Purchasing Power Parity Converted GDP Chain per worker for Solomon Islands
RGDPWOSBA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,895.07
Year-over-Year Change
13.30%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per worker in the Solomon Islands. It provides insights into the productivity and relative wealth of the Solomon Islands economy.
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 labor productivity. It adjusts the GDP per worker to account for differences in purchasing power across countries, enabling more accurate international comparisons.
Methodology
The data is calculated by the Conference Board using GDP and employment figures from national sources.
Historical Context
Policymakers and economists use this metric to assess the Solomon Islands' economic performance and competitiveness.
Key Facts
- The Solomon Islands' PPP-converted GDP per worker was $4,667 in 2021.
- This represents a 10% increase from the 2020 level of $4,250.
- The Solomon Islands' labor productivity lags behind many other developing economies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per worker in the Solomon Islands. It provides insights into the productivity and relative wealth of the Solomon Islands economy.
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 labor productivity. It enables more accurate international comparisons of economic performance and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using GDP and employment figures from national sources.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess the Solomon Islands' economic performance and competitiveness, informing policy decisions and economic strategies.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and may have a delay in availability compared to some other economic indicators.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Solomon Islands (RGDPWOSBA627NUPN), retrieved from FRED.