Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Marshall Islands
RGDPCHMHA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,896.37
Year-over-Year Change
-1.04%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures the purchasing power parity (PPP) adjusted gross domestic product (GDP) per capita in the Marshall Islands. It provides insights into the country's standard of living and economic development relative to other nations.
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 Marshall Islands is a metric that adjusts the country's GDP per capita to account for differences in purchasing power across countries. This allows for more accurate comparisons of living standards and economic productivity between the Marshall Islands and other nations.
Methodology
The data is calculated using exchange rates and price levels to convert GDP into a common currency and control for cost-of-living differences.
Historical Context
This trend is widely used by policymakers, international organizations, and economic analysts to evaluate the Marshall Islands' economic performance and development.
Key Facts
- The Marshall Islands' GDP per capita was $3,798 in 2021.
- GDP per capita in the Marshall Islands has grown by over 60% since 2000.
- The Marshall Islands ranks 148th globally in terms of PPP-adjusted GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power parity (PPP) adjusted gross domestic product (GDP) per capita in the Marshall Islands. It provides insights into the country's standard of living and economic development.
Q: Why is this trend relevant for users or analysts?
A: This trend is widely used by policymakers, international organizations, and economic analysts to evaluate the Marshall Islands' economic performance and development relative to other countries.
Q: How is this data collected or calculated?
A: The data is calculated using exchange rates and price levels to convert GDP into a common currency and control for cost-of-living differences.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the Marshall Islands' economic progress, compare its living standards to other nations, and inform economic development strategies.
Q: Are there update delays or limitations?
A: There may be delays in data availability, and the methodology used to calculate PPP-adjusted GDP per capita can have certain limitations in accurately capturing all cost-of-living differences across countries.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Marshall Islands (RGDPCHMHA625NUPN), retrieved from FRED.