Gross Domestic Product Per Capita for Tonga
PCAGDPTOA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,863.76
Year-over-Year Change
26.33%
Date Range
1/1/1975 - 1/1/2023
Summary
The Gross Domestic Product (GDP) per Capita for Tonga measures the country's economic output per person. It is a key indicator of a nation's standard of living and economic development.
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 calculated by dividing a country's total economic output by its population. It provides a snapshot of the average standard of living and is widely used by economists and policymakers to assess a country's economic performance and compare it to other nations.
Methodology
The data is collected and calculated by the World Bank based on national accounts data.
Historical Context
GDP per capita is a crucial metric for evaluating a country's economic progress and informing policy decisions.
Key Facts
- Tonga's GDP per capita was $5,948 in 2020.
- GDP per capita has grown by 22% in Tonga over the past decade.
- Tonga's GDP per capita is lower than the global average.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) per Capita for Tonga measures the average economic output per person in the country.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a widely used indicator of a country's standard of living and economic development, providing insights for economists, policymakers, and market participants.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts data.
Q: How is this trend used in economic policy?
A: GDP per capita is a crucial metric for evaluating a country's economic progress and informing policy decisions related to economic growth, living standards, and macroeconomic performance.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with some potential delays in data reporting and availability.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Tonga (PCAGDPTOA646NWDB), retrieved from FRED.