Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Iraq
PPCGDPIQA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,168.20
Year-over-Year Change
67.72%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures the purchasing power-adjusted gross domestic product (GDP) per capita for Iraq, using the Geary-Khamis (G-K) method at current prices. It provides insights into the overall economic productivity and living standards within the country.
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 Purchasing Power Parity (PPP) Converted GDP Per Capita metric adjusts the raw GDP per capita figure to account for differences in price levels between countries, offering a more accurate comparison of living standards and economic development.
Methodology
The data is collected and calculated by the World Bank using the Geary-Khamis method, a multilateral approach to estimating PPP conversion factors.
Historical Context
This indicator is widely used by economists, policymakers, and international organizations to analyze and compare the economic performance and development of different countries.
Key Facts
- Iraq's PPP-adjusted GDP per capita was $17,590 in 2021.
- The G-K method accounts for differences in relative prices across countries.
- PPP-adjusted GDP per capita is a better measure of living standards than raw GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power-adjusted gross domestic product (GDP) per capita for Iraq, using the Geary-Khamis (G-K) method at current prices.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate comparison of living standards and economic development across countries by accounting for differences in price levels, making it a valuable tool for economists and policymakers.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using the Geary-Khamis method, a multilateral approach to estimating purchasing power parity conversion factors.
Q: How is this trend used in economic policy?
A: This indicator is widely used by economists, policymakers, and international organizations to analyze and compare the economic performance and development of different countries, informing policy decisions.
Q: Are there update delays or limitations?
A: The data may be subject to update delays and potential limitations in the underlying price and GDP data for Iraq.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Iraq (PPCGDPIQA620NUPN), retrieved from FRED.