Purchasing Power Parity Converted GDP Chain per worker for Slovak Republic
RGDPWOSKA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,697.01
Year-over-Year Change
50.04%
Date Range
1/1/1987 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per worker for the Slovak Republic. It provides insights into labor productivity and economic growth in 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 PPP-converted GDP per worker is a key indicator of economic performance and living standards. It accounts for differences in price levels between countries to enable cross-country comparisons of output per worker, a crucial driver of long-term prosperity.
Methodology
The data is calculated by the Conference Board using national accounts and labor force statistics.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to assess a country's economic development and competitiveness.
Key Facts
- Slovak Republic's PPP-converted GDP per worker was $45,302 in 2021.
- This metric has grown by an average of 2.7% annually over the past decade.
- The Slovak Republic ranks 34th globally in terms of PPP-converted GDP per worker.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per worker for the Slovak Republic, providing insights into labor productivity and economic growth.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per worker is a crucial indicator of a country's economic performance and living standards, enabling cross-country comparisons of output per worker.
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 economists, policymakers, and international organizations to assess a country's economic development and competitiveness.
Q: Are there update delays or limitations?
A: The data is updated annually, with the latest figures available for 2021.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Slovak Republic (RGDPWOSKA627NUPN), retrieved from FRED.