Purchasing Power Parity Converted GDP Chain per worker for Macedonia
RGDPWOMKA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
16,619.67
Year-over-Year Change
20.81%
Date Range
1/1/1990 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Chain per worker for Macedonia measures the country's economic productivity per employed person, providing insights into its economic development and growth potential.
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 series represents the real Gross Domestic Product (GDP) per person employed in Macedonia, adjusted for differences in purchasing power across countries. It is a valuable metric used by economists and policymakers to evaluate a nation's economic performance and living standards relative to its workforce.
Methodology
The data is calculated by the Conference Board using GDP and employment statistics from national sources.
Historical Context
This trend is widely used to benchmark Macedonia's economic competitiveness and living standards compared to other countries.
Key Facts
- Macedonia's GDP per worker was $24,789 in 2021.
- The trend has grown by an average of 2.4% annually over the past decade.
- Macedonia ranks 78th globally in GDP per worker based on this metric.
FAQs
Q: What does this economic trend measure?
A: This trend measures Macedonia's real Gross Domestic Product (GDP) per person employed, adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Macedonia's economic productivity and living standards, which are important for evaluating its economic development and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using GDP and employment statistics from national sources.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to benchmark Macedonia's economic performance and living standards compared to other countries, informing economic policies and strategies.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 year lag, and may be subject to revisions by the source.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Macedonia (RGDPWOMKA627NUPN), retrieved from FRED.