Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Cape Verde
PGDPUSCVA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8.86
Year-over-Year Change
61.48%
Date Range
1/1/1960 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita of Cape Verde relative to the United States. It provides insights into the standard of living and economic productivity of Cape Verde compared to the U.S.
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 compares the purchasing power of a country's currency to that of the U.S. dollar, adjusting for differences in price levels between the two economies. This metric is widely used by economists and policymakers to evaluate relative economic performance and development.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, a multilateral system for making international comparisons of GDP and related economic indicators.
Historical Context
This trend is relevant for analyzing the economic competitiveness and convergence of Cape Verde's economy with more developed nations.
Key Facts
- Cape Verde's PPP-converted GDP per capita is around 13% of the U.S. level.
- The trend has shown gradual improvement over the past two decades.
- Relative to its regional peers, Cape Verde has a higher standard of living.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita of Cape Verde relative to the United States. It provides insights into the standard of living and economic productivity of Cape Verde compared to the U.S.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to evaluate relative economic performance and development across countries, allowing for more accurate comparisons of living standards and productivity.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, a multilateral system for making international comparisons of GDP and related economic indicators.
Q: How is this trend used in economic policy?
A: This trend is relevant for analyzing the economic competitiveness and convergence of Cape Verde's economy with more developed nations, which can inform policymaking and investment decisions.
Q: Are there update delays or limitations?
A: The data is subject to update delays and may not fully capture rapid economic changes due to the complexity of international price comparisons.
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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 Cape Verde (PGDPUSCVA621NUPN), retrieved from FRED.