Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Malawi
PC2GDPMWA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
883.21
Year-over-Year Change
101.83%
Date Range
1/1/1954 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for Malawi, providing a standardized metric for comparing national 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
The PPP-converted GDP per capita statistic adjusts for differences in price levels between countries, enabling more accurate cross-country comparisons of economic output and living standards than using exchange rate-converted figures alone.
Methodology
This data is calculated by the World Bank using the GEKS-CPDW method to derive internationally comparable estimates of real GDP per capita.
Historical Context
Economists and policymakers use this metric to assess a country's economic development and living standards relative to its global peers.
Key Facts
- Malawi's PPP-adjusted GDP per capita was $773 in 2021.
- This places Malawi among the least economically developed countries globally.
- The PPP adjustment accounts for Malawi's lower cost of living compared to wealthier nations.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Malawi, which adjusts for differences in price levels to enable more accurate cross-country comparisons of economic output and living standards.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for economists and policymakers to assess Malawi's economic development and living standards relative to other countries, beyond what can be gleaned from exchange rate-converted GDP figures alone.
Q: How is this data collected or calculated?
A: The World Bank calculates this PPP-adjusted GDP per capita statistic for Malawi using the GEKS-CPDW method to derive internationally comparable estimates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this PPP-converted GDP per capita metric to benchmark Malawi's economic performance and living standards against global peers, informing decisions around development strategies and policy interventions.
Q: Are there update delays or limitations?
A: There can be lags of 1-2 years in the availability of this data, as the underlying GDP and price level information requires extensive data collection and analysis by statistical agencies.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Malawi (PC2GDPMWA620NUPN), retrieved from FRED.