Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Bolivia
RGDPL2BOA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,780.00
Year-over-Year Change
18.54%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures purchasing power parity (PPP) adjusted gross domestic product (GDP) per capita for Bolivia, derived from growth rates of domestic absorption. It provides insights into the standard of living and economic productivity of the Bolivian population.
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 PPP-converted GDP per capita (Laspeyres) metric adjusts traditional GDP per capita to account for differences in purchasing power across countries, offering a more accurate comparison of living standards. This series uses the Laspeyres index method and is derived from growth rates of domestic absorption, which include consumption, investment, and government spending.
Methodology
The data is calculated by the World Bank using a sophisticated PPP conversion process.
Historical Context
This metric is widely used by economists, policymakers, and international institutions to analyze economic development and compare living standards across countries.
Key Facts
- Bolivia's PPP-adjusted GDP per capita was $7,336 in 2021.
- This metric has grown at an average annual rate of 2.8% over the past decade.
- PPP adjustments are crucial for accurately comparing living standards across countries with different price levels.
FAQs
Q: What does this economic trend measure?
A: This trend measures purchasing power parity (PPP) adjusted gross domestic product (GDP) per capita for Bolivia, derived from growth rates of domestic absorption. It provides insights into the standard of living and economic productivity of the Bolivian population.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and international institutions to analyze economic development and compare living standards across countries. The PPP adjustment is crucial for accurately assessing and comparing the purchasing power and standard of living in Bolivia relative to other nations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a sophisticated PPP conversion process.
Q: How is this trend used in economic policy?
A: This metric is used by economists, policymakers, and international institutions to assess economic development, compare living standards across countries, and inform policy decisions related to economic growth and social welfare.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological updates of the World Bank, which publishes the PPP-adjusted GDP per capita figures annually with a lag.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Bolivia (RGDPL2BOA625NUPN), retrieved from FRED.