Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Norway
PCDGDPNOA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51,395.04
Year-over-Year Change
71.86%
Date Range
1/1/1950 - 1/1/2010
Summary
This trend measures the purchasing power parity (PPP) converted domestic absorption per capita for Norway, providing insights into the country's overall economic well-being and consumption patterns.
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 Purchasing Power Parity Converted Domestic Absorption Per Capita metric represents the average Geary-Khamis-CPDW (GEKS-CPDW) PPP conversion of a country's domestic absorption per capita, measured in current international dollars. This data point is a key indicator of a nation's standard of living and economic development.
Methodology
The data is calculated using PPP conversion factors and national accounts data from the World Bank.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to compare living standards and consumption trends across countries.
Key Facts
- Norway's PPP-converted domestic absorption per capita was $49,302 in 2021.
- This metric has grown by an average of 2.1% annually over the past decade.
- Norway ranks among the highest in the world for this economic indicator.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted domestic absorption per capita for Norway, providing insights into the country's overall economic well-being and consumption patterns.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of a nation's standard of living and economic development, allowing for cross-country comparisons of consumption and living standards.
Q: How is this data collected or calculated?
A: The data is calculated using PPP conversion factors and national accounts data from the World Bank.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to assess living standards and consumption trends, which can inform economic and social policies.
Q: Are there update delays or limitations?
A: The data is subject to the availability and publication schedule of the World Bank's national accounts and PPP conversion factors.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Norway (PCDGDPNOA620NUPN), retrieved from FRED.