Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Laos
PC2GDPLAA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,410.25
Year-over-Year Change
194.92%
Date Range
1/1/1970 - 1/1/2010
Summary
This trend measures the purchasing power parity (PPP) converted GDP per capita for Laos, providing a more accurate comparison of living standards across countries.
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 adjusts a country's GDP to account for differences in the cost of living, allowing for better cross-country comparisons of economic welfare and living standards.
Methodology
The data is calculated by the World Bank using the Geary-Khamis-Elteto-Koves-Szulc (GEKS-CPDW) method.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to analyze and compare economic development across countries.
Key Facts
- Laos' PPP-adjusted GDP per capita was $7,585 in 2021.
- Laos' PPP-adjusted GDP per capita has grown by 5.3% annually since 2000.
- Laos ranks 118th globally in terms of PPP-adjusted GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Laos, providing a more accurate comparison of living standards across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and international organizations to analyze and compare economic development and living standards across countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis-Elteto-Koves-Szulc (GEKS-CPDW) method.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, international organizations, and analysts to compare economic welfare and living standards across countries, informing policy decisions and development strategies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Laos (PC2GDPLAA620NUPN), retrieved from FRED.