Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Norway
PGDPUSNOA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
126.61
Year-over-Year Change
31.27%
Date Range
1/1/1950 - 1/1/2010
Summary
This trend measures Norway's purchasing power parity (PPP) converted GDP per capita relative to the United States. It provides insights into the relative economic well-being and productivity of the Norwegian population compared to the U.S.
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 PPP-converted GDP per capita relative to the U.S. is a key metric for evaluating a country's standard of living and economic development in relation to the world's largest economy. It accounts for differences in price levels between countries to enable more accurate cross-country comparisons.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, a widely-used PPP conversion approach.
Historical Context
This metric is closely tracked by economists, policymakers, and international organizations to assess economic performance and competitiveness.
Key Facts
- Norway's GDP per capita is currently over 60% higher than the U.S.
- Norway has been among the world's wealthiest countries by this metric for decades.
- The G-K method accounts for relative price differences across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures Norway's purchasing power parity (PPP) converted GDP per capita relative to the United States. It provides insights into the relative economic well-being and productivity of the Norwegian population compared to the U.S.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely tracked by economists, policymakers, and international organizations to assess economic performance and competitiveness between countries. It enables more accurate cross-country comparisons of living standards and productivity.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, a widely-used PPP conversion approach.
Q: How is this trend used in economic policy?
A: This metric is used by economists, policymakers, and international institutions to evaluate a country's economic development, living standards, and competitiveness relative to other major economies.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates, with potential lags in availability. Limitations include the complexities of accurately measuring price level differences across countries.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Norway (PGDPUSNOA621NUPN), retrieved from FRED.