Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Lithuania
RGDPCHLTA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,136.10
Year-over-Year Change
62.38%
Date Range
1/1/1993 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Lithuania measures the total economic output of Lithuania adjusted for differences in purchasing power across countries. This metric is crucial for international economic comparisons and policy analysis.
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
This series represents the gross domestic product (GDP) per person in Lithuania, converted to international dollars using purchasing power parity rates. It allows for more accurate comparisons of living standards and productivity across nations by accounting for price level differences.
Methodology
The data is calculated by the World Bank using national accounts and purchasing power parity (PPP) information.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to assess economic development and living standards globally.
Key Facts
- Lithuania's GDP per capita in purchasing power parity terms was $34,590 in 2021.
- Lithuania's GDP per capita has grown by over 300% since the early 1990s.
- Lithuania ranks 39th globally in terms of purchasing power parity GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output of Lithuania, adjusted for differences in purchasing power across countries. It provides a more accurate comparison of living standards and productivity than unadjusted GDP per capita.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for international economic comparisons and policy analysis, as it allows for a more accurate assessment of a country's living standards and productivity relative to other nations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and purchasing power parity (PPP) information.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to assess economic development and living standards globally, informing policy decisions and international comparisons.
Q: Are there update delays or limitations?
A: The data is typically updated annually, with a slight delay due to the time required to collect and process the necessary information.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Lithuania (RGDPCHLTA625NUPN), retrieved from FRED.