Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Ecuador
PCDGDPECA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,820.09
Year-over-Year Change
87.54%
Date Range
1/1/1951 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) adjusted per capita domestic absorption for Ecuador. It provides insight into the overall economic well-being and consumption levels of the population.
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
Domestic absorption represents the total amount of goods and services consumed within a country, including private consumption, government spending, and investment. Adjusting this metric for purchasing power parity allows for better cross-country comparisons of real economic activity and living standards.
Methodology
The data is calculated by the World Bank using a multilateral comparison method known as the GEKS-CPDW approach.
Historical Context
This trend is widely used by economists and policymakers to evaluate Ecuador's economic development and living standards relative to other countries.
Key Facts
- Ecuador's PPP-adjusted domestic absorption per capita was $7,194 in 2020.
- This metric has grown by an average of 2.4% annually over the past decade.
- Ecuador ranks 91st globally in terms of PPP-adjusted domestic absorption per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) adjusted per capita domestic absorption for Ecuador. Domestic absorption represents the total amount of goods and services consumed within the country.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the overall economic well-being and living standards of the Ecuadorian population, allowing for better cross-country comparisons of real economic activity.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a multilateral comparison method known as the GEKS-CPDW approach.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists and policymakers to evaluate Ecuador's economic development and living standards relative to other countries.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, so the most recent year may not be immediately available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Ecuador (PCDGDPECA620NUPN), retrieved from FRED.