Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Marshall Islands
PC2GDPMHA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,960.48
Year-over-Year Change
34.19%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures the purchasing power parity-adjusted gross domestic product per capita for the Marshall Islands. 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
Purchasing power parity (PPP) GDP per capita adjusts a country's GDP to account for differences in the cost of living, allowing for more accurate international comparisons of economic output and living standards. This metric is a key statistic used by economists and policymakers to evaluate a country's economic performance and development.
Methodology
The data is collected and calculated by the World Bank using the Geary-Khamis method.
Historical Context
Policymakers use this metric to inform economic and social policies aimed at improving living standards and driving sustainable development.
Key Facts
- The Marshall Islands' PPP GDP per capita was $4,149 in 2021.
- GDP per capita adjusted for PPP is a better measure of living standards than nominal GDP.
- The Marshall Islands' PPP GDP per capita is lower than the global average.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power parity-adjusted gross domestic product per capita for the Marshall Islands, providing insight into the country's economic development and living standards.
Q: Why is this trend relevant for users or analysts?
A: PPP GDP per capita is a key metric used by economists and policymakers to evaluate a country's economic performance and development, as it accounts for differences in the cost of living to allow for more accurate international comparisons.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using the Geary-Khamis method.
Q: How is this trend used in economic policy?
A: Policymakers use this metric to inform economic and social policies aimed at improving living standards and driving sustainable development in the Marshall Islands.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, so there may be a delay of up to a year in the most recent figures being available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Marshall Islands (PC2GDPMHA620NUPN), retrieved from FRED.