Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Panama
RGDPCHPAA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10,857.09
Year-over-Year Change
60.39%
Date Range
1/1/1950 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Panama measures the total economic output of Panama adjusted for differences in purchasing power between countries. This metric is crucial for comparing living standards and productivity across 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
This indicator represents the total value of goods and services produced in Panama, divided by the country's population and adjusted for price level differences. It is a more accurate measure of economic well-being than nominal GDP per capita, as it accounts for the cost of living in Panama relative to other countries.
Methodology
The data is calculated by the World Bank using a complex methodology that includes price surveys and econometric modeling.
Historical Context
Policymakers and analysts use this metric to assess Panama's economic development and living standards in a global context.
Key Facts
- Panama's GDP per capita (PPP) was $25,206 in 2021.
- Panama's GDP per capita (PPP) has grown by 44% since 2010.
- Panama ranks 58th globally in GDP per capita (PPP) as of 2021.
FAQs
Q: What does this economic trend measure?
A: This metric measures the total economic output of Panama, adjusted for differences in purchasing power between countries. It provides a more accurate comparison of living standards and productivity than nominal GDP per capita.
Q: Why is this trend relevant for users or analysts?
A: This indicator is crucial for assessing Panama's economic development and living standards in a global context. It allows for more meaningful comparisons of economic well-being across nations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a complex methodology that includes price surveys and econometric modeling.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Panama's economic performance and living standards relative to other countries, informing policy decisions and economic assessments.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 year lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Panama (RGDPCHPAA625NUPN), retrieved from FRED.