Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Kuwait
PC2GDPKWA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
51,946.52
Year-over-Year Change
167.69%
Date Range
1/1/1986 - 1/1/2010
Summary
This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Kuwait, providing a standardized measure of economic output 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
The PPP-converted GDP per capita metric adjusts standard GDP figures to account for differences in price levels across countries, offering a more accurate comparison of real economic activity and living standards.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to derive PPP conversion factors.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to analyze and compare economic development across countries.
Key Facts
- Kuwait had a PPP-adjusted GDP per capita of $58,193 in 2021.
- This places Kuwait among the highest-income countries globally.
- PPP adjustments are critical for accurately comparing living standards across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Kuwait, providing a standardized metric of economic output and living standards.
Q: Why is this trend relevant for users or analysts?
A: This PPP-adjusted GDP per capita metric allows for more accurate cross-country comparisons of economic development and living standards, which is crucial for policymakers, international organizations, and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to derive purchasing power parity conversion factors.
Q: How is this trend used in economic policy?
A: This PPP-adjusted GDP per capita metric is widely used by economists, policymakers, and international organizations to analyze and compare economic development and living standards across countries.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with potential delays of up to 2 years. Limitations include the challenges of accurately measuring price levels across diverse economies.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Kuwait (PC2GDPKWA620NUPN), retrieved from FRED.