Purchasing Power Parity Converted GDP Laspeyres per person counted in total employment for Philippines
RGDPTEPHA629NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,880.09
Year-over-Year Change
25.97%
Date Range
1/1/1960 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted real GDP per person employed in the Philippines. It provides insights into labor productivity and living standards in the country.
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 person employed is a key indicator of economic development and productivity. It adjusts the GDP per worker to account for differences in relative prices across countries, allowing for more accurate cross-country comparisons.
Methodology
The data is calculated by the Federal Reserve using GDP and employment figures from the World Bank.
Historical Context
This metric is closely watched by policymakers and economists to evaluate the Philippines' economic progress and competitiveness.
Key Facts
- The Philippines' PPP-adjusted GDP per worker was $13,767 in 2021.
- This metric has grown by an average of 3.5% annually over the past decade.
- High labor productivity is crucial for improving living standards in developing economies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted real GDP per person employed in the Philippines. It provides insights into labor productivity and living standards in the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by policymakers and economists to evaluate the Philippines' economic progress and competitiveness. It allows for more accurate cross-country comparisons of living standards and productivity.
Q: How is this data collected or calculated?
A: The data is calculated by the Federal Reserve using GDP and employment figures from the World Bank.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers and analysts to assess the Philippines' economic development and competitiveness. It informs discussions around labor market policies, productivity improvements, and living standard targets.
Q: Are there update delays or limitations?
A: The data is published with a lag, typically several months after the reference period. Additionally, the PPP conversion process may not fully capture all price differences across regions within the Philippines.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per person counted in total employment for Philippines (RGDPTEPHA629NUPN), retrieved from FRED.