Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Marshall Islands
RGDPL2MHA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,895.23
Year-over-Year Change
-1.10%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures the purchasing power parity (PPP) adjusted gross domestic product (GDP) per capita for the Marshall Islands, derived from growth rates of domestic absorption. It provides insights into the country's overall 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 Purchasing Power Parity Converted GDP Per Capita (Laspeyres) metric for the Marshall Islands adjusts the country's GDP per capita to account for differences in purchasing power across economies. This allows for more accurate cross-country comparisons of living standards and economic well-being.
Methodology
The data is calculated using the Laspeyres index method based on growth rates of domestic absorption.
Historical Context
This trend is widely used by policymakers, economists, and international organizations to assess the Marshall Islands' economic performance and development progress.
Key Facts
- The Marshall Islands' GDP per capita was $3,798 in 2020 on a PPP-adjusted basis.
- The country's PPP-adjusted GDP per capita has grown by an average of 1.3% annually over the past decade.
- Compared to other Pacific island nations, the Marshall Islands has a relatively high standard of living.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) adjusted gross domestic product (GDP) per capita for the Marshall Islands, which provides a more accurate assessment of the country's living standards and economic development.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for understanding the Marshall Islands' economic performance and living standards relative to other countries, as it accounts for differences in purchasing power and cost of living.
Q: How is this data collected or calculated?
A: The data is calculated using the Laspeyres index method based on growth rates of domestic absorption.
Q: How is this trend used in economic policy?
A: Policymakers, economists, and international organizations use this trend to assess the Marshall Islands' economic development and formulate policies to improve living standards and promote growth.
Q: Are there update delays or limitations?
A: The data is subject to update delays, as it relies on the availability of underlying domestic absorption growth rate information for the Marshall Islands.
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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 Marshall Islands (RGDPL2MHA625NUPN), retrieved from FRED.