Purchasing Power Parity Converted GDP Chain per worker for Dominican Republic
RGDPWODOA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
23,535.40
Year-over-Year Change
42.45%
Date Range
1/1/1951 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per worker in the Dominican Republic. It provides insights into the productivity and relative wealth of the Dominican 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 PPP-converted GDP per worker is a key indicator of economic development and productivity. It adjusts the raw GDP per worker figure to account for differences in purchasing power across countries, allowing for more accurate cross-country comparisons.
Methodology
The data is calculated by the Conference Board using GDP and employment figures from national sources.
Historical Context
This trend is widely used by economists, policymakers, and investors to evaluate the Dominican Republic's economic performance and competitiveness.
Key Facts
- The Dominican Republic's PPP-converted GDP per worker was $25,301 in 2021.
- This figure has grown by 44% over the past decade.
- The Dominican Republic ranks 74th 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 the Dominican Republic. It provides a standardized metric for evaluating the productivity and relative wealth of the Dominican workforce.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per worker is a key indicator of economic development and competitiveness. It allows for more accurate cross-country comparisons than raw GDP per worker figures, making it valuable for economists, policymakers, and investors analyzing the Dominican Republic's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using GDP and employment figures from national sources in the Dominican Republic.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to assess the Dominican Republic's productivity, competitiveness, and progress in economic development. It informs decisions around labor, investment, and trade policies aimed at improving the country's economic performance.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year. There may also be revisions to historical figures as new data becomes available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Dominican Republic (RGDPWODOA627NUPN), retrieved from FRED.