Constant GDP per capita for Benin
NYGDPPCAPKDBEN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,324.78
Year-over-Year Change
40.35%
Date Range
1/1/1960 - 1/1/2024
Summary
The 'Constant GDP per capita for Benin' measures the total economic output per person in Benin, adjusted for inflation. It is a key indicator of a country's economic development and living standards.
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
This metric represents the Gross Domestic Product (GDP) divided by the total population in Benin, with the GDP figure adjusted for changes in prices over time. It provides insight into the productivity and purchasing power of the average citizen.
Methodology
The data is calculated by the World Bank using national accounts and population data.
Historical Context
Constant GDP per capita is widely used by economists, policymakers, and international organizations to assess a country's economic progress and living conditions.
Key Facts
- Benin's constant GDP per capita was $916 in 2021.
- GDP per capita has grown by over 50% in Benin since 2000.
- Benin is classified as a low-income country by the World Bank.
FAQs
Q: What does this economic trend measure?
A: The 'Constant GDP per capita for Benin' measures the total economic output per person in Benin, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: Constant GDP per capita is a key indicator of a country's economic development and living standards, providing insight into the productivity and purchasing power of the average citizen.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and population data.
Q: How is this trend used in economic policy?
A: Constant GDP per capita is widely used by economists, policymakers, and international organizations to assess a country's economic progress and living conditions.
Q: Are there update delays or limitations?
A: The data is typically updated annually by the World Bank, with some potential delays in data reporting and publication.
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Citation
U.S. Federal Reserve, Constant GDP per capita for Benin (NYGDPPCAPKDBEN), retrieved from FRED.