Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Vietnam
PPCGDPVNA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,194.07
Year-over-Year Change
164.46%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures Vietnam's Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita using the Geary-Khamis (G-K) method at current prices. It provides insights into the country's economic productivity and living standards relative to other nations.
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 GDP to account for differences in the cost of living between countries, enabling more accurate cross-country comparisons of economic output and development. The G-K method is a widely used approach for calculating PPP that considers a broader basket of goods and services.
Methodology
The data is collected and calculated by the World Bank using national accounts and price survey information.
Historical Context
This trend is valuable for economists, policymakers, and investors to assess Vietnam's economic performance and living standards in a global context.
Key Facts
- Vietnam's PPP-adjusted GDP per capita was $8,305 in 2021.
- Vietnam's economy has grown rapidly in recent decades, transitioning from a low-income to a middle-income country.
- PPP-adjusted GDP per capita is a more accurate measure of living standards than nominal GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures Vietnam's Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita, which adjusts for differences in the cost of living to enable cross-country comparisons of economic productivity and living standards.
Q: Why is this trend relevant for users or analysts?
A: This trend provides valuable insights into Vietnam's economic development and living standards relative to other countries, which is important for economists, policymakers, and investors analyzing the country's economic performance and potential.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using national accounts and price survey information.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and investors use this trend to assess Vietnam's economic productivity and living standards in a global context, which informs policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is subject to the availability of national accounts and price survey information, which can result in occasional update delays.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Vietnam (PPCGDPVNA620NUPN), retrieved from FRED.