Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for United Kingdom
PC2GDPGBA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,669.18
Year-over-Year Change
61.25%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the purchasing power parity (PPP) adjusted GDP per capita for the United Kingdom. It provides insight into the country's economic development and standard of living.
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 total economic output of the UK to account for differences in price levels, allowing for more accurate cross-country comparisons. It is a key statistic used by economists and policymakers to evaluate economic performance and living standards.
Methodology
The data is calculated based on GDP and population figures from national accounts, using internationally standardized PPP conversion factors.
Historical Context
This trend is widely referenced by international institutions, governments, and analysts to assess the UK's economic position relative to other advanced economies.
Key Facts
- The UK's PPP-adjusted GDP per capita was $47,301 in 2021.
- The UK ranks 13th globally in PPP-adjusted GDP per capita.
- PPP-adjusted GDP provides a more accurate picture of living standards than nominal GDP.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power parity (PPP) adjusted GDP per capita for the United Kingdom. It provides insight into the country's economic development and standard of living.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita metric is a key statistic used by economists and policymakers to evaluate economic performance and living standards across countries.
Q: How is this data collected or calculated?
A: The data is calculated based on GDP and population figures from national accounts, using internationally standardized PPP conversion factors.
Q: How is this trend used in economic policy?
A: This trend is widely referenced by international institutions, governments, and analysts to assess the UK's economic position relative to other advanced economies.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of 1-2 years due to the time required to collect and process the necessary national accounts information.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for United Kingdom (PC2GDPGBA620NUPN), retrieved from FRED.