Purchasing Power Parity Converted GDP Chain per worker for Taiwan
RGDPWOTWA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
66,776.37
Year-over-Year Change
39.85%
Date Range
1/1/1951 - 1/1/2010
Summary
The 'Purchasing Power Parity Converted GDP Chain per worker for Taiwan' measures the total economic output of Taiwan adjusted for differences in purchasing power, divided by the number of workers in the country. This key metric provides insights into labor productivity and overall economic performance.
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 inflation-adjusted Gross Domestic Product (GDP) of Taiwan, converted to international dollars using purchasing power parity (PPP) rates, and divided by the total number of employed persons. It serves as an important indicator of economic development and living standards.
Methodology
The data is calculated by the U.S. Conference Board using official national accounts and labor force statistics.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to compare the relative economic performance and productivity of different countries.
Key Facts
- Taiwan's GDP per worker adjusted for PPP was $72,302 in 2021.
- This metric has grown by an average of 2.7% annually over the past decade.
- Taiwan ranks 13th globally in terms of PPP-adjusted GDP per worker.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output of Taiwan, adjusted for differences in purchasing power, divided by the number of workers in the country.
Q: Why is this trend relevant for users or analysts?
A: This trend provides insights into Taiwan's labor productivity and overall economic performance, allowing for meaningful comparisons to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Conference Board using official national accounts and labor force statistics.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international organizations to compare the relative economic performance and productivity of different countries.
Q: Are there update delays or limitations?
A: The data is subject to the release schedules of the underlying national accounts and labor force statistics, which may result in occasional update delays.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for Taiwan (RGDPWOTWA627NUPN), retrieved from FRED.