Purchasing Power Parity over GDP for the Gambia
PPPTTLGMA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.37
Year-over-Year Change
43.35%
Date Range
1/1/1960 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for the Gambia measures the ratio of a country's purchasing power parity to its nominal GDP. This important economic indicator provides insights into a country's standard of living and international trade competitiveness.
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 metric that compares different countries' currencies through a 'basket' of goods. The PPP over GDP ratio shows how a country's living standards and trade position differ from what its nominal GDP would suggest.
Methodology
The data is calculated by the World Bank using price surveys and national accounts data.
Historical Context
Policymakers use this indicator to assess a country's economic development and international trade position.
Key Facts
- The Gambia's PPP over GDP ratio was 0.537 in 2021.
- A higher PPP over GDP ratio indicates a country has a higher standard of living.
- The Gambia's ratio is below the global average, suggesting its living standards lag its nominal GDP.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for the Gambia measures the ratio of the country's purchasing power parity to its nominal GDP.
Q: Why is this trend relevant for users or analysts?
A: This indicator provides insights into the Gambia's standard of living and international trade competitiveness compared to what its nominal GDP would suggest.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers use this indicator to assess the Gambia's economic development and international trade position.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with some potential delays in reporting.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for the Gambia (PPPTTLGMA618NUPN), retrieved from FRED.