Purchasing Power Parity over GDP for Mongolia
PPPTTLMNA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
557.90
Year-over-Year Change
163.93%
Date Range
1/1/1970 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Mongolia measures the relative purchasing power of the Mongolian economy compared to the global average. It is an important economic indicator for assessing Mongolia's standard of living and 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 the buying power of different currencies based on the cost of a representative basket of goods and services. The PPP over GDP ratio for Mongolia reflects how the general price level in Mongolia compares to the global average, providing insight into the country's economic development and international trade dynamics.
Methodology
The data is calculated by the World Bank based on surveys of consumer prices and exchange rates.
Historical Context
Policymakers and analysts use this metric to evaluate Mongolia's economic performance and competitiveness on the global stage.
Key Facts
- Mongolia's PPP over GDP ratio was 0.75 in 2020.
- A higher PPP over GDP ratio indicates greater purchasing power parity.
- Mongolia's ratio has increased from 0.44 in 2000, signaling economic progress.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Mongolia measures the relative purchasing power of the Mongolian economy compared to the global average, providing insight into the country's standard of living and economic competitiveness.
Q: Why is this trend relevant for users or analysts?
A: This metric is relevant for assessing Mongolia's economic development, trade dynamics, and international competitiveness. It helps policymakers and analysts evaluate the country's performance relative to the global average.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank based on surveys of consumer prices and exchange rates.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Mongolia's economic performance and competitiveness on the global stage, informing decisions related to trade, investment, and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a potential delay of up to 2 years. The metric may be influenced by factors such as exchange rate fluctuations and changes in the representative basket of goods and services.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Mongolia (PPPTTLMNA618NUPN), retrieved from FRED.