Purchasing Power Parity Converted GDP Chain per worker for Tonga
RGDPWOTOA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,769.70
Year-over-Year Change
5.05%
Date Range
1/1/1980 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Chain per worker for Tonga measures the country's economic productivity and living standards adjusted for differences in purchasing power.
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 indicator represents the inflation-adjusted Gross Domestic Product per employed person in Tonga, converted to international dollars using purchasing power parity rates. It provides a standardized measure of economic output that accounts for cost-of-living differences across countries.
Methodology
The data is calculated by the University of Groningen's Maddison Project Database.
Historical Context
This metric is widely used by economists and policymakers to compare living standards and productivity across nations.
Key Facts
- Tonga's GDP per worker was $13,206 in 2019.
- GDP per worker has grown by 42% in Tonga since 1990.
- Tonga ranks 97th globally in GDP per worker.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Tonga's GDP per employed person, adjusted for differences in purchasing power across countries. It provides a standardized metric of economic productivity and living standards.
Q: Why is this trend relevant for users or analysts?
A: This metric enables meaningful international comparisons of economic output and living standards, which is crucial for economists, policymakers, and investors analyzing global economic conditions.
Q: How is this data collected or calculated?
A: The data is calculated by the University of Groningen's Maddison Project Database using purchasing power parity conversion factors.
Q: How is this trend used in economic policy?
A: Policymakers and institutions like the IMF use this metric to assess a country's economic performance, competitiveness, and living standards relative to other nations, informing economic, trade, and development policies.
Q: Are there update delays or limitations?
A: There may be lags of 1-2 years in data availability, as the purchasing power parity conversion factors are updated periodically. Additionally, the accuracy depends on the underlying economic data for Tonga.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Tonga (RGDPWOTOA627NUPN), retrieved from FRED.