Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Guyana
RGDPL2GYA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,472.47
Year-over-Year Change
44.16%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for Guyana, derived from growth rates of domestic absorption. It provides insight into the standard of living and economic productivity of the country.
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) for Guyana is a key indicator of the nation's economic development and living standards. It accounts for differences in the cost of living between countries, allowing for more accurate cross-country comparisons of material well-being.
Methodology
The data is calculated based on growth rates of domestic absorption, a measure of overall economic activity.
Historical Context
This metric is widely used by policymakers, international organizations, and analysts to evaluate Guyana's economic performance and progress.
Key Facts
- Guyana's PPP-converted GDP per capita was $8,462 in 2021.
- The metric has grown at an average annual rate of 3.2% over the past decade.
- Guyana's PPP-converted GDP per capita is about 20% 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 Guyana, which accounts for differences in the cost of living to provide a more accurate assessment of the country's economic productivity and living standards.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita is a widely used metric for evaluating a country's economic development and comparing living standards across nations. It provides valuable insights for policymakers, international organizations, and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated based on growth rates of domestic absorption, a measure of overall economic activity in Guyana.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, international organizations, and analysts to assess Guyana's economic performance and progress, informing policy decisions and economic strategies.
Q: Are there update delays or limitations?
A: The data is subject to occasional delays in reporting, and the accuracy may be influenced by factors like exchange rate fluctuations and changes in domestic price levels.
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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 Guyana (RGDPL2GYA625NUPN), retrieved from FRED.