Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Laos
PGD2USLAA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.32
Year-over-Year Change
100.68%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Laos relative to the United States. It provides insights into the standard of living and economic productivity of Laos 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 for more accurate international comparisons of economic activity and living standards. This data point is widely used by economists and policymakers to evaluate relative economic performance and development.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to determine PPP conversion factors.
Historical Context
This metric is valuable for assessing Laos' economic competitiveness and convergence with advanced economies.
Key Facts
- Laos' GDP per capita is currently around 6% of the U.S. level.
- GDP per capita in Laos has grown by over 300% since 1990.
- Laos is classified as a lower-middle income economy by the World Bank.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Laos relative to the United States. It provides insights into the standard of living and economic productivity in Laos compared to the U.S.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for evaluating Laos' economic performance and development relative to advanced economies. It allows for more accurate international comparisons of living standards and productivity.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to determine purchasing power parity conversion factors.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists and policymakers to assess Laos' economic competitiveness and progress towards convergence with more developed economies.
Q: Are there update delays or limitations?
A: There may be lags in data availability, as the World Bank releases updates on an irregular schedule. The accuracy of international comparisons can also be affected by challenges in measuring price levels across countries.
Related Trends
Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Switzerland
PGD2USCHA621NUPN
Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Solomon Islands
PGD2USSBA621NUPN
Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Vietnam
PGDPUSVNA621NUPN
Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Israel
PGD2USILA621NUPN
Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Zambia
PGD2USZMA621NUPN
Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Bulgaria
PGD2USBGA621NUPN
Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Laos (PGD2USLAA621NUPN), retrieved from FRED.