Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Nicaragua
PC2GDPNIA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,721.50
Year-over-Year Change
48.15%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP)-adjusted GDP per capita for Nicaragua. It provides insights into the overall economic well-being and living standards of the Nicaraguan 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 metric adjusts the standard GDP per capita figure to account for differences in price levels across countries, allowing for more accurate cross-country comparisons of economic output and standards of living.
Methodology
The data is calculated by the World Bank using the GEKS-CPDW method.
Historical Context
This trend is a key indicator used by economists, policymakers, and international organizations to assess economic development and make informed decisions.
Key Facts
- Nicaragua's PPP-adjusted GDP per capita was $6,305 in 2021.
- The PPP adjustment accounts for differences in cost of living across countries.
- This metric provides a more accurate comparison of living standards than nominal GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP)-adjusted GDP per capita for Nicaragua. It provides a more accurate comparison of living standards across countries by accounting for differences in price levels.
Q: Why is this trend relevant for users or analysts?
A: This metric is highly relevant for economists, policymakers, and international organizations to assess economic development and make informed decisions about cross-country comparisons and policies.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the GEKS-CPDW method, a multilateral price index approach.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and international organizations to evaluate economic performance, living standards, and development strategies across countries.
Q: Are there update delays or limitations?
A: There may be some delays in data updates, as the PPP adjustments require complex calculations by statistical agencies. Users should be aware of the latest available data when referencing this trend.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Nicaragua (PC2GDPNIA620NUPN), retrieved from FRED.