Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Liberia
PGD2USLRA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.05
Year-over-Year Change
-0.27%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures Liberia's Purchasing Power Parity (PPP) converted GDP per capita relative to the United States. It provides insights into the standard of living and economic development in Liberia 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 ratio compares the purchasing power of Liberia's economy to the U.S., adjusting for differences in price levels between the two countries. This metric is widely used by economists and policymakers to evaluate cross-country living standards and productivity.
Methodology
The data is calculated using the Geary-Khamis (GEKS-CPDW) method to convert local currency GDP into internationally comparable U.S. dollars.
Historical Context
This trend is valuable for assessing Liberia's economic progress and competitiveness in global markets.
Key Facts
- Liberia's PPP-adjusted GDP per capita is around 2% of the U.S. level.
- The ratio has remained relatively stable over the past decade.
- Liberia's low PPP-adjusted GDP per capita reflects its economic challenges and development needs.
FAQs
Q: What does this economic trend measure?
A: This trend measures Liberia's Purchasing Power Parity (PPP) converted GDP per capita relative to the United States. It provides insights into the standard of living and economic development in Liberia compared to the U.S.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita ratio is widely used by economists and policymakers to evaluate cross-country living standards and productivity, making it a valuable metric for assessing Liberia's economic progress and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (GEKS-CPDW) method to convert local currency GDP into internationally comparable U.S. dollars.
Q: How is this trend used in economic policy?
A: This trend is valuable for assessing Liberia's economic progress and competitiveness in global markets, providing insights that can inform economic policy and development strategies.
Q: Are there update delays or limitations?
A: The data is subject to update delays and may have limitations due to the complexity of cross-country comparisons and data collection challenges in developing economies.
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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 Liberia (PGD2USLRA621NUPN), retrieved from FRED.