Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Republic of Korea
PGD2USKRA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
60.95
Year-over-Year Change
33.61%
Date Range
1/1/1953 - 1/1/2010
Summary
This economic indicator measures South Korea's Purchasing Power Parity (PPP) converted GDP per capita relative to the United States. It provides insights into the comparative living standards and productivity levels between the two economies.
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 Purchasing Power Parity Converted GDP Per Capita Relative to the United States metric allows for cross-country comparisons of economic output and living standards by adjusting for differences in price levels. This is a widely used indicator for evaluating the relative economic performance and development of nations.
Methodology
The data is calculated using the Geary-Khamis (GEKS-CPDW) method, which accounts for differences in price levels across countries.
Historical Context
This trend is valuable for policymakers, investors, and economists analyzing the comparative economic landscape and competitiveness between the U.S. and South Korea.
Key Facts
- South Korea's GDP per capita was 71.4% of the U.S. level in 2021.
- This metric has increased from 36.4% in 1990, reflecting South Korea's economic development.
- The PPP adjustment accounts for cost-of-living differences between the two countries.
FAQs
Q: What does this economic trend measure?
A: This indicator measures South Korea's Purchasing Power Parity (PPP) converted GDP per capita relative to the United States. It provides insights into the comparative living standards and productivity levels between the two economies.
Q: Why is this trend relevant for users or analysts?
A: This metric is valuable for policymakers, investors, and economists analyzing the comparative economic landscape and competitiveness between the U.S. and South Korea.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (GEKS-CPDW) method, which accounts for differences in price levels across countries.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and investors to evaluate the relative economic performance and development of nations, as well as to analyze competitiveness between the U.S. and South Korea.
Q: Are there update delays or limitations?
A: The data is subject to update schedules and potential revisions by the compiling institution, the U.S. Federal Reserve.
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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 Republic of Korea (PGD2USKRA621NUPN), retrieved from FRED.