Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Libya
PC2GDPLYA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,993.17
Year-over-Year Change
168.06%
Date Range
1/1/1986 - 1/1/2010
Summary
This economic trend measures Libya's Purchasing Power Parity (PPP) Converted Gross Domestic Product (GDP) Per Capita, which is a key indicator of a country's standard of living and economic development.
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 GDP to account for differences in prices across countries, providing a more accurate comparison of living standards. It is widely used by economists, policymakers, and international organizations to assess a country's economic performance and progress.
Methodology
The data is collected and calculated by the World Bank using the Geary-Khamis (GEKS-CPDW) method.
Historical Context
This trend is important for understanding Libya's economic position relative to other countries and informing policy decisions.
Key Facts
- Libya's PPP Converted GDP Per Capita was $15,301 in 2020.
- This metric has declined from a high of $19,798 in 2010.
- Libya's GDP per capita is higher than the world average but lower than many developed economies.
FAQs
Q: What does this economic trend measure?
A: This trend measures Libya's Purchasing Power Parity (PPP) Converted Gross Domestic Product (GDP) Per Capita, which adjusts GDP to account for differences in prices across countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP Converted GDP Per Capita is a key indicator of a country's standard of living and economic development, allowing for more accurate comparisons between countries.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using the Geary-Khamis (GEKS-CPDW) method.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and international organizations to assess Libya's economic performance and progress, and to inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and may have limitations due to data availability or methodological changes.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Libya (PC2GDPLYA620NUPN), retrieved from FRED.