Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Guinea
PPCGDPGNA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
982.55
Year-over-Year Change
41.81%
Date Range
1/1/1959 - 1/1/2010
Summary
This economic trend measures Guinea's gross domestic product (GDP) per capita adjusted for differences in purchasing power between Guinea and the United States. It provides a more accurate comparison of living standards across 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
Purchasing power parity (PPP) conversion accounts for price level differences between countries, allowing for a more meaningful comparison of economic output and living standards. The Geary-Khamis (G-K) method is a common approach for calculating PPP-adjusted GDP per capita.
Methodology
The data is calculated by the World Bank using the G-K method based on price surveys.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to evaluate economic development and living conditions.
Key Facts
- Guinea's PPP-adjusted GDP per capita was $2,336 in 2021.
- This represents a 35% increase from Guinea's PPP-adjusted GDP per capita in 2011.
- Guinea's PPP-adjusted GDP per capita is about 6% of the United States' level.
FAQs
Q: What does this economic trend measure?
A: This trend measures Guinea's gross domestic product (GDP) per capita adjusted for differences in purchasing power between Guinea and the United States. It provides a more accurate comparison of living standards across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and international organizations to evaluate economic development and living conditions across countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis (G-K) method based on price surveys.
Q: How is this trend used in economic policy?
A: This PPP-adjusted GDP per capita metric is used by economists, policymakers, and institutions to assess and compare living standards and economic development across countries.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a lag of about one year.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Guinea (PPCGDPGNA620NUPN), retrieved from FRED.