Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Marshall Islands
PPCGDPMHA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,862.47
Year-over-Year Change
33.12%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures the purchasing power parity (PPP) converted GDP per capita for the Marshall Islands using the Geary-Khamis (G-K) method and current prices.
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 for differences in price levels between countries, allowing for more accurate comparisons of living standards and economic productivity. The G-K method is a widely used PPP calculation approach.
Methodology
The data is collected and calculated by the World Bank.
Historical Context
This trend is used by economists, policymakers, and international organizations to evaluate and compare economic development across countries.
Key Facts
- Marshall Islands' PPP-adjusted GDP per capita was $5,443 in 2021.
- The Marshall Islands has a small, service-based economy largely dependent on foreign aid.
- This metric enables cross-country living standard comparisons after accounting for price level differences.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power parity (PPP) converted GDP per capita for the Marshall Islands, which adjusts for differences in price levels between countries.
Q: Why is this trend relevant for users or analysts?
A: This metric enables more accurate comparisons of living standards and economic productivity across countries by accounting for price level differences.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using the Geary-Khamis (G-K) method, a widely used PPP calculation approach.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and international organizations to evaluate and compare economic development across countries.
Q: Are there update delays or limitations?
A: The World Bank updates this data annually, with a potential delay of up to 2 years.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Marshall Islands (PPCGDPMHA620NUPN), retrieved from FRED.