Purchasing Power Parity Converted GDP Laspeyres per person counted in total employment for Vietnam
RGDPTEVNA629NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,114.18
Year-over-Year Change
66.93%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per person employed in Vietnam. It provides insights into the productivity and living standards of the Vietnamese 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 PPP-converted GDP per person employed is a key metric for evaluating a country's economic performance and development. It offers a more accurate comparison of living standards across countries by accounting for differences in price levels.
Methodology
The data is calculated by the World Bank using national accounts and employment statistics.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess Vietnam's economic progress and competitiveness.
Key Facts
- Vietnam's PPP-converted GDP per employed person was $10,590 in 2021.
- This metric has grown by over 50% in the past decade, reflecting rapid economic development.
- Vietnam's employment-based productivity exceeds the global average but lags behind many developed economies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per person employed in Vietnam. It provides a more accurate assessment of the Vietnamese workforce's productivity and living standards.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to evaluate Vietnam's economic performance and development progress relative to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and employment statistics.
Q: How is this trend used in economic policy?
A: This trend is used by institutions and analysts to assess Vietnam's economic competitiveness and inform policy decisions related to investment, trade, and workforce development.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent figures may not reflect the current economic situation.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per person counted in total employment for Vietnam (RGDPTEVNA629NUPN), retrieved from FRED.