Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Sierra Leone
PPCGDPSLA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,032.74
Year-over-Year Change
120.63%
Date Range
1/1/1961 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Sierra Leone measures the economic output and living standards of the country's population, which is crucial for policymakers and analysts to understand development trends.
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
This economic indicator provides a standardized measure of Sierra Leone's gross domestic product (GDP) per person, adjusted for differences in purchasing power across countries. It offers a more accurate comparison of living standards than using exchange rate-converted GDP.
Methodology
The data is calculated by the World Bank using the Geary-Khamis 'international dollar' method to convert local currency GDP.
Historical Context
This metric is widely used by economists, governments, and international organizations to assess economic performance and living conditions.
Key Facts
- Sierra Leone's GDP per capita in 2021 was $1,359.
- This represents a 3.2% increase from 2020.
- The country ranks 179th globally in GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output of Sierra Leone divided by its population, adjusted for differences in purchasing power compared to other countries.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides a more accurate comparison of living standards and economic development in Sierra Leone relative to other nations, which is crucial for policymakers and researchers.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis 'international dollar' method to convert Sierra Leone's GDP from local currency to a standardized purchasing power parity basis.
Q: How is this trend used in economic policy?
A: This metric is widely used by governments, international organizations, and economists to assess Sierra Leone's economic performance, living conditions, and development progress relative to its global peers.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a 1-2 year lag, so the most recent figures may not fully reflect the current economic situation.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Sierra Leone (PPCGDPSLA620NUPN), retrieved from FRED.