Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Sierra Leone
PC2GDPSLA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,049.98
Year-over-Year Change
124.08%
Date Range
1/1/1961 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Sierra Leone, adjusting for differences in price levels across countries. It provides a standardized way to compare living standards and productivity across nations.
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 enables more accurate cross-country comparisons of economic output and living standards than using market exchange rates alone. It accounts for differences in the relative prices of goods and services, giving a better sense of the real purchasing power in a given economy.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to derive PPP conversion factors.
Historical Context
This trend is widely used by economists, policymakers, and international institutions to analyze global development and make informed decisions.
Key Facts
- Sierra Leone's PPP-adjusted GDP per capita was $1,458 in 2021.
- This metric has grown by an average of 2.7% annually over the past decade.
- Sierra Leone ranks 172nd globally in PPP-adjusted GDP per capita.
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 Sierra Leone, adjusting for differences in price levels across countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita metric enables more accurate cross-country comparisons of economic output and living standards, which is crucial for analyzing global development and informing policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to derive PPP conversion factors.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international institutions to analyze global development and make informed decisions about economic and social policies.
Q: Are there update delays or limitations?
A: There may be some delays in data availability, as the PPP conversion factors are updated periodically by the World Bank.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Sierra Leone (PC2GDPSLA620NUPN), retrieved from FRED.