Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Senegal
PPCGDPSNA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,657.73
Year-over-Year Change
55.39%
Date Range
1/1/1960 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) adjusted gross domestic product (GDP) per capita for Senegal. It provides a standardized metric for comparing living standards and economic productivity across countries.
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 accounts for differences in the cost of living between countries, allowing for more accurate cross-country comparisons of economic output and standards of living than using nominal exchange rates alone.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, a widely adopted international standard for PPP conversion.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess a country's economic development and living standards relative to its peers.
Key Facts
- Senegal's PPP-adjusted GDP per capita was $3,462 in 2021.
- Senegal's PPP GDP per capita is roughly 10% of the global average.
- PPP adjustments account for differences in the cost of living across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) adjusted gross domestic product (GDP) per capita for Senegal, providing a standardized metric for comparing living standards and economic productivity across countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita metric allows for more accurate cross-country comparisons of economic output and living standards than using nominal exchange rates alone, making it a widely used indicator by economists, policymakers, and international organizations.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, a widely adopted international standard for PPP conversion.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and international organizations to assess a country's economic development and living standards relative to its peers, informing policy decisions and comparisons.
Q: Are there update delays or limitations?
A: There may be some time lag in the availability of the latest data, as compiling comprehensive PPP-adjusted GDP statistics can take time. Users should check the release schedule for the most up-to-date information.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Senegal (PPCGDPSNA620NUPN), retrieved from FRED.