Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Oman
RGDPCHOMA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
22,389.90
Year-over-Year Change
29.16%
Date Range
1/1/1970 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Oman measures the economic output per person in Oman, adjusted for differences in purchasing power across countries. This metric is crucial for international economic comparisons.
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 represents Oman's GDP per capita, which is a key indicator of the country's economic development and living standards. Purchasing power parity (PPP) adjusts the data to account for cost-of-living differences, providing a more accurate picture of relative prosperity.
Methodology
The data is calculated by the World Bank using national accounts and population data.
Historical Context
Policymakers and analysts use this metric to evaluate Oman's economic performance and competitiveness within the global economy.
Key Facts
- Oman's GDP per capita on a PPP basis was $49,700 in 2021.
- Oman's GDP per capita has grown by over 60% since 2000.
- Oman is classified as a high-income economy by the World Bank.
FAQs
Q: What does this economic trend measure?
A: This metric measures Oman's GDP per capita, adjusted for differences in purchasing power across countries using a purchasing power parity (PPP) conversion.
Q: Why is this trend relevant for users or analysts?
A: This data provides a more accurate comparison of living standards and economic development in Oman relative to other countries, which is crucial for international economic analysis and policymaking.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and population data.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Oman's economic performance and competitiveness within the global economy.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, with a potential delay of up to two years.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Oman (RGDPCHOMA625NUPN), retrieved from FRED.