Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Russia
RGDPL2RUA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15,125.84
Year-over-Year Change
106.71%
Date Range
1/1/1990 - 1/1/2010
Summary
This series measures Russia's per capita gross domestic product (GDP) adjusted for purchasing power parity, using the Laspeyres index method and derived from growth rates of domestic absorption.
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) GDP per capita is an economic indicator that accounts for differences in the cost of living between countries, providing a more accurate comparison of living standards. This Russia-specific series utilizes the Laspeyres index approach, which is a common method for calculating real GDP growth.
Methodology
The data is calculated by the World Bank using growth rates of domestic absorption.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to evaluate economic development and living standards across countries.
Key Facts
- Russia's 2021 PPP-adjusted GDP per capita was $27,957.
- This series dates back to 1990, providing long-term trend data.
- The Laspeyres index method is a widely-used approach for calculating real GDP growth.
FAQs
Q: What does this economic trend measure?
A: This series measures Russia's per capita gross domestic product (GDP) adjusted for purchasing power parity, using the Laspeyres index method and derived from growth rates of domestic absorption.
Q: Why is this trend relevant for users or analysts?
A: Purchasing power parity GDP per capita is a key indicator for evaluating economic development and living standards across countries, providing a more accurate comparison than nominal GDP per capita.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using 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 organizations to assess economic performance and living standards, informing policy decisions.
Q: Are there update delays or limitations?
A: There may be some delays in data availability, as the World Bank collects and publishes this series on an ongoing basis.
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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 Russia (RGDPL2RUA625NUPN), retrieved from FRED.