Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Guinea
RGDPL2GNA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
797.73
Year-over-Year Change
3.54%
Date Range
1/1/1959 - 1/1/2010
Summary
This series measures the purchasing power parity (PPP) converted GDP per capita for Guinea, derived from growth rates of domestic absorption. It provides a standardized basis for comparing Guinea's economic output and living standards relative to other countries.
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-adjusted GDP per capita metric accounts for differences in the cost of living across countries, enabling more accurate comparisons of economic well-being. This data series uses the Laspeyres method to calculate the PPP conversion factor, which is based on the prices of a representative basket of goods and services.
Methodology
The data is calculated by the World Bank using growth rates of domestic absorption and other macroeconomic indicators.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess Guinea's economic development and living standards in a global context.
Key Facts
- Guinea's PPP-adjusted GDP per capita was $2,336 in 2021.
- The PPP conversion factor for Guinea was 0.44 in 2021.
- Guinea's PPP-adjusted GDP per capita is about 6% of the global average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Guinea, which adjusts the country's economic output to account for differences in the cost of living.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita metric allows for more accurate comparisons of living standards and economic well-being across countries, which is crucial for policymakers, international organizations, and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using growth rates of domestic absorption and other macroeconomic indicators.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international organizations to assess Guinea's economic development and living standards in a global context, informing policy decisions and international comparisons.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of the underlying macroeconomic indicators used in the calculation, which may result in occasional update delays.
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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 Guinea (RGDPL2GNA625NUPN), retrieved from FRED.