Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Nigeria
RGDPCHNGA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,695.45
Year-over-Year Change
50.85%
Date Range
1/1/1950 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Nigeria measures the economic output per person in Nigeria, adjusted for differences in purchasing power 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 provides a standardized measure of Nigeria's economic activity and living standards compared to other nations. It is a key indicator used by economists and policymakers to analyze Nigeria's economic development and competitiveness.
Methodology
The data is calculated by the World Bank using a purchasing power parity (PPP) conversion factor to adjust for price level differences across countries.
Historical Context
This metric is widely referenced in international economic analysis and policy discussions.
Key Facts
- Nigeria's GDP per capita was $5,861 in 2021.
- Nigeria's GDP per capita has grown by 42% since 2010.
- Nigeria accounts for over 47% of West Africa's total economic output.
FAQs
Q: What does this economic trend measure?
A: This metric measures Nigeria's GDP per capita adjusted for differences in purchasing power across countries, providing a standardized indicator of economic output and living standards.
Q: Why is this trend relevant for users or analysts?
A: This data is crucial for comparing Nigeria's economic performance and competitiveness to other nations, informing policymakers and analysts about the country's development.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a purchasing power parity (PPP) conversion factor to adjust Nigeria's GDP per capita for price level differences across countries.
Q: How is this trend used in economic policy?
A: This metric is widely referenced in international economic analysis and policy discussions, informing decisions about trade, investment, and development strategies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a slight delay, and may not fully capture short-term economic fluctuations.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Nigeria (RGDPCHNGA625NUPN), retrieved from FRED.