Purchasing Power Parity over GDP for Guyana
PPPTTLGYA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
119.48
Year-over-Year Change
54.43%
Date Range
1/1/1950 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Guyana measures the relative strength of the Guyanese economy compared to other countries. It is an important economic indicator used by policymakers and analysts to assess 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 an economic theory that measures the relative purchasing power of different currencies. The PPP over GDP ratio for Guyana compares the Guyanese dollar's purchasing power to the U.S. dollar, providing insights into the country's cost of living and international trade dynamics.
Methodology
The data is calculated by the World Bank using price surveys and national accounts data.
Historical Context
Policymakers and economists use this metric to evaluate Guyana's economic performance and development relative to other nations.
Key Facts
- Guyana's PPP over GDP ratio was 0.47 in 2020.
- A higher PPP ratio indicates a country's goods and services are more affordable relative to the U.S.
- Guyana's PPP ratio has remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Guyana measures the relative purchasing power of the Guyanese dollar compared to the U.S. dollar, providing insights into the country's cost of living and international trade competitiveness.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for policymakers and economists to evaluate Guyana's economic performance and development relative to other nations, as it offers insights into the country's standard of living and trade dynamics.
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 and economists use the Purchasing Power Parity over GDP for Guyana to assess the country's economic competitiveness and inform decisions related to trade, investment, and development policies.
Q: Are there update delays or limitations?
A: The Purchasing Power Parity over GDP data for Guyana is updated annually by the World Bank, and there may be some delay in the most recent data being available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Guyana (PPPTTLGYA618NUPN), retrieved from FRED.