Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Tonga
PGD2USTOA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
18.82
Year-over-Year Change
-6.16%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures Tonga's Purchasing Power Parity (PPP) Converted GDP Per Capita Relative to the United States. It provides insights into the relative standard of living and productivity 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. metric compares the purchasing power of Tonga's GDP per capita to that of the United States, which is set as the baseline of 100. This helps economists and policymakers evaluate the relative economic well-being and productivity of Tonga's population.
Methodology
The data is calculated using the GEKS-CPDW method, which adjusts for price level differences between countries.
Historical Context
This metric is widely used to analyze international standards of living and competitiveness.
Key Facts
- Tonga's PPP Converted GDP Per Capita is around 30% of the U.S. level.
- The indicator has shown gradual improvement over the past two decades.
- GDP per capita measures economic output per person, a proxy for standards of living.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Tonga's Purchasing Power Parity (PPP) Converted GDP Per Capita Relative to the United States, which reflects the relative standard of living and productivity between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for comparing the economic well-being and competitiveness of countries, as it adjusts for differences in price levels to provide a more accurate picture of relative living standards.
Q: How is this data collected or calculated?
A: The data is calculated using the GEKS-CPDW method, which is a multilateral approach that adjusts for price level differences between countries.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess a country's relative standard of living and productivity, which informs decisions on economic, trade, and development policies.
Q: Are there update delays or limitations?
A: There may be delays in data reporting, and the metric does not capture all aspects of economic well-being, such as income inequality or environmental factors.
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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 Tonga (PGD2USTOA621NUPN), retrieved from FRED.