Government Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Somalia
KGPPPGSOA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
12.76
Year-over-Year Change
-6.78%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the government consumption share of GDP per capita in Somalia, adjusted for purchasing power parity. It provides insights into the role of government spending in the Somali economy.
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 government consumption share of GDP per capita is a key indicator of the size and influence of the public sector in a country's economy. This metric is particularly relevant for analyzing economic policy and the balance between government and private activity.
Methodology
The data is calculated by the World Bank using national accounts and purchasing power parity conversion factors.
Historical Context
Policymakers and analysts use this indicator to assess fiscal policy, public service provision, and the overall economic structure of Somalia.
Key Facts
- The government consumption share of GDP per capita in Somalia was 7.31% in 2020.
- Somalia's government consumption share has remained relatively stable over the past decade.
- Compared to other African countries, Somalia has a relatively low government consumption share of GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the share of government consumption in Somalia's GDP per capita, adjusted for purchasing power parity. It reflects the relative size of the public sector in the Somali economy.
Q: Why is this trend relevant for users or analysts?
A: The government consumption share of GDP per capita is an important indicator for understanding the role of the public sector, fiscal policy, and the overall economic structure of a country like Somalia.
Q: How is this data collected or calculated?
A: The World Bank calculates this indicator using national accounts data and purchasing power parity conversion factors.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess the size of the public sector, evaluate fiscal policy, and understand the balance between government and private activity in the Somali economy.
Q: Are there update delays or limitations?
A: The data may have some update delays due to the challenges of data collection in Somalia, but it provides a reliable long-term perspective on government consumption trends.
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Citation
U.S. Federal Reserve, Government Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Somalia (KGPPPGSOA156NUPN), retrieved from FRED.