Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Turkey
PC2GDPTRA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11,582.10
Year-over-Year Change
65.08%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for Turkey, providing a standardized metric for international comparisons of economic output 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-adjusted GDP per capita is a crucial indicator for evaluating the relative economic development and living standards across countries. It accounts for differences in price levels to better reflect the purchasing power and standard of living in a given economy.
Methodology
The data is collected and calculated by the World Bank using the Geary-Khamis (GEKS-CPDW) method to convert local currency GDP figures to a common international dollar basis.
Historical Context
Policymakers and analysts use this metric to assess Turkey's economic performance and competitiveness relative to other nations.
Key Facts
- Turkey's PPP-adjusted GDP per capita was $31,193 in 2021.
- This represents a 75% increase from the 2000 level of $17,855.
- Turkey ranks 25th 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 GDP per capita for Turkey, providing a standardized metric for international comparisons of economic output and living standards.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita is a crucial indicator for evaluating the relative economic development and living standards across countries, allowing for more accurate comparisons.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using the Geary-Khamis (GEKS-CPDW) method to convert local currency GDP figures to a common international dollar basis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Turkey's economic performance and competitiveness relative to other nations, informing economic and development strategies.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the World Bank, with some potential for delays in availability.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Turkey (PC2GDPTRA620NUPN), retrieved from FRED.