Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Romania
RGDPTHROA630NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.09
Year-over-Year Change
84.41%
Date Range
1/1/1989 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per hour worked by employees in Romania. It provides insights into labor productivity and the overall economic performance of 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 Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Romania is an important economic indicator that combines measures of output, labor, and price levels. It allows for cross-country comparisons of labor productivity and standard of living.
Methodology
The data is calculated by the Conference Board using GDP and labor force statistics from national sources.
Historical Context
This trend is used by economists, policymakers, and international organizations to analyze Romania's economic competitiveness and living standards relative to other countries.
Key Facts
- Romania's GDP per hour worked was $24.34 in 2020.
- Romania's labor productivity ranked 37th globally in 2020.
- Romania's PPP-adjusted GDP per capita was $34,275 in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per hour worked by employees in Romania. It provides insights into the country's labor productivity and overall economic performance.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for comparing Romania's economic competitiveness and living standards to other countries. It allows analysts to assess the country's labor productivity and overall economic efficiency.
Q: How is this data collected or calculated?
A: The data is calculated by the Conference Board using GDP and labor force statistics from national sources in Romania.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and international organizations to analyze Romania's economic performance and competitiveness. It informs decisions related to labor market policies, investment, and trade.
Q: Are there update delays or limitations?
A: The data is published annually with a lag of about one year. There may be limitations in cross-country comparisons due to differences in data collection and methodology.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Laspeyres per hour worked by employees for Romania (RGDPTHROA630NUPN), retrieved from FRED.