Purchasing Power Parity over GDP for Senegal
PPPTTLSNA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
311.31
Year-over-Year Change
1.14%
Date Range
1/1/1960 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Senegal measures the relative purchasing power of the Senegalese economy compared to the global average. This metric is important for economists and policymakers to assess Senegal's economic competitiveness 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
Purchasing Power Parity (PPP) is an economic theory and measurement that compares different countries' currencies through a 'basket' of goods. The PPP over GDP ratio for Senegal shows how the real purchasing power of the Senegalese economy compares to the global average, providing insight into the country's economic development and cost of living.
Methodology
The data is calculated by the World Bank using price surveys and GDP figures.
Historical Context
Policymakers and international institutions use this metric to evaluate Senegal's economic performance and living standards.
Key Facts
- Senegal's PPP over GDP ratio was 0.618 in 2020.
- A PPP ratio below 1 indicates lower purchasing power compared to the global average.
- Senegal's PPP ratio has remained below 1 for the past decade.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity (PPP) over GDP for Senegal measures the relative purchasing power of the Senegalese economy compared to the global average.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Senegal's economic development and competitiveness, as well as the cost of living in the country compared to the global standard.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and GDP figures.
Q: How is this trend used in economic policy?
A: Policymakers and international institutions use this metric to evaluate Senegal's economic performance and living standards.
Q: Are there update delays or limitations?
A: The data is published annually with a slight delay, and may not capture rapid economic changes within a given year.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Senegal (PPPTTLSNA618NUPN), retrieved from FRED.