Output-side Real GDP at Current Purchasing Power Parities for Sierra Leone
CGDPOSSLA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,754.48
Year-over-Year Change
122.79%
Date Range
1/1/1961 - 1/1/2019
Summary
This economic indicator measures the real Gross Domestic Product (GDP) of Sierra Leone adjusted for purchasing power parity (PPP), providing a more accurate comparison of economic output across countries.
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 Output-side Real GDP at Current Purchasing Power Parities for Sierra Leone is a measure of the country's total economic output, adjusted to account for differences in the cost of living and purchasing power between Sierra Leone and other countries. This metric allows for more meaningful international comparisons of economic activity and development.
Methodology
The data is calculated by the World Bank using national accounts data and PPP exchange rates.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess Sierra Leone's economic performance and living standards relative to other nations.
Key Facts
- Sierra Leone's Output-side Real GDP was $8.71 billion in 2021.
- This metric has grown by an average of 3.4% per year over the past decade.
- Sierra Leone's GDP per capita on a PPP basis was $1,194 in 2021.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the real Gross Domestic Product (GDP) of Sierra Leone, adjusted for differences in purchasing power across countries using Purchasing Power Parity (PPP) exchange rates.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for more accurate comparisons of economic output and living standards between Sierra Leone and other nations, as it accounts for variations in the cost of goods and services.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts data and PPP exchange rates.
Q: How is this trend used in economic policy?
A: Economists, policymakers, and international organizations use this indicator to assess Sierra Leone's economic performance and development relative to other countries, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Output-side Real GDP at Current Purchasing Power Parities for Sierra Leone (CGDPOSSLA666NRUG), retrieved from FRED.