Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Ireland
PGDPUSIEA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81.95
Year-over-Year Change
2.95%
Date Range
1/1/1950 - 1/1/2010
Summary
This trend measures Ireland's Purchasing Power Parity (PPP) Converted GDP Per Capita relative to the United States, using the Geary-Khamis (G-K) method and current prices. It provides insight into the relative economic output and living standards 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 Relative to the US metric compares the economic productivity and purchasing power of Ireland to that of the United States. It adjusts for differences in price levels between the countries, offering a more accurate assessment of living standards and cross-country comparisons.
Methodology
The data is calculated by the World Bank using the Geary-Khamis 'international dollar' method to convert and standardize GDP per capita.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to evaluate economic performance and living standards across countries.
Key Facts
- Ireland's GDP per capita is currently 81% of the US level.
- The G-K method adjusts for price differences between countries.
- This metric is a better indicator of living standards than exchange rate-based comparisons.
FAQs
Q: What does this economic trend measure?
A: This trend measures Ireland's Purchasing Power Parity (PPP) Converted GDP Per Capita relative to the United States, using the Geary-Khamis (G-K) method and current prices.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into the relative economic output and living standards between Ireland and the US, adjusting for differences in price levels between the countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis 'international dollar' method to convert and standardize GDP per capita.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international organizations to evaluate economic performance and living standards across countries.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may be subject to revisions as more information becomes available.
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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 Ireland (PGDPUSIEA621NUPN), retrieved from FRED.