Purchasing Power Parity over GDP for Vietnam
PPPTTLVNA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,793.79
Year-over-Year Change
74.80%
Date Range
1/1/1970 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Vietnam measures the purchasing power of the Vietnamese currency relative to the United States dollar, providing insights into the country's economic development and living standards.
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 economic trend represents the ratio of Vietnam's GDP based on purchasing power parity (PPP) to its GDP measured at official exchange rates. It offers a more accurate comparison of living standards and productivity across countries by accounting for differences in prices and cost of living.
Methodology
The data is calculated by the World Bank based on national accounts and exchange rate information.
Historical Context
Economists and policymakers use this metric to assess Vietnam's economic competitiveness and living standards in a global context.
Key Facts
- Vietnam's PPP-adjusted GDP per capita was $8,916 in 2021.
- The PPP over GDP ratio for Vietnam was 1.7 in 2021, indicating its currency is undervalued.
- Vietnam's PPP-adjusted GDP grew by 2.6% in 2021 despite the COVID-19 pandemic.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Vietnam measures the purchasing power of the Vietnamese currency relative to the U.S. dollar, providing insights into the country's economic development and living standards.
Q: Why is this trend relevant for users or analysts?
A: This metric offers a more accurate comparison of Vietnam's living standards and productivity compared to other countries by accounting for differences in prices and cost of living, which is crucial for economists and policymakers assessing the country's economic competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank based on national accounts and exchange rate information.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess Vietnam's economic competitiveness and living standards in a global context, which informs policy decisions related to trade, investment, and economic development.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Vietnam (PPPTTLVNA618NUPN), retrieved from FRED.