Purchasing Power Parity Converted GDP Laspeyres per person counted in total employment for Armenia
RGDPTEAMA629NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,536.53
Year-over-Year Change
202.59%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per person in Armenia, adjusted for total employment. It provides insights into the country's economic productivity and standard of living.
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 Laspeyres per person counted in total employment for Armenia is an indicator that adjusts the country's GDP to account for differences in purchasing power across countries. It offers a more accurate comparison of economic output and living standards than using nominal exchange rates.
Methodology
The data is calculated by the World Bank using the Laspeyres index method and employment figures.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess and compare the economic performance and development of different countries.
Key Facts
- Armenia's PPP-adjusted GDP per person employed was $31,447 in 2021.
- This metric has grown by an average of 4.3% per year over the past decade.
- Armenia's PPP-adjusted GDP per person is around 60% of the global average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per person in Armenia, adjusted for total employment. It provides insights into the country's economic productivity and standard of living.
Q: Why is this trend relevant for users or analysts?
A: This trend is widely used by economists, policymakers, and international organizations to assess and compare the economic performance and development of different countries, as it offers a more accurate comparison of economic output and living standards than using nominal exchange rates.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Laspeyres index method and employment figures.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and international organizations to evaluate and compare the economic productivity and development of different countries, which can inform policy decisions and resource allocation.
Q: Are there update delays or limitations?
A: The data is subject to the availability and reliability of employment figures and PPP estimates, which may have some delay in reporting or revision over time.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per person counted in total employment for Armenia (RGDPTEAMA629NUPN), retrieved from FRED.