Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for Bermuda
PLGDPOBMA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.31
Year-over-Year Change
15.29%
Date Range
1/1/1970 - 1/1/2019
Summary
This economic trend measures the price level of output-side real GDP in Bermuda, adjusted for differences in purchasing power across countries. It provides insights into the relative cost of goods and services in Bermuda compared to the global average.
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 price level of output-side real GDP at current purchasing power parities (PPP) is an important indicator for assessing the standard of living and economic competitiveness of a country. It compares the cost of a standardized basket of goods and services in Bermuda to the global average, offering valuable context for international comparisons.
Methodology
The data is calculated by the World Bank using national accounts and exchange rate data.
Historical Context
This trend is used by economists and policymakers to evaluate Bermuda's economic performance and purchasing power relative to other countries.
Key Facts
- Bermuda's price level of output-side real GDP was 1.36 in 2021.
- This indicates Bermuda's prices were 36% higher than the global average.
- The trend has remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the price level of output-side real GDP in Bermuda, adjusted for differences in purchasing power across countries. It provides insights into the relative cost of goods and services in Bermuda compared to the global average.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for assessing the standard of living and economic competitiveness of Bermuda. It offers valuable context for international comparisons by evaluating the country's purchasing power relative to the global average.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and exchange rate data.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to evaluate Bermuda's economic performance and purchasing power relative to other countries, informing policy decisions and international competitiveness strategies.
Q: Are there update delays or limitations?
A: The data is published annually, with some potential for delays in the most recent year's figures.
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Citation
U.S. Federal Reserve, Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for Bermuda (PLGDPOBMA670NRUG), retrieved from FRED.