Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Mongolia
PGD2USMNA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.50
Year-over-Year Change
69.43%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures Mongolia'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 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-converted GDP per capita relative to the U.S. is a widely used metric for cross-country comparisons of economic development and living standards. It adjusts for differences in price levels, allowing a more accurate assessment of real purchasing power and productivity.
Methodology
The data is calculated by the World Bank using the Geary-Khamis (GK) method, a multilateral approach to PPP conversion.
Historical Context
This trend is relevant for policymakers, analysts, and investors seeking to understand Mongolia's economic performance and competitiveness relative to the U.S.
Key Facts
- Mongolia's PPP-converted GDP per capita was 24.6% of the U.S. level in 2021.
- This ratio has increased from 17.6% in 2000, indicating gradual economic convergence.
- The data is updated annually by the World Bank.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Mongolia's Purchasing Power Parity (PPP) converted GDP per capita relative to the United States. It provides a standardized comparison of living standards and productivity levels between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by policymakers, economists, and investors to assess a country's economic development and competitiveness compared to other major economies. It helps inform decisions related to trade, investment, and economic policy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis (GK) method, a multilateral approach to PPP conversion.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Mongolia's economic performance, living standards, and competitiveness relative to the United States, which is a key reference point for global economic comparisons.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank. There may be some delays in the release of the most recent year's figures.
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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 Mongolia (PGD2USMNA621NUPN), retrieved from FRED.