Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Philippines
PGDPUSPHA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7.72
Year-over-Year Change
21.62%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita of the Philippines relative to the United States. It provides insights 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 PPP-converted GDP per capita ratio compares the output per person in the Philippines to the output per person in the U.S., adjusting for differences in the cost of living between the countries. This metric is useful for evaluating and comparing the relative economic well-being of populations across nations.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, a widely adopted approach for international price and volume comparisons.
Historical Context
This indicator is relevant for policymakers, economists, and international institutions analyzing comparative economic performance and development.
Key Facts
- The Philippines' PPP-converted GDP per capita is approximately 15% of the U.S. level.
- This ratio has remained relatively stable over the past decade.
- Comparing PPP-adjusted GDP per capita provides a more accurate picture of living standards than using exchange rates alone.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita of the Philippines relative to the United States. It provides insights into the comparative living standards and economic development between the two countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita ratio is a useful metric for evaluating and comparing the relative economic well-being of populations across nations, as it adjusts for differences in the cost of living between countries.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, a widely adopted approach for international price and volume comparisons.
Q: How is this trend used in economic policy?
A: This indicator is relevant for policymakers, economists, and international institutions analyzing comparative economic performance and development.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedule and potential limitations associated with international economic statistics.
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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 Philippines (PGDPUSPHA621NUPN), retrieved from FRED.