Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Canada
RGDPL2CAA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
37,235.43
Year-over-Year Change
20.47%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for Canada, derived from growth rates of domestic absorption. It provides insights into the country's economic productivity and living standards relative 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 PPP-converted GDP per capita (Laspeyres) is an indicator of a country's economic development and living standards. It adjusts the nominal GDP per capita to account for differences in price levels between countries, allowing for more accurate cross-country comparisons.
Methodology
The data is calculated by the World Bank using growth rates of domestic absorption.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to analyze and compare economic performance across countries.
Key Facts
- Canada's PPP-converted GDP per capita was $50,149 in 2021.
- The metric has increased by an average of 1.4% annually over the past decade.
- Canada ranks among the top 10 countries globally in terms of PPP-adjusted GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Canada, which adjusts the country's nominal GDP per capita to account for differences in price levels and allows for more accurate international comparisons.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita is a key indicator of a country's economic development and living standards, providing valuable insights for economists, policymakers, and international organizations comparing economic performance across nations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using growth rates of domestic absorption.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to analyze and compare economic performance and living standards across countries, informing policy decisions and economic strategies.
Q: Are there update delays or limitations?
A: The data is updated annually, with a potential delay of several months. Users should be aware of this when analyzing the most recent economic conditions.
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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 Canada (RGDPL2CAA625NUPN), retrieved from FRED.