and standards of living, allowing policymakers and analysts to assess the competitiveness and efficiency of the Czech economy.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using national accounts and labor force statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the competitiveness and efficiency of the Czech economy relative to other nations, informing economic and labor market policies.
Q: Are there update delays or limitations?
A: There may be delays in data availability, and the metric may not fully capture all factors influencing worker productivity and living standards.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Czech Republic (RGDPWOCZA627NUPN), retrieved from FRED.