Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Palau
PGDPUSPWA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37.62
Year-over-Year Change
-4.70%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures Palau'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 insights into the comparative living standards and productivity between the two economies.
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 metric adjusts for differences in price levels between countries, offering a more accurate comparison of real living standards than market exchange rates. The G-K method is a sophisticated approach that calculates international price parities based on a system of simultaneous equations.
Methodology
The data is collected and calculated by the World Bank using household surveys and national accounts.
Historical Context
This trend is widely used by economists, policymakers, and investors to assess economic development and competitiveness.
Key Facts
- Palau's PPP-adjusted GDP per capita was 71.7% of the U.S. level in 2021.
- The G-K method accounts for relative price differences across a broad basket of goods and services.
- PPP metrics are used to compare living standards and productivity across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures Palau'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 trend provides insights into the comparative living standards and productivity between Palau and the United States, offering a more accurate comparison than market exchange rates.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using household surveys and national accounts.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and investors to assess economic development and competitiveness between countries.
Q: Are there update delays or limitations?
A: The data is published annually, with potential delays in availability due to the complexity of the Geary-Khamis methodology.
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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 Palau (PGDPUSPWA621NUPN), retrieved from FRED.