Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Macedonia
RGDPLPMKA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,626.39
Year-over-Year Change
34.83%
Date Range
1/1/1990 - 1/1/2010
Summary
This trend measures the purchasing power parity (PPP) adjusted GDP per capita for Macedonia, derived from growth rates of consumption, government consumption, and investment. It provides insight 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 PPP-converted GDP per capita metric adjusts for differences in price levels between countries, allowing for more accurate comparisons of living standards and economic well-being. This series uses the Laspeyres method to calculate the PPP adjustments.
Methodology
The data is collected and calculated by the World Bank using a combination of national accounts and price survey information.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess a country's economic performance and progress.
Key Facts
- Macedonia's PPP-adjusted GDP per capita was $15,590 in 2021.
- The country's PPP-adjusted GDP per capita has grown by over 50% since 2000.
- Macedonia ranks in the upper-middle income group globally by this metric.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) adjusted GDP per capita for Macedonia, providing a more accurate comparison of living standards and economic well-being across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and international organizations to assess a country's economic performance and progress relative to others.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using a combination of national accounts and price survey information.
Q: How is this trend used in economic policy?
A: This PPP-adjusted GDP per capita trend is used by policymakers, international institutions, and analysts to evaluate a country's economic development and living standards, informing policy decisions.
Q: Are there update delays or limitations?
A: The data may have some update delays, as it relies on the collection and processing of national accounts and price survey information by statistical agencies.
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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 Macedonia (RGDPLPMKA625NUPN), retrieved from FRED.