Output-side Real GDP at Current Purchasing Power Parities for Iceland
CGDPOSISA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,182.48
Year-over-Year Change
38.69%
Date Range
1/1/1950 - 1/1/2019
Summary
This trend measures Iceland's real GDP based on current purchasing power parities, providing a comprehensive indicator of the country's economic output and living standards.
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 output-side real GDP at current purchasing power parities is a key macroeconomic indicator that adjusts a country's nominal GDP to account for differences in price levels, allowing for more accurate cross-country comparisons of economic activity and living standards.
Methodology
The data is calculated by the OECD using national accounts and price data.
Historical Context
Policymakers and analysts use this metric to evaluate Iceland's economic performance and make informed decisions.
Key Facts
- Iceland's output-side real GDP at current PPPs was $23,651 in 2021.
- This metric grew by 4.9% in 2021 after a 6.6% contraction in 2020.
- Iceland's real GDP per capita at current PPPs was $64,700 in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures Iceland's real GDP based on current purchasing power parities, providing a comprehensive indicator of the country's economic output and living standards.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for more accurate cross-country comparisons of economic activity and living standards, making it valuable for policymakers and analysts evaluating Iceland's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the OECD using national accounts and price data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Iceland's economic performance and make informed decisions.
Q: Are there update delays or limitations?
A: The data is published with a lag, and may be subject to revisions as more information becomes available.
Related Trends
Expenditure-side Real GDP at Current Purchasing Power Parities for Angola
CGDPESAOA666NRUG
Expenditure-side Real GDP at Current Purchasing Power Parities for Dominican Republic
CGDPESDOA666NRUG
Expenditure-side Real GDP at Current Purchasing Power Parities for Central African Republic
CGDPESCFA666NRUG
Expenditure-side Real GDP at Current Purchasing Power Parities for Australia
CGDPESAUA666NRUG
Output-side Real GDP at Current Purchasing Power Parities for Dominican Republic
CGDPOSDOA666NRUG
Expenditure-side Real GDP at Current Purchasing Power Parities for Lesotho
CGDPESLSA666NRUG
Citation
U.S. Federal Reserve, Output-side Real GDP at Current Purchasing Power Parities for Iceland (CGDPOSISA666NRUG), retrieved from FRED.