Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Palau
PC2GDPPWA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18,088.82
Year-over-Year Change
39.76%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for Palau, providing insights into the country's overall economic development and living standards.
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 for Palau is a key indicator used by economists and policymakers to assess the standard of living and compare economic performance across countries, adjusting for differences in price levels.
Methodology
The data is calculated by the World Bank using the GEKS-CPDW method to convert GDP per capita to international dollars.
Historical Context
This metric is widely used to evaluate economic progress and guide policy decisions related to growth, development, and living standards.
Key Facts
- Palau's PPP-converted GDP per capita was $15,916 in 2021.
- This metric has grown by an average of 2.5% annually over the past decade.
- Palau's PPP-converted GDP per capita is higher than the global average but lower than many developed economies.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Palau, which adjusts the country's GDP per capita to account for differences in price levels compared to the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for evaluating Palau's overall economic development and living standards, as it allows for more accurate international comparisons than using nominal GDP per capita.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the GEKS-CPDW method to convert GDP per capita to international dollars.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess Palau's economic progress, guide development strategies, and make informed decisions about growth, investment, and living standards.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with some delay in availability 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 Palau (PC2GDPPWA620NUPN), retrieved from FRED.