Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Eritrea
PGD2USERA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.72
Year-over-Year Change
-34.40%
Date Range
1/1/1992 - 1/1/2010
Summary
This economic trend measures Eritrea's purchasing power parity (PPP) converted GDP per capita relative to the United States. It provides insights into the comparative living standards and productivity between the two countries.
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-adjusted GDP per capita metric accounts for differences in price levels between countries, allowing for more accurate comparisons of material well-being. This indicator is widely used by economists and policymakers to evaluate economic development and living standards across nations.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to convert local currency GDP to international dollars.
Historical Context
This trend is relevant for understanding Eritrea's economic position relative to the U.S. and can inform policy decisions and investment strategies.
Key Facts
- Eritrea's GDP per capita is approximately 2% of the U.S. level.
- Eritrea's economy has experienced modest growth in recent decades.
- PPP-adjusted metrics provide a more accurate assessment of living standards than market exchange rates.
FAQs
Q: What does this economic trend measure?
A: This trend measures Eritrea's purchasing power parity (PPP) converted GDP per capita relative to the United States. It provides insights into the comparative living standards and productivity between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This indicator is widely used by economists and policymakers to evaluate economic development and living standards across nations, allowing for more accurate comparisons of material well-being between countries.
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 to international dollars.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding Eritrea's economic position relative to the U.S. and can inform policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of GDP and price level information for Eritrea.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Eritrea (PGD2USERA621NUPN), retrieved from FRED.