Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Panama
PGDPUSPAA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.69
Year-over-Year Change
39.62%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures Panama's gross domestic product (GDP) per capita relative to the United States, adjusted for purchasing power parity. It provides insight into the comparative living standards and economic development 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 Purchasing Power Parity Converted GDP Per Capita Relative to the United States metric compares the output of goods and services produced in Panama to that of the U.S., while accounting for differences in the cost of living. This allows for more accurate cross-country comparisons of economic well-being.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, which is a widely-used international standard for measuring GDP and price levels.
Historical Context
This trend is valuable for policymakers, investors, and analysts seeking to understand Panama's economic position relative to the U.S.
Key Facts
- Panama's GDP per capita is currently 39.2% of the U.S. level.
- This metric has increased from 29.9% in 1990 to its current level.
- Panama's relative economic position has improved over the past three decades.
FAQs
Q: What does this economic trend measure?
A: This trend measures Panama's gross domestic product (GDP) per capita relative to the United States, adjusted for differences in purchasing power and cost of living between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate comparison of living standards and economic development between Panama and the U.S. than unadjusted GDP per capita, making it valuable for policymakers, investors, and economists.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, a widely-used international standard for measuring GDP and price levels.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers, analysts, and investors to assess Panama's economic position relative to the U.S. and inform decisions related to trade, investment, and development policies.
Q: Are there update delays or limitations?
A: The data is subject to update delays, as it relies on the compilation of national accounts and price level information from various sources.
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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 Panama (PGDPUSPAA621NUPN), retrieved from FRED.