Latvia GDP: PPP: 2021 Price: Final Consumption Expenditure: Households and NPISHs

Latvia GDP: PPP: 2021 Price: Final Consumption Expenditure: Households and NPISHs data was reported at 38,697.924 Intl $ mn in 2023. This records a decrease from the previous number of 39,208.653 Intl $ mn for 2022. Latvia GDP: PPP: 2021 Price: Final Consumption Expenditure: Households and NPISHs data is updated yearly, averaging 27,450.897 Intl $ mn from Dec 1995 (Median) to 2023, with 29 observations. The data reached an all-time high of 39,208.653 Intl $ mn in 2022 and a record low of 15,483.441 Intl $ mn in 1995. Latvia GDP: PPP: 2021 Price: Final Consumption Expenditure: Households and NPISHs data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Latvia – Table LV.World Bank.WDI: Gross Domestic Product: Purchasing Power Parity. This indicator provides values for final consumption expenditure expressed in constant international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. Households and NPISHs final consumption expenditure includes expenditure on goods and services by the Household and NPISH sector for the direct satisfaction of human needs or wants, whether individual or collective. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2021. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.;International Comparison Program (ICP), World Bank (WB), uri: https://www.worldbank.org/en/programs/icp/data, note: This information is for ICP’s PPPs utilized in WDI, publisher: International Comparison Program (ICP), date accessed: May 30, 2024, date published: May 30, 2024; The Eurostat PPP Programme, Eurostat (ESTAT), uri: https://ec.europa.eu/eurostat/databrowser/explore/all/all_themes, publisher: Eurostat; The OECD PPP Programme, Organisation for Economic Co-operation and Development (OECD), uri: https://data-explorer.oecd.org/, publisher: OECD; Staff estimates, World Bank (WB); National Accounts data files, Organisation for Economic Co-operation and Development (OECD); World Economic Outlook database, International Monetary Fund (IMF);Gap-filled total;

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