Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Ireland
RGDPL2IEA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
35,656.64
Year-over-Year Change
24.05%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures Ireland's per capita gross domestic product (GDP) adjusted for differences in purchasing power across countries. It is a key indicator for comparing living standards and economic development between 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 purchasing power parity (PPP) converted GDP per capita (Laspeyres) metric adjusts Ireland's GDP to account for price level differences, providing a more accurate basis for international comparisons. It is derived from growth rates of domestic absorption, a measure of total domestic demand.
Methodology
The data is calculated by the World Bank using a Laspeyres index formula based on price surveys and national accounts information.
Historical Context
This PPP-adjusted GDP per capita trend is widely used by economists, policymakers, and international institutions to evaluate economic performance and living standards across countries.
Key Facts
- Ireland's 2021 PPP-adjusted GDP per capita was $105,462.
- This metric has grown by an average of 3.4% annually over the past decade.
- Ireland ranks among the highest globally in PPP-adjusted GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures Ireland's gross domestic product (GDP) per capita, adjusted for differences in purchasing power across countries using a PPP (purchasing power parity) conversion.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita is a key indicator for comparing living standards and economic development between nations, providing a more accurate basis for international comparisons than unadjusted GDP per capita.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a Laspeyres index formula based on price surveys and national accounts information.
Q: How is this trend used in economic policy?
A: This PPP-adjusted GDP per capita trend is widely used by economists, policymakers, and international institutions to evaluate economic performance and living standards across countries.
Q: Are there update delays or limitations?
A: The data is subject to update delays, as it relies on national accounts information and price surveys from various sources.
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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 Ireland (RGDPL2IEA625NUPN), retrieved from FRED.