Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for South Africa
PC2GDPZAA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,929.28
Year-over-Year Change
89.78%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita for South Africa. It provides insights into the relative standard of living and economic productivity of the country.
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 nominal GDP per capita figure to account for differences in price levels across countries, enabling more accurate comparisons of living standards and economic development. This trend is widely used by economists, policymakers, and international institutions to analyze a country's economic performance and living standards relative to its peers.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to convert local-currency GDP figures to a common PPP basis.
Historical Context
This metric is closely watched by policymakers and analysts to assess South Africa's economic competitiveness and progress toward development goals.
Key Facts
- South Africa's PPP-adjusted GDP per capita was $13,807 in 2021.
- The country's PPP-adjusted GDP per capita is around 24% of the United States' level.
- South Africa's PPP-adjusted GDP per capita has grown by 23% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita for South Africa, which adjusts the nominal GDP per capita to account for differences in price levels across countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita is a widely used metric that provides a more accurate comparison of living standards and economic development across countries, enabling better analysis of South Africa's economic performance and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to convert local-currency GDP figures to a common PPP basis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor this metric to assess South Africa's economic competitiveness and progress toward development goals, informing policy decisions and economic strategies.
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 South Africa (PC2GDPZAA620NUPN), retrieved from FRED.