Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Turkey
PCDGDPTRA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,223.77
Year-over-Year Change
76.23%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted domestic absorption per capita for Turkey. It provides insights into the average standard of living and consumption patterns within the Turkish economy.
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 total expenditures on goods and services by Turkish residents, adjusted for differences in price levels between countries. This data point is a key indicator of economic well-being and living standards.
Methodology
The data is calculated by the World Bank using a multilateral, superlative index approach known as the GEKS-CPDW method.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to compare economic performance and living standards across countries.
Key Facts
- Turkey's Purchasing Power Parity Converted Domestic Absorption Per Capita was $27,305 in 2021.
- This metric has grown by an average of 3.2% per year over the past decade.
- Turkey ranks 25th globally in terms of Purchasing Power Parity Converted Domestic Absorption Per Capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted domestic absorption per capita for Turkey, which represents the total expenditures on goods and services by Turkish residents, adjusted for differences in price levels between countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of economic well-being and living standards within Turkey, allowing for comparisons of consumption patterns and purchasing power across countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a multilateral, superlative index approach known as the GEKS-CPDW method.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international organizations to compare economic performance and living standards across countries, informing policy decisions and economic analysis.
Q: Are there update delays or limitations?
A: The data is typically updated on an annual basis, with some potential for delays in reporting. Users should be aware of the most recent available data when analyzing this trend.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Turkey (PCDGDPTRA620NUPN), retrieved from FRED.