Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Mongolia
PC2GDPMNA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,889.06
Year-over-Year Change
149.00%
Date Range
1/1/1970 - 1/1/2010
Summary
This trend measures the purchasing power parity (PPP) converted Gross Domestic Product (GDP) per capita for Mongolia, adjusted using the GEKS-CPDW method and presented in current prices. It provides insights into the overall economic well-being and productivity of the Mongolian population.
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 is a key indicator of a country's standard of living and economic development. It adjusts GDP to account for differences in purchasing power across countries, enabling more accurate international comparisons. The GEKS-CPDW method is a sophisticated approach to calculating PPP that improves upon traditional methods.
Methodology
The data is collected and calculated by the World Bank using established statistical methods.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to evaluate and compare the economic performance of countries.
Key Facts
- Mongolia's PPP-converted GDP per capita was $12,850 in 2021.
- This metric has grown by an average of 4.5% annually over the past decade.
- Mongolia's PPP-converted GDP per capita is around 40% of the global average.
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 Mongolia, adjusted using the GEKS-CPDW method and presented in current prices.
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, enabling more accurate international comparisons than using exchange rates alone.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using established statistical methods.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to evaluate and compare the economic performance of countries.
Q: Are there update delays or limitations?
A: The data is published annually with some delay, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Mongolia (PC2GDPMNA620NUPN), retrieved from FRED.