Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Philippines
PC2GDPPHA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,588.92
Year-over-Year Change
77.93%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the Philippines' gross domestic product (GDP) per capita adjusted for purchasing power parity. It provides a standardized basis for comparing the Philippines' economic output and living standards relative to other 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
Purchasing power parity (PPP) GDP per capita is a metric that accounts for differences in price levels between countries, allowing for more accurate cross-country comparisons of economic output and standards of living. The GEKS-CPDW method used here is an advanced PPP calculation approach.
Methodology
The data is collected and calculated by the World Bank using a range of economic surveys and statistical models.
Historical Context
This PPP-adjusted GDP per capita trend is widely used by policymakers, economists, and international organizations to assess the Philippines' economic development and living standards in a global context.
Key Facts
- Philippines' 2021 PPP GDP per capita was $9,001.
- This represents a 75% increase from the 2000 level of $5,134.
- The Philippines ranks 124th globally in PPP GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the Philippines' gross domestic product (GDP) per capita, adjusted for differences in purchasing power across countries using the GEKS-CPDW method.
Q: Why is this trend relevant for users or analysts?
A: PPP-adjusted GDP per capita provides a more accurate basis for comparing the Philippines' economic output and living standards relative to other countries, which is crucial for policymakers and economists assessing the country's development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using a range of economic surveys and statistical models.
Q: How is this trend used in economic policy?
A: This PPP-adjusted GDP per capita trend is widely used by policymakers, economists, and international organizations to assess the Philippines' economic development and living standards in a global context.
Q: Are there update delays or limitations?
A: The data is updated annually, with a slight delay compared to the reference year.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Philippines (PC2GDPPHA620NUPN), retrieved from FRED.