Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Albania
RGDPLPALA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,616.63
Year-over-Year Change
123.59%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Albania, derived from growth rates of consumption, government consumption, and investment.
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 is a key metric for comparing living standards and economic productivity across countries. It accounts for differences in cost of living and purchasing power, providing a more accurate assessment of relative wealth than nominal GDP per capita.
Methodology
The data is calculated by the World Bank using the Laspeyres method.
Historical Context
This indicator is widely used by economists, policymakers, and international organizations to analyze economic development and make cross-country comparisons.
Key Facts
- Albania's PPP-converted GDP per capita was $15,302 in 2021.
- This metric has grown by an average of 3.7% annually over the past decade.
- Albania's PPP-adjusted GDP per capita is around 36% of the OECD average.
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 Albania, accounting for differences in cost of living and purchasing power.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita is a key metric for comparing living standards and economic productivity across countries, providing a more accurate assessment of relative wealth than nominal GDP per capita.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Laspeyres method.
Q: How is this trend used in economic policy?
A: This indicator is widely used by economists, policymakers, and international organizations to analyze economic development and make cross-country comparisons.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and methodological decisions of the World Bank.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Albania (RGDPLPALA625NUPN), retrieved from FRED.