Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Barbados
RGDPCHBBA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
28,088.54
Year-over-Year Change
3.17%
Date Range
1/1/1960 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Barbados measures the total economic output of Barbados adjusted for differences in purchasing power, providing a more accurate comparison of living standards across countries.
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 series, published by the World Bank, tracks the inflation-adjusted gross domestic product per person in Barbados, taking into account variations in the cost of living. It is a key indicator for assessing the overall economic development and relative prosperity of the country.
Methodology
The data is calculated using purchasing power parity (PPP) exchange rates to convert GDP into a common currency, providing a more representative comparison of living standards.
Historical Context
Policymakers and international organizations use this metric to evaluate economic performance and guide policy decisions.
Key Facts
- Barbados' GDP per capita was $17,785 in 2021.
- GDP per capita in Barbados has grown by over 50% since 2000.
- Barbados ranks 59th globally in terms of GDP per capita (PPP).
FAQs
Q: What does this economic trend measure?
A: This trend measures the total economic output of Barbados, adjusted for differences in purchasing power, to provide a more accurate comparison of living standards across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for evaluating the overall economic development and relative prosperity of Barbados, and is used by policymakers and international organizations to guide policy decisions.
Q: How is this data collected or calculated?
A: The data is calculated using purchasing power parity (PPP) exchange rates to convert GDP into a common currency, providing a more representative comparison of living standards.
Q: How is this trend used in economic policy?
A: Policymakers and international organizations use this metric to evaluate economic performance and guide policy decisions related to economic development, living standards, and international comparisons.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a potential delay of several months between the end of the reference year and the release of the updated figures.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Barbados (RGDPCHBBA625NUPN), retrieved from FRED.