Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Czech Republic
PPCGDPCZA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
25,485.56
Year-over-Year Change
89.03%
Date Range
1/1/1990 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for the Czech Republic, using the Geary-Khamis (G-K) method at current prices. It provides insights into the overall economic well-being and living standards of the Czech population.
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 is a key metric for comparing economic output and living standards across countries, as it accounts for differences in price levels. The G-K method is a widely-used approach for calculating PPP that aims to provide more accurate international comparisons.
Methodology
The data is collected and calculated by the World Bank based on national accounts and price survey information.
Historical Context
This trend is widely referenced by economists, policymakers, and international organizations to assess economic development and living standards.
Key Facts
- The Czech Republic's PPP-converted GDP per capita was $38,340 in 2021.
- This metric has grown by over 50% since 2000, indicating rising living standards.
- The Czech Republic ranks among the highest in Europe for PPP-adjusted GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for the Czech Republic, using the Geary-Khamis (G-K) method at current prices.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into the overall economic well-being and living standards of the Czech population, allowing for meaningful cross-country comparisons.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank based on national accounts and price survey information.
Q: How is this trend used in economic policy?
A: This trend is widely referenced by economists, policymakers, and international organizations to assess economic development and living standards in the Czech Republic.
Q: Are there update delays or limitations?
A: The data is typically updated on an annual basis, with some potential delays in the release of the latest figures.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Czech Republic (PPCGDPCZA620NUPN), retrieved from FRED.