Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Italy
PPCGDPITA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
31,779.19
Year-over-Year Change
35.23%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the purchasing power-adjusted gross domestic product (GDP) per capita for Italy, using the Geary-Khamis (G-K) method. It provides insights into the standard of living and economic development of the Italian 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 purchasing power parity (PPP) converted GDP per capita metric adjusts Italy's GDP to account for differences in the cost of living, allowing for more accurate cross-country comparisons of material well-being. The G-K method is a widely used approach for these PPP calculations.
Methodology
The data is collected and calculated by the World Bank using national accounts and price survey information.
Historical Context
This trend is closely watched by policymakers, economists, and investors to gauge Italy's economic performance and competitiveness relative to other nations.
Key Facts
- Italy's 2021 PPP-adjusted GDP per capita was $43,525.
- Italy ranks 24th globally in PPP-adjusted GDP per capita.
- Italy's PPP-adjusted GDP per capita has grown by 9% over the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Italy's gross domestic product (GDP) per capita, adjusted for differences in purchasing power across countries using the Geary-Khamis method.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita metric provides a more accurate comparison of living standards and economic development between Italy and other nations, making it a key data point for policymakers, economists, and investors.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts information and price surveys across countries.
Q: How is this trend used in economic policy?
A: Policymakers and economists analyze this data to assess Italy's economic performance, competitiveness, and living standards relative to its peers, informing decisions on fiscal, monetary, and trade policies.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the availability of this data due to the time required for collection and calculation across countries.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Italy (PPCGDPITA620NUPN), retrieved from FRED.