Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Jamaica
PPCGDPJMA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,681.04
Year-over-Year Change
29.04%
Date Range
1/1/1953 - 1/1/2010
Summary
This economic indicator measures the gross domestic product (GDP) per capita of Jamaica, adjusted for differences in purchasing power between countries. It provides a more accurate comparison of living standards and economic development.
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 factors are used to account for price level differences across countries, allowing for better international comparisons of economic output and living standards. The G-K method is a specific PPP calculation approach.
Methodology
The data is calculated by the World Bank using price survey information and national accounts data.
Historical Context
Policymakers and economists use this metric to evaluate Jamaica's economic performance and make cross-country comparisons.
Key Facts
- Jamaica's GDP per capita was $8,717 in 2021.
- GDP per capita in PPP terms is over 2.5 times higher than the official exchange rate measure.
- Jamaica ranks 110th globally in PPP GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Jamaica's GDP per capita, adjusted for differences in purchasing power between countries using the Geary-Khamis (G-K) method.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita provides a more accurate comparison of living standards and economic development across countries than the official exchange rate measure.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price survey information and national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate Jamaica's economic performance and make cross-country comparisons.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not fully capture rapid economic changes.
Related Trends
Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for South Africa
PPCGDPZAA620NUPN
Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Kuwait
PCDGDPKWA620NUPN
Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Namibia
PPCGDPNAA620NUPN
Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Tonga
PCDGDPTOA620NUPN
Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for United Arab Emirates
PCDGDPAEA620NUPN
Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Bhutan
PPCGDPBTA620NUPN
Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Jamaica (PPCGDPJMA620NUPN), retrieved from FRED.