Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Ecuador
PPCGDPECA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,345.69
Year-over-Year Change
88.72%
Date Range
1/1/1951 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) adjusted GDP per capita for Ecuador, a key indicator of economic development and living standards.
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
Purchasing power parity (PPP) GDP per capita adjusts for differences in price levels across countries, providing a more accurate comparison of living standards and economic productivity than market exchange rates.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, a widely used PPP estimation technique.
Historical Context
Policymakers and analysts use this data to evaluate Ecuador's economic performance and growth.
Key Facts
- Ecuador's PPP GDP per capita was $11,770 in 2021.
- Ecuador's PPP GDP per capita has grown by over 40% since 2010.
- PPP adjustments are essential for accurate cross-country economic comparisons.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) adjusted GDP per capita for Ecuador, providing a more accurate comparison of living standards and economic productivity than market exchange rates.
Q: Why is this trend relevant for users or analysts?
A: PPP GDP per capita is a key indicator of economic development and a widely used metric for evaluating a country's economic performance and living standards.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, a widely accepted PPP estimation technique.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to compare Ecuador's economic performance and growth to other countries, informing policy decisions and economic assessments.
Q: Are there update delays or limitations?
A: The data is subject to update delays and potential revisions, as is common with economic statistics.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Ecuador (PPCGDPECA620NUPN), retrieved from FRED.