Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Norway
PPCGDPNOA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
58,958.65
Year-over-Year Change
92.93%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity-adjusted GDP per capita for Norway, using the Geary-Khamis (G-K) method at current prices. It provides a standardized metric for comparing economic output and living standards across countries.
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 (PPP) conversion adjusts GDP to account for differences in price levels between countries, enabling more accurate cross-country comparisons of economic activity and living standards. The G-K method is a widely-used PPP calculation approach that considers a broad basket of goods and services.
Methodology
The data is collected and calculated by the World Bank using established PPP conversion factors.
Historical Context
This metric is widely referenced by economists, policymakers, and international organizations to evaluate economic development and living standards.
Key Facts
- Norway has one of the highest GDP per capita in the world.
- PPP adjustments account for cost-of-living differences between countries.
- The G-K method is a widely-used approach for calculating PPP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity-adjusted GDP per capita for Norway, using the Geary-Khamis (G-K) method at current prices. It provides a standardized metric for comparing economic output and living standards across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely referenced by economists, policymakers, and international organizations to evaluate economic development and living standards, as it accounts for differences in price levels between countries.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using established PPP conversion factors.
Q: How is this trend used in economic policy?
A: This metric is used by economists, policymakers, and international organizations to assess and compare economic development and living standards across countries.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and methodological approaches of the World Bank.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Norway (PPCGDPNOA620NUPN), retrieved from FRED.