Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Greece
PPCGDPGRA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28,435.59
Year-over-Year Change
71.94%
Date Range
1/1/1951 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for Greece, using the Geary-Khamis (G-K) method at current prices. It provides insights into the overall economic well-being and living standards of the Greek 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 metric adjusts the standard GDP per capita figure to account for differences in purchasing power across countries, enabling more accurate international comparisons. The G-K method is a widely used approach for calculating PPP that considers a basket of goods and services.
Methodology
The data is collected and calculated by the OECD using established PPP estimation techniques.
Historical Context
This metric is crucial for policymakers and economists analyzing Greece's economic development and living standards relative to other nations.
Key Facts
- Greece's PPP-adjusted GDP per capita was $31,732 in 2021.
- Greece's PPP GDP per capita is around 75% of the OECD average.
- PPP conversion factors account for cost-of-living differences across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Greece, using the Geary-Khamis (G-K) method at current prices. It provides insights into the overall economic well-being and living standards of the Greek population.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for policymakers and economists analyzing Greece's economic development and living standards relative to other nations, as the PPP adjustment enables more accurate international comparisons.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the OECD using established PPP estimation techniques.
Q: How is this trend used in economic policy?
A: This trend is used by policymakers and economists to assess Greece's economic performance and living standards compared to other countries, which informs policy decisions and analyses.
Q: Are there update delays or limitations?
A: The data is subject to the publication schedule and methodological limitations of the OECD's PPP estimation process.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Greece (PPCGDPGRA620NUPN), retrieved from FRED.