Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Georgia
RGDPCHGEA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,100.64
Year-over-Year Change
100.35%
Date Range
1/1/1993 - 1/1/2010
Summary
This trend measures the purchasing power parity (PPP) converted GDP per capita for the country of Georgia. It provides insight into the economic productivity and living standards of the Georgian population.
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 PPP-converted GDP per capita series adjusts the standard GDP per capita metric to account for differences in purchasing power between countries, allowing for more accurate international comparisons of economic well-being. This is a key indicator used by economists and policymakers to assess a country's economic development and living standards.
Methodology
The data is calculated by the World Bank using exchange rates and price level surveys to convert GDP into a common currency and adjust for price level differences.
Historical Context
Trends in this metric are closely watched by institutions like the IMF and World Bank to inform economic policy decisions and development strategies.
Key Facts
- Georgia's 2021 PPP-adjusted GDP per capita was $14,850.
- The metric has grown by over 60% since 2000.
- Georgia ranks 91st globally in PPP-adjusted GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for the country of Georgia. It provides a more accurate assessment of the economic productivity and living standards of the Georgian population compared to a standard GDP per capita metric.
Q: Why is this trend relevant for users or analysts?
A: This metric is highly relevant for economists, policymakers, and investors as it allows for more meaningful cross-country comparisons of economic well-being and development. Trends in this data point can inform decisions around economic policies, foreign investment, and development strategies.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using exchange rates and price level surveys to convert GDP into a common currency and adjust for price level differences between countries.
Q: How is this trend used in economic policy?
A: Trends in this PPP-adjusted GDP per capita metric are closely watched by institutions like the IMF and World Bank to inform economic policy decisions and development strategies for countries like Georgia.
Q: Are there update delays or limitations?
A: The data is published annually with some delay, typically 1-2 years after the reference year. There may also be limitations in data quality or comparability for some countries.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Georgia (RGDPCHGEA625NUPN), retrieved from FRED.