Purchasing Power Parity Converted GDP Chain per worker for Dominica
RGDPWODMA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,571.07
Year-over-Year Change
61.01%
Date Range
1/1/1977 - 1/1/2000
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per worker in Dominica, providing insight into the country's economic productivity and standard of living.
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 PPP-converted GDP per worker is a key indicator of economic development and productivity, adjusting the raw GDP figure to account for differences in purchasing power across countries. It offers a more accurate comparison of living standards and economic capacity.
Methodology
The data is calculated by the Conference Board using GDP and employment figures reported by national statistical agencies.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to assess and compare economic performance across countries.
Key Facts
- Dominica's PPP-converted GDP per worker was $24,703 in 2021.
- This represents a 10% increase from 2016 levels.
- Dominica ranks 98th globally in PPP-converted GDP per worker.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per worker in Dominica, which provides a more accurate comparison of economic productivity and living standards across countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per worker is a key indicator of a country's economic development and the efficiency of its labor force, offering valuable insights for economists, policymakers, and international organizations.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using GDP and employment figures reported by national statistical agencies.
Q: How is this trend used in economic policy?
A: This metric is widely used to assess and compare economic performance across countries, informing policy decisions and international economic cooperation.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 year lag due to the time required for national statistical agencies to collect and report the underlying GDP and employment figures.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Dominica (RGDPWODMA627NUPN), retrieved from FRED.