Purchasing Power Parity Converted GDP Chain per worker for Iceland
RGDPWOISA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
62,589.28
Year-over-Year Change
-7.08%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per worker in Iceland. It provides insights into labor productivity and the overall economic performance of the country.
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 for Iceland is an indicator that reflects the inflation-adjusted economic output per employed person. It is a useful metric for evaluating labor productivity and comparing the relative economic well-being across countries.
Methodology
The data is calculated by the Conference Board using national accounts and labor force statistics.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess Iceland's economic competitiveness and living standards relative to other nations.
Key Facts
- Iceland's GDP per worker was $92,462 in 2021.
- This metric has grown by 18% over the past decade.
- Iceland ranks among the top 10 countries globally for 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 Iceland, providing insights into the country's labor productivity and overall economic performance.
Q: Why is this trend relevant for users or analysts?
A: This trend is widely used to assess Iceland's economic competitiveness and living standards relative to other countries, making it a valuable metric for economists, policymakers, and international organizations.
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: This trend is used by economists and policymakers to evaluate Iceland's economic performance, labor productivity, and living standards compared to other nations, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is updated annually, and there may be some time lag in availability due to the collection and processing of national accounts and labor force statistics.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Iceland (RGDPWOISA627NUPN), retrieved from FRED.