Gross Domestic Product Per Capita for Benin
PCAGDPBJA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,485.38
Year-over-Year Change
38.62%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) Per Capita for Benin measures the total economic output of the country divided by its population. This metric provides insight into the overall standard of living and economic well-being of Benin's citizens.
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
GDP per capita is a crucial indicator of a country's economic development and productivity. It helps economists and policymakers evaluate the efficiency of resource utilization and identify opportunities for growth and improvement in Benin's economy.
Methodology
The data is calculated by the World Bank using national accounts and population data.
Historical Context
GDP per capita is widely used to compare economic performance across countries and inform policy decisions.
Key Facts
- Benin's GDP per capita was $947 in 2021.
- GDP per capita has grown by 17% in Benin over the past decade.
- Benin ranks 160th globally in GDP per capita as of 2021.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) per capita for Benin measures the total economic output of the country divided by its population. It provides insight into the overall standard of living and economic well-being of Benin's citizens.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a crucial indicator of a country's economic development and productivity. It helps economists and policymakers evaluate the efficiency of resource utilization and identify opportunities for growth and improvement in Benin's economy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and population data.
Q: How is this trend used in economic policy?
A: GDP per capita is widely used to compare economic performance across countries and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Benin (PCAGDPBJA646NWDB), retrieved from FRED.