Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Eritrea
PC2GDPERA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
798.96
Year-over-Year Change
-3.60%
Date Range
1/1/1992 - 1/1/2010
Summary
This economic trend measures the purchasing power parity-adjusted GDP per capita for Eritrea, which is a key indicator of the 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
Purchasing power parity (PPP) conversion adjusts GDP per capita to account for differences in price levels between countries, providing a more accurate comparison of living standards. The GEKS-CPDW method is a statistical technique used to aggregate individual country PPP estimates.
Methodology
The data is calculated by the World Bank using national accounts and price survey information.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to assess economic performance and living conditions.
Key Facts
- Eritrea's GDP per capita in PPP terms was $1,501 in 2021.
- GDP per capita in PPP is over 3 times higher than the official exchange rate GDP per capita.
- Eritrea ranks 178th out of 194 countries by this metric.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP)-adjusted GDP per capita for Eritrea, which provides a more accurate comparison of living standards across countries than using market exchange rates.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and international organizations to assess a country's economic performance and living conditions in a globally comparable way.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts information and price survey data.
Q: How is this trend used in economic policy?
A: Policymakers and institutions use this PPP-adjusted GDP per capita metric to evaluate economic development, make cross-country comparisons, and inform policy decisions.
Q: Are there update delays or limitations?
A: There may be delays in data availability, as the World Bank relies on national statistical agencies to provide the underlying price and income data.
Related Trends
Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Rwanda
PPCGDPRWA620NUPN
Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Namibia
PPCGDPNAA620NUPN
Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Hungary
PCDGDPHUA620NUPN
Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Benin
PCDGDPBJA620NUPN
Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Marshall Islands
PC2GDPMHA620NUPN
Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Botswana
PPCGDPBWA620NUPN
Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Eritrea (PC2GDPERA620NUPN), retrieved from FRED.