Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Grenada
PC2GDPGDA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17,153.38
Year-over-Year Change
59.02%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures Grenada's GDP per capita adjusted for purchasing power parity. It provides insights into the country's relative economic productivity 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) GDP per capita is a metric that compares countries' economic output and living standards by adjusting for differences in price levels. This metric is widely used by economists and policymakers to evaluate cross-country economic performance.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to convert GDP to a common currency and adjust for price level differences.
Historical Context
This PPP-adjusted GDP per capita trend is an important benchmark for assessing Grenada's economic development relative to other countries.
Key Facts
- Grenada's PPP-adjusted GDP per capita was $13,798 in 2021.
- This metric has grown by 23% over the past decade.
- Grenada ranks 97th globally in PPP GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Grenada's GDP per capita adjusted for differences in purchasing power across countries. It provides a more accurate comparison of living standards than unadjusted GDP per capita.
Q: Why is this trend relevant for users or analysts?
A: PPP GDP per capita is a widely used benchmark for evaluating a country's economic development and living standards relative to other nations. It helps inform policymaking and business decisions.
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 to a common currency and adjust for price level differences across countries.
Q: How is this trend used in economic policy?
A: Policymakers and economists use PPP GDP per capita to assess Grenada's economic performance and living standards compared to peers. This informs decisions around economic development, trade, and social policies.
Q: Are there update delays or limitations?
A: The World Bank updates this PPP GDP per capita data annually, with a lag of about two years. There may be revisions to previous years' data as methodologies are refined.
Related Trends
Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for St. Kitts and Nevis
PC2GDPKNA620NUPN
Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Brunei
PC2GDPBNA620NUPN
Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Albania
PPCGDPALA620NUPN
Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for St. Lucia
PCDGDPLCA620NUPN
Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Argentina
PCDGDPARA620NUPN
Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Burundi
PC2GDPBIA620NUPN
Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Grenada (PC2GDPGDA620NUPN), retrieved from FRED.