Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Ecuador
PGDPUSECA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
15.77
Year-over-Year Change
28.41%
Date Range
1/1/1951 - 1/1/2010
Summary
This economic trend measures Ecuador's Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita relative to the United States. It provides insight into the standard of living and economic development in Ecuador 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 represents the real purchasing power of a country's citizens relative to the U.S. It is a key metric for international economic comparisons and assessing a country's development level.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, which adjusts for price level differences between countries.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to evaluate Ecuador's economic performance and living standards.
Key Facts
- Ecuador's PPP-converted GDP per capita is 27.7% of the U.S. level.
- Ecuador's relative GDP per capita has increased from 24.7% in 2010 to 27.7% in 2021.
- The G-K method adjusts for price level differences to provide a more accurate comparison.
FAQs
Q: What does this economic trend measure?
A: This trend measures Ecuador's Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita relative to the United States. It provides insight into the standard of living and economic development in Ecuador compared to the U.S.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita ratio is a key metric for international economic comparisons and assessing a country's development level. It is widely used by economists, policymakers, and international organizations to evaluate Ecuador's economic performance and living standards.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, which adjusts for price level differences between countries.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and international organizations to evaluate Ecuador's economic performance and living standards relative to the United States. It provides important context for assessing the country's development and informing economic policy decisions.
Q: Are there update delays or limitations?
A: The data is updated regularly by the U.S. Federal Reserve, but there may be some delay in reporting the latest figures. Additionally, the G-K method used for the calculations has certain limitations in accurately capturing price level differences across countries.
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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 Ecuador (PGDPUSECA621NUPN), retrieved from FRED.