Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Tanzania
PGD2USTZA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.91
Year-over-Year Change
59.17%
Date Range
1/1/1960 - 1/1/2010
Summary
This economic trend measures Tanzania's purchasing power parity (PPP) converted GDP per capita relative to the United States. It provides insights into the relative standard of living and economic development 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-adjusted GDP per capita metric allows for more accurate cross-country comparisons of living standards and productivity than market exchange rates. This data series is a key indicator used by economists and policymakers to assess Tanzania's economic progress and global competitiveness.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to convert GDP to a common currency and adjust for price level differences.
Historical Context
Policymakers and international institutions utilize this metric to inform economic and development strategies.
Key Facts
- Tanzania's PPP-adjusted GDP per capita is about 3% of the U.S. level.
- The PPP conversion factors account for differences in the cost of living between countries.
- This metric is used to track Tanzania's economic progress and global competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures Tanzania's purchasing power parity (PPP) converted GDP per capita relative to the United States. It provides insights into the relative standard of living and economic development between the two countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita metric allows for more accurate cross-country comparisons of living standards and productivity than market exchange rates. This data is a key indicator used by economists and policymakers to assess Tanzania's economic progress and global competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to convert GDP to a common currency and adjust for price level differences.
Q: How is this trend used in economic policy?
A: Policymakers and international institutions utilize this metric to inform economic and development strategies for Tanzania.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and methodological updates of the World Bank.
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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 Tanzania (PGD2USTZA621NUPN), retrieved from FRED.