Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Trinidad and Tobago
RGDPCHTTA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30,749.35
Year-over-Year Change
141.19%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity converted gross domestic product (GDP) per capita for Trinidad and Tobago. It provides insights into the country's economic development and living standards compared 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 (PPP) converted GDP per capita metric adjusts the GDP to account for differences in the cost of living across countries, enabling more accurate comparisons of living standards. This data series is a useful indicator of a country's economic performance and development over time.
Methodology
The data is calculated by the World Bank using exchange rates and price levels to convert GDP into a common currency and adjust for purchasing power differences.
Historical Context
Policymakers and economists use this metric to assess a country's economic progress and living standards relative to its peers.
Key Facts
- Trinidad and Tobago's 2021 PPP-adjusted GDP per capita was $32,850.
- The country's PPP-adjusted GDP per capita has grown by over 50% since 2000.
- Trinidad and Tobago's PPP-adjusted GDP per capita is higher than the global average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Trinidad and Tobago. It adjusts the GDP to account for differences in the cost of living across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate comparison of living standards and economic development across countries than unadjusted GDP per capita, as it takes into account the purchasing power of a nation's currency.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using exchange rates and price levels to convert GDP into a common currency and adjust for purchasing power differences.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess a country's economic progress and living standards relative to its peers, which can inform policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a delay of approximately one year, 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 Trinidad and Tobago (RGDPCHTTA625NUPN), retrieved from FRED.