Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Macedonia
RGDPL2MKA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,658.50
Year-over-Year Change
34.30%
Date Range
1/1/1990 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Macedonia, derived from growth rates of domestic absorption. It provides insights into the country's economic development and living standards relative 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 PPP-converted GDP per capita metric adjusts for differences in price levels between countries, enabling cross-country comparisons of living standards. This time series uses the Laspeyres method to calculate the PPP conversion factor, which relies on domestic absorption growth rates.
Methodology
The data is collected and calculated by the World Bank using established PPP conversion methodologies.
Historical Context
This trend is widely used by economists, policymakers, and international institutions to analyze and compare economic performance across countries.
Key Facts
- Macedonia's PPP-converted GDP per capita was $15,301 in 2021.
- This metric has grown by an average of 2.7% annually over the past decade.
- Macedonia ranks 76th globally in terms of PPP-adjusted GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Macedonia, adjusting for differences in price levels between the country and a global reference.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita metric provides a more accurate comparison of living standards and economic development across countries than using market exchange rates alone.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using established PPP conversion methodologies based on growth rates of domestic absorption.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international institutions to analyze and compare economic performance and living standards across countries.
Q: Are there update delays or limitations?
A: There may be some delays in data availability, as the PPP conversion process requires extensive data collection and analysis. Users should refer to the source for the most up-to-date information and any known limitations.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Macedonia (RGDPL2MKA625NUPN), retrieved from FRED.