Government Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Latvia
KGPPPGLVA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.91
Year-over-Year Change
-38.00%
Date Range
1/1/1993 - 1/1/2010
Summary
The Government Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Latvia measures the share of a country's total economic output allocated to government spending. This metric is important for economists and policymakers to assess a nation's fiscal policy and economic health.
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 trend represents the percentage of Latvia's GDP that is consumed by government spending, adjusted for differences in purchasing power. It provides insight into the size and role of the public sector within the Latvian economy.
Methodology
The data is collected and calculated by the World Bank using national accounts and purchasing power parity conversion factors.
Historical Context
This metric is widely used by economists, analysts, and policymakers to evaluate a country's fiscal position and the government's influence on economic performance.
Key Facts
- Latvia's government consumption share of GDP was 19.6% in 2021.
- This metric has declined from a high of 22.2% in 2009.
- Government spending accounts for a smaller portion of Latvia's economy compared to the EU average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the share of Latvia's total economic output that is consumed by government spending, adjusted for differences in purchasing power.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the size and role of the public sector within the Latvian economy, which is useful for evaluating fiscal policy and economic performance.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and purchasing power parity conversion factors.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, analysts, and policymakers to evaluate a country's fiscal position and the government's influence on economic performance.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may be subject to revisions as more complete information becomes available.
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Citation
U.S. Federal Reserve, Government Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Latvia (KGPPPGLVA156NUPN), retrieved from FRED.