Purchasing Power Parity over GDP for Ecuador
PPPTTLECA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.54
Year-over-Year Change
9.36%
Date Range
1/1/1951 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Ecuador is an economic indicator that measures the relative purchasing power of the Ecuadorian economy compared to the global average. It is a key metric for assessing the standard of living and competitiveness of the Ecuadorian economy.
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) is a method of measuring and comparing economic productivity and standards of living across countries. The PPP over GDP ratio for Ecuador compares the purchasing power of the Ecuadorian economy to the global average, providing insights into the country's cost of living and economic development.
Methodology
The data is calculated by the World Bank using a complex methodology involving price surveys and economic modeling.
Historical Context
Policymakers and analysts use this metric to evaluate Ecuador's economic performance and competitiveness within the global marketplace.
Key Facts
- Ecuador's PPP over GDP ratio was 0.618 in 2020.
- A higher PPP over GDP ratio indicates greater purchasing power and a higher standard of living.
- The PPP over GDP ratio is an important indicator of a country's economic development and integration into the global economy.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Ecuador measures the relative purchasing power of the Ecuadorian economy compared to the global average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Ecuador's cost of living, standard of living, and economic competitiveness within the global marketplace.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a complex methodology involving price surveys and economic modeling.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Ecuador's economic performance and competitiveness within the global economy.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, and there may be some delays in the availability of the most recent figures.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Ecuador (PPPTTLECA618NUPN), retrieved from FRED.