Purchasing Power Parity Converted GDP Chain per worker for Iraq
RGDPWOIQA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,278.02
Year-over-Year Change
19.81%
Date Range
1/1/1970 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Chain per worker for Iraq measures the country's economic productivity and living standards relative to other nations.
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 insights into Iraq's economic development by adjusting its gross domestic product (GDP) to account for differences in purchasing power between countries. It is a valuable indicator for cross-country comparisons and assessing Iraq's economic performance over time.
Methodology
The data is calculated by the Conference Board using GDP figures and employment levels reported by national statistical agencies.
Historical Context
Policymakers and economists use this trend to evaluate Iraq's economic competitiveness and living standards compared to its peers.
Key Facts
- Iraq's GDP per worker was $20,590 in 2021.
- Iraq's productivity lags behind other Middle Eastern economies.
- Purchasing power parity adjustments are critical for accurate international comparisons.
FAQs
Q: What does this economic trend measure?
A: This metric measures Iraq's gross domestic product (GDP) per employed person, adjusted for differences in purchasing power between countries.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into Iraq's economic development and living standards compared to other nations, which is crucial for policymakers and economists.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using GDP figures and employment levels reported by Iraq's national statistical agencies.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this trend to evaluate Iraq's economic competitiveness and living standards relative to its peers, informing policy decisions.
Q: Are there update delays or limitations?
A: The data may have a delay of several months 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 Iraq (RGDPWOIQA627NUPN), retrieved from FRED.