Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Australia
RGDPL2AUA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
40,994.07
Year-over-Year Change
24.57%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita for Australia, derived from growth rates of domestic absorption. It provides insights into the country's economic productivity and standard of living.
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 (Laspeyres) is an important measure that allows for cross-country comparisons of economic output and living standards. It adjusts GDP per capita for differences in price levels between countries, providing a more accurate assessment of relative prosperity.
Methodology
The data is calculated using the Laspeyres method, which applies fixed base-year price weights to current-year quantities.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to analyze and compare the economic performance and development of different countries.
Key Facts
- Australia's GDP per capita based on PPP was $54,400 in 2021.
- Australia's PPP-adjusted GDP per capita is among the highest in the world.
- The Laspeyres method is used to calculate this metric to ensure accurate cross-country comparisons.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita for Australia, adjusted for differences in price levels between countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate assessment of Australia's economic productivity and living standards compared to other countries, enabling better cross-country comparisons and analysis.
Q: How is this data collected or calculated?
A: The data is calculated using the Laspeyres method, which applies fixed base-year price weights to current-year quantities.
Q: How is this trend used in economic policy?
A: This indicator is widely used by economists, policymakers, and international organizations to analyze and compare the economic performance and development of different countries, informing policy decisions.
Q: Are there update delays or limitations?
A: The data may be subject to periodic updates and revisions, and there may be some inherent limitations in the Laspeyres methodology used to calculate the metric.
Related Trends
Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Egypt
RGDPL2EGA625NUPN
Purchasing Power Parity Converted GDP Per Capita (Chain Series) for India
RGDPCHINA625NUPN
Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Panama
RGDPLPPAA625NUPN
Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Bulgaria
RGDPCHBGA625NUPN
Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Bangladesh
RGDPL2BDA625NUPN
Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Jamaica
RGDPL2JMA625NUPN
Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Australia (RGDPL2AUA625NUPN), retrieved from FRED.