Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Bahamas
PC2GDPBSA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,251.65
Year-over-Year Change
24.58%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for the Bahamas. It provides insights into the standard of living and economic productivity 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 PPP-converted GDP per capita metric adjusts the gross domestic product to account for differences in the cost of living across countries, allowing for more accurate international comparisons. This data is widely used by economists and policymakers to evaluate economic development and living standards.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to convert GDP into a common currency while accounting for price level differences.
Historical Context
This metric is valuable for assessing the Bahamas' economic performance and competitiveness relative to other nations.
Key Facts
- The Bahamas' PPP-adjusted GDP per capita was $31,401 in 2021.
- The country's PPP GDP per capita is higher than the global average.
- This metric has grown steadily over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for the Bahamas, which adjusts the country's gross domestic product to account for differences in the cost of living.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the standard of living and economic productivity of the Bahamas, allowing for more accurate international comparisons than unadjusted GDP per capita.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to convert GDP into a common currency while accounting for price level differences.
Q: How is this trend used in economic policy?
A: This metric is valuable for assessing the Bahamas' economic performance and competitiveness relative to other nations, which can inform policymaking and economic development strategies.
Q: Are there update delays or limitations?
A: There may be delays in the availability of the latest data due to the time required for collection and processing by the World Bank.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Bahamas (PC2GDPBSA620NUPN), retrieved from FRED.