Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Bermuda
RGDPCHBMA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
45,866.49
Year-over-Year Change
21.65%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures the purchasing power-adjusted gross domestic product (GDP) per capita for Bermuda. It provides insights into the island's overall economic development and standard of living compared to other 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
The Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Bermuda is an important metric used by economists and policymakers to assess the relative economic well-being of Bermuda's population. It takes into account differences in the cost of living to provide a more accurate comparison of living standards across countries.
Methodology
The data is calculated using purchasing power parity (PPP) conversion factors to adjust for price level differences across countries.
Historical Context
This trend is widely used to evaluate Bermuda's economic performance and competitiveness in global markets.
Key Facts
- Bermuda has one of the highest GDP per capita in the world.
- The PPP-adjusted GDP per capita in Bermuda is over 3 times the global average.
- Bermuda's economy is heavily dependent on international business and tourism.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power-adjusted gross domestic product (GDP) per capita for Bermuda, providing insights into the island's overall economic development and standard of living.
Q: Why is this trend relevant for users or analysts?
A: This trend is widely used by economists and policymakers to evaluate Bermuda's economic performance and competitiveness in global markets, as well as to compare the country's living standards to other nations.
Q: How is this data collected or calculated?
A: The data is calculated using purchasing power parity (PPP) conversion factors to adjust for price level differences across countries.
Q: How is this trend used in economic policy?
A: This trend is used to assess Bermuda's economic development, competitiveness, and the overall standard of living of its population, which can inform policymaking and strategic decisions.
Q: Are there update delays or limitations?
A: The data is subject to update delays and may not capture the most recent economic conditions in Bermuda.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Bermuda (RGDPCHBMA625NUPN), retrieved from FRED.