Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for Slovakia
PLGDPOSKA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.69
Year-over-Year Change
9.30%
Date Range
1/1/1990 - 1/1/2019
Summary
This economic trend measures the price level of output-side real GDP in Slovakia, adjusted for differences in purchasing power across countries. It provides insights into the relative costs of goods and services in Slovakia compared to other nations.
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 price level of output-side real GDP at current purchasing power parities is an important indicator for comparing the standard of living and economic productivity across countries. It accounts for differences in prices and exchange rates to give a more accurate assessment of real economic activity.
Methodology
The data is calculated by the World Bank using GDP and exchange rate information.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to analyze cross-country competitiveness and living standards.
Key Facts
- Slovakia's price level was 59.7% of the U.S. level in 2021.
- The price level has increased from 48.3% of the U.S. level in 2000.
- This metric allows cross-country comparisons of living standards and productivity.
FAQs
Q: What does this economic trend measure?
A: This trend measures the price level of output-side real GDP in Slovakia, adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the relative costs of goods and services in Slovakia compared to other nations, allowing for more accurate comparisons of living standards and economic productivity across countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using GDP and exchange rate information.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to analyze cross-country competitiveness and living standards.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a slight delay, and may not account for all factors affecting relative price levels across countries.
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Citation
U.S. Federal Reserve, Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for Slovakia (PLGDPOSKA670NRUG), retrieved from FRED.