Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Venezuela
PGD2USVEA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25.36
Year-over-Year Change
48.36%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures Venezuela's purchasing power parity (PPP) converted GDP per capita relative to the United States. It provides insights into the comparative living standards 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-converted GDP per capita ratio represents the real purchasing power of a country's population compared to the U.S. It is a widely used indicator for cross-country comparisons of living standards and overall economic performance.
Methodology
The data is calculated using the Geary-Khamis (GEKS-CPDW) method to ensure consistent international comparisons.
Historical Context
This trend is relevant for policymakers, economists, and investors analyzing the relative economic position and growth trajectory of Venezuela compared to the U.S.
Key Facts
- Venezuela's PPP-converted GDP per capita is 7.3% of the U.S. level.
- This ratio has declined from over 20% in the 1970s due to economic crises.
- The data is updated annually by the World Bank.
FAQs
Q: What does this economic trend measure?
A: This trend measures Venezuela's purchasing power parity (PPP) converted GDP per capita relative to the United States. It provides insights into the comparative living standards and economic development between the two countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita ratio is a widely used indicator for cross-country comparisons of living standards and overall economic performance. It is relevant for policymakers, economists, and investors analyzing the relative economic position and growth trajectory of Venezuela compared to the U.S.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (GEKS-CPDW) method to ensure consistent international comparisons.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, economists, and investors to analyze the relative economic position and growth trajectory of Venezuela compared to the U.S. It provides insights into the comparative living standards and overall economic performance between the two countries.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank. There may be delays in the most recent year's data availability.
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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 Venezuela (PGD2USVEA621NUPN), retrieved from FRED.