Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Burkina Faso
PGDPUSBFA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.47
Year-over-Year Change
21.58%
Date Range
1/1/1959 - 1/1/2010
Summary
This economic indicator measures Burkina Faso's GDP per capita relative to the United States, adjusted for purchasing power parity. It provides insight into the comparative living standards and economic development of 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 Purchasing Power Parity Converted GDP Per Capita Relative to the United States metric compares the income and production levels of Burkina Faso to the U.S. by adjusting for differences in the cost of living between the countries. This can help analysts and policymakers assess the relative economic well-being of the populations.
Methodology
The data is calculated using the Geary-Khamis (G-K) method to convert local currency GDP figures into a common unit.
Historical Context
This trend is useful for international economic comparisons and informing policy decisions related to trade, aid, and development.
Key Facts
- Burkina Faso's GDP per capita is approximately 2% of the U.S. level.
- This metric has declined from around 3% in the 1990s.
- Burkina Faso is one of the poorest countries in the world by this measure.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Burkina Faso's GDP per capita relative to the United States, adjusted for differences in purchasing power between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the comparative living standards and economic development of Burkina Faso relative to the U.S., which is useful for international economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method to convert local currency GDP figures into a common unit.
Q: How is this trend used in economic policy?
A: This metric informs policy decisions related to trade, aid, and economic development by providing a standardized comparison of living standards across countries.
Q: Are there update delays or limitations?
A: There may be delays in data availability due to the time required for currency conversion and purchasing power adjustments.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Burkina Faso (PGDPUSBFA621NUPN), retrieved from FRED.