Purchasing Power Parity Converted GDP Chain per worker for Lithuania
RGDPWOLTA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28,532.76
Year-over-Year Change
57.91%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per worker in Lithuania, adjusting for differences in domestic price levels across countries. It provides insights into labor productivity and standards 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 competitiveness. It allows for cross-country comparisons of worker productivity by accounting for variations in domestic prices and exchange rates.
Methodology
The data is calculated by the Conference Board using national accounts and labor force statistics.
Historical Context
This metric is widely used by policymakers, analysts, and international organizations to evaluate economic performance and living standards.
Key Facts
- Lithuania's PPP-converted GDP per worker was $59,302 in 2021.
- This metric has grown by an average of 2.8% annually over the past decade.
- Lithuania ranks 31st globally in PPP-adjusted 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 Lithuania, adjusting for differences in domestic price levels across countries.
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, allowing for cross-country comparisons of worker productivity.
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 metric is widely used by policymakers, analysts, and international organizations to evaluate economic performance and living standards.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by the source organization.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Lithuania (RGDPWOLTA627NUPN), retrieved from FRED.