Purchasing Power Parity Converted GDP Laspeyres per person counted in total employment for Georgia
RGDPTEGEA629NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
13,395.45
Year-over-Year Change
94.10%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per person employed in Georgia. It provides insights into the productivity and living standards of the Georgian workforce.
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 Georgia is an important indicator of economic development and worker productivity. It adjusts the GDP per capita metric to account for differences in purchasing power across countries, offering a more accurate comparison of living standards.
Methodology
The data is calculated by the World Bank using a Laspeyres index formula and national accounts data.
Historical Context
This metric is widely used by economists and policymakers to evaluate the relative strength of the Georgian economy and inform economic policies.
Key Facts
- Georgia's PPP-adjusted GDP per person employed was $27,770 in 2021.
- This metric has grown by 65% over the past decade in Georgia.
- The ratio of PPP-adjusted GDP per worker to nominal GDP per worker is a key measure of a country's price level.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per person employed in Georgia, providing insights into the productivity and living standards of the Georgian workforce.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to evaluate the relative strength of the Georgian economy and inform economic policies.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a Laspeyres index formula and national accounts data.
Q: How is this trend used in economic policy?
A: This metric is used by markets, economists, and institutions to assess the productivity and living standards of the Georgian workforce, informing economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per person counted in total employment for Georgia (RGDPTEGEA629NUPN), retrieved from FRED.