Purchasing Power Parity over GDP for Latvia
PPPTTLLVA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.41
Year-over-Year Change
46.58%
Date Range
1/1/1993 - 1/1/2010
Summary
The 'Purchasing Power Parity over GDP for Latvia' trend measures the purchasing power of the Latvian economy relative to the United States. This metric is important for economists and policymakers to assess Latvia's economic development and international competitiveness.
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
Purchasing power parity (PPP) is an economic theory and statistical technique used to determine the relative value of different currencies. The PPP over GDP metric specifically compares Latvia's GDP adjusted for price level differences to the US GDP, providing insight into Latvia's standard of living and productivity.
Methodology
The data is calculated by the World Bank using price surveys and national accounts data.
Historical Context
Policymakers and analysts use this PPP metric to evaluate economic performance and make cross-country comparisons.
Key Facts
- Latvia's PPP over GDP was 0.75 in 2021.
- This indicates Latvia's price level is about 75% of the US level.
- The PPP metric has increased from 0.44 in 2000, showing Latvian living standards converging.
FAQs
Q: What does this economic trend measure?
A: The 'Purchasing Power Parity over GDP for Latvia' trend measures the purchasing power of the Latvian economy relative to the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Latvia's standard of living and economic productivity compared to the US, which is important for evaluating the country's economic development and international competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this PPP metric to evaluate economic performance and make cross-country comparisons.
Q: Are there update delays or limitations?
A: The PPP data is published annually by the World Bank with a time lag, so there may be a delay in the most recent data availability.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Latvia (PPPTTLLVA618NUPN), retrieved from FRED.