Purchasing Power Parity over GDP for Guinea
PPPTTLGNA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,662.55
Year-over-Year Change
208.48%
Date Range
1/1/1959 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Guinea measures the purchasing power of the Guinean currency relative to the United States dollar, providing insights into the country's economic development and standard of living.
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 metric compares the purchasing power of the Guinean currency to the U.S. dollar, adjusting for differences in the cost of living between the two countries. It offers a more accurate representation of Guinea's economic output and can be used to evaluate the country's economic progress over time.
Methodology
The data is calculated by the World Bank using price surveys and other statistical methods.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to assess Guinea's economic performance and competitiveness.
Key Facts
- Guinea's purchasing power parity over GDP was 0.618 in 2020.
- This metric has remained relatively stable over the past decade.
- Purchasing power parity is an important indicator of a country's standard of living.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Guinea measures the purchasing power of the Guinean currency relative to the U.S. dollar, adjusting for differences in the cost of living between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate representation of Guinea's economic output and can be used to evaluate the country's economic progress over time, as well as its competitiveness compared to other economies.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and other statistical methods.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to assess Guinea's economic performance and competitiveness, informing policy decisions and investment strategies.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, with a potential delay of several months. There may be some limitations in data collection or comparability across countries.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Guinea (PPPTTLGNA618NUPN), retrieved from FRED.