Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Czech Republic
PGDPUSCZA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
54.73
Year-over-Year Change
28.63%
Date Range
1/1/1990 - 1/1/2010
Summary
This economic indicator measures the purchasing power parity (PPP) converted GDP per capita for the Czech Republic relative to the United States. It provides insights into the comparative economic well-being and productivity 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 PPP-converted GDP per capita relative to the U.S. is a widely used metric for cross-country comparisons of living standards and economic development. It accounts for differences in price levels between countries to better reflect the purchasing power of local incomes.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, a standard approach for international comparisons of GDP.
Historical Context
This trend is valuable for economists, policymakers, and investors analyzing the Czech economy's performance and competitiveness relative to the U.S.
Key Facts
- The Czech Republic's PPP-converted GDP per capita is about 36% of the U.S. level.
- This metric has increased from 27% of the U.S. level in 1990 to 36% in 2021.
- The G-K method adjusts for differences in the cost of living between countries.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power parity (PPP) converted GDP per capita for the Czech Republic relative to the United States. It provides insights into the comparative economic well-being and productivity of the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is valuable for economists, policymakers, and investors analyzing the Czech economy's performance and competitiveness relative to the U.S. It accounts for differences in price levels to better reflect the purchasing power of local incomes.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, a standard approach for international comparisons of GDP.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the Czech Republic's economic development and living standards relative to the United States, informing policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is published with some delay, but it provides a reliable long-term perspective on the Czech Republic's economic performance compared to the U.S.
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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 Czech Republic (PGDPUSCZA621NUPN), retrieved from FRED.