Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Mongolia
RGDPL2MNA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,632.51
Year-over-Year Change
73.02%
Date Range
1/1/1970 - 1/1/2010
Summary
This trend measures the purchasing power parity (PPP) converted GDP per capita for Mongolia, derived from growth rates of domestic absorption. It provides insight into the economic productivity and living standards of the Mongolian population.
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) is an important metric for cross-country comparisons of economic output and living standards. It adjusts for differences in price levels between countries, offering a more accurate representation of real incomes and purchasing power.
Methodology
The data is calculated by the World Bank using growth rates of domestic absorption.
Historical Context
This indicator is widely used by economists, policymakers, and international organizations to analyze and benchmark Mongolia's economic development.
Key Facts
- Mongolia's PPP-converted GDP per capita was $13,462 in 2021.
- This metric has grown by an average of 4.8% annually over the past decade.
- Mongolia ranks 110th globally in terms of PPP-converted GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Mongolia, which adjusts for differences in price levels to provide a more accurate representation of real incomes and living standards.
Q: Why is this trend relevant for users or analysts?
A: This indicator is widely used by economists, policymakers, and international organizations to analyze and benchmark Mongolia's economic development and living standards relative to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using growth rates of domestic absorption.
Q: How is this trend used in economic policy?
A: This PPP-converted GDP per capita metric is used by policymakers, international institutions, and analysts to assess Mongolia's economic performance and guide policy decisions aimed at promoting sustainable growth and improving living standards.
Q: Are there update delays or limitations?
A: The data is subject to some update delays, as it relies on the World Bank's calculations based on growth rates of domestic absorption, which may not be immediately available.
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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 Mongolia (RGDPL2MNA625NUPN), retrieved from FRED.