Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Latvia
RGDPLPLVA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12,425.17
Year-over-Year Change
73.54%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic indicator measures the purchasing power-adjusted GDP per capita for Latvia, providing insights into the country's economic development and living standards.
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 Purchasing Power Parity Converted GDP Per Capita (Laspeyres) metric adjusts Latvia's GDP per capita to account for differences in the cost of living, allowing for more accurate cross-country comparisons of economic well-being.
Methodology
The data is calculated using growth rates of consumption, government consumption, and investment.
Historical Context
This trend is widely used by economists and policymakers to evaluate and compare the economic performance and living standards of different countries.
Key Facts
- Latvia's GDP per capita was $33,585 in 2021.
- The country's GDP per capita has grown by an average of 3.4% annually over the past decade.
- Latvia's purchasing power-adjusted GDP per capita is higher than many other Eastern European economies.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Latvia's GDP per capita adjusted for differences in purchasing power, providing a more accurate comparison of economic well-being across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to evaluate and compare the economic performance and living standards of different countries.
Q: How is this data collected or calculated?
A: The data is calculated using growth rates of consumption, government consumption, and investment.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Latvia's economic development and living standards relative to other countries, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Federal Reserve, with minimal delays. However, the metric may be subject to revisions based on changes in underlying data sources.
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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 Latvia (RGDPLPLVA625NUPN), retrieved from FRED.