Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Guyana
PGD2USGYA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
11.24
Year-over-Year Change
29.91%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures Guyana's purchasing power parity (PPP) adjusted GDP per capita relative to the United States. It provides insight into the standard of living and economic development in Guyana compared to the U.S.
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-converted GDP per capita metric adjusts for differences in price levels between countries, allowing more accurate comparisons of living standards and economic productivity. This data series tracks Guyana's performance over time relative to the U.S. benchmark.
Methodology
The data is calculated using the GEKS-CPDW method, a multilateral PPP approach.
Historical Context
Policymakers and analysts use this metric to evaluate Guyana's economic progress and competitiveness.
Key Facts
- Guyana's PPP-adjusted GDP per capita is around 13% of the U.S. level.
- The metric has improved from 10% of the U.S. in 2000 to 13% in 2020.
- Closing this gap is a key economic development goal for Guyana.
FAQs
Q: What does this economic trend measure?
A: This trend measures Guyana's purchasing power parity (PPP) adjusted GDP per capita relative to the United States. It provides a standardized comparison of living standards and economic productivity between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for evaluating Guyana's economic development and competitiveness compared to the U.S. benchmark. It helps policymakers and analysts assess the country's progress in raising living standards over time.
Q: How is this data collected or calculated?
A: The data is calculated using the GEKS-CPDW method, a multilateral purchasing power parity approach.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to track Guyana's economic progress and competitiveness, informing decisions around economic development strategies and policies.
Q: Are there update delays or limitations?
A: There may be lags in data availability, as the PPP calculations rely on multiple sources. The metric also does not account for all aspects of living standards or quality of life.
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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 Guyana (PGD2USGYA621NUPN), retrieved from FRED.