Purchasing Power Parity Converted GDP Chain per worker for South Africa
RGDPWOZAA627NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,678.94
Year-over-Year Change
24.93%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Purchasing Power Parity Converted GDP Chain per worker for South Africa' measures the country's economic output per employed person, adjusted for differences in purchasing power across countries.
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 metric provides insights into South Africa's labor productivity and standard of living compared to other nations. It is a key indicator used by economists and policymakers to assess the relative strength and development of the South African economy.
Methodology
The data is calculated by the University of Groningen based on GDP and employment figures from national statistics agencies.
Historical Context
Trends in this metric are closely monitored by investors, international organizations, and South African officials to guide economic and labor market policies.
Key Facts
- South Africa's GDP per worker was $24,127 in 2021.
- The country's labor productivity has grown by 36% since 2000.
- South Africa ranks 79th globally on this metric, behind peers like Brazil and Mexico.
FAQs
Q: What does this economic trend measure?
A: This metric measures South Africa's real gross domestic product (GDP) per employed person, adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into South Africa's labor productivity and standard of living compared to other nations, which is crucial for economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is calculated by the University of Groningen based on GDP and employment figures from South Africa's national statistics agency.
Q: How is this trend used in economic policy?
A: Trends in this metric are closely monitored by investors, international organizations, and South African officials to guide economic and labor market policies.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of approximately one year due to the time required for national statistics compilation.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Chain per worker for South Africa (RGDPWOZAA627NUPN), retrieved from FRED.