Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Oman
PCDGDPOMA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,957.63
Year-over-Year Change
97.46%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures the average purchasing power per person in Oman based on domestic consumption and investment at current prices. It provides insights into the country's economic development 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
Purchasing power parity (PPP) conversion adjusts economic data to account for differences in price levels between countries, allowing for more accurate international comparisons. This PPP-adjusted domestic absorption per capita metric gives a standardized view of Omani citizens' average economic welfare and consumption potential.
Methodology
The data is calculated by the World Bank using price surveys and national accounts information.
Historical Context
Policymakers and analysts use this metric to assess Oman's economic performance and living standards relative to other nations.
Key Facts
- Oman's 2021 PPP-adjusted domestic absorption per capita was $32,291.
- This metric has grown by 2.3% annually on average over the past decade.
- Oman ranks 47th globally in PPP-adjusted domestic absorption per capita.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the average purchasing power and domestic consumption and investment per person in Oman, adjusted for price level differences using purchasing power parity.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a standardized view of Omani citizens' economic welfare and consumption potential, allowing for comparisons to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Oman's economic performance and living standards relative to other nations.
Q: Are there update delays or limitations?
A: There may be lags in data availability, and the metric does not capture all aspects of economic welfare or inequality within Oman.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Oman (PCDGDPOMA620NUPN), retrieved from FRED.