Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Georgia
RGDPL2GEA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,836.73
Year-over-Year Change
96.59%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures Georgia's purchasing power parity (PPP) converted GDP per capita, which is a key indicator of a country's economic development and living standards.
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 metric adjusts for differences in price levels between countries, providing a more accurate comparison of living standards and productivity than market exchange rates. This data is widely used by economists, policymakers, and international organizations to assess economic performance and make informed decisions.
Methodology
The data is calculated by the World Bank using growth rates of domestic absorption and GDP.
Historical Context
This metric is crucial for evaluating Georgia's economic progress and comparing its development to other nations.
Key Facts
- Georgia's PPP-converted GDP per capita was $15,070 in 2021.
- This metric has grown by an average of 3.5% annually over the past decade.
- Georgia's GDP per capita is approximately 40% of the OECD average.
FAQs
Q: What does this economic trend measure?
A: This trend measures Georgia's purchasing power parity (PPP) converted GDP per capita, which adjusts for differences in price levels to provide a more accurate comparison of living standards and productivity.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for evaluating Georgia's economic progress and comparing its development to other nations, as it provides a more meaningful assessment of living standards than using market exchange rates alone.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using growth rates of domestic absorption and GDP.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to assess economic performance and make informed decisions about economic policy and development strategies.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the World Bank, and there may be some delay in the availability of the most recent figures.
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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 Georgia (RGDPL2GEA625NUPN), retrieved from FRED.