Purchasing Power Parity Converted GDP Chain per worker for Ethiopia
RGDPWOETA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,384.03
Year-over-Year Change
51.90%
Date Range
1/1/1950 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Chain per worker for Ethiopia measures the productivity and economic output per employed person in the country, adjusted for differences in purchasing power.
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
This metric provides a standardized way to compare economic productivity across countries by accounting for variations in domestic price levels. It is a useful indicator for evaluating Ethiopia's economic development and competitiveness.
Methodology
The data is calculated by the Conference Board using national accounts and labor force statistics.
Historical Context
Policymakers and analysts use this indicator to gauge Ethiopia's economic performance and living standards relative to other nations.
Key Facts
- Ethiopia's GDP per worker was $7,462 in 2021.
- This metric has grown by 63% over the past decade.
- Ethiopia ranks 143rd globally on this indicator.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total economic output of Ethiopia, adjusted for differences in domestic price levels, divided by the number of employed workers in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a standardized way to assess Ethiopia's economic productivity and living standards relative to other nations, which is useful for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using national accounts and labor force statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to gauge Ethiopia's economic performance and competitiveness, which can inform decisions around economic development, trade, and investment.
Q: Are there update delays or limitations?
A: There can be lags of up to a year or more in the availability of this data due to the time required to collect and process the underlying national accounts and labor force statistics.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Ethiopia (RGDPWOETA627NUPN), retrieved from FRED.