Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Senegal
RGDPL2SNA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,465.31
Year-over-Year Change
19.55%
Date Range
1/1/1960 - 1/1/2010
Summary
This trend measures the purchasing power parity-adjusted gross domestic product per capita for Senegal, derived from growth rates of domestic absorption. It provides insight into the standard of living and economic productivity of the Senegalese 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
Purchasing power parity (PPP) conversion adjusts GDP to account for differences in price levels between countries, allowing for more accurate cross-country comparisons of economic output and living standards. This Laspeyres-type PPP-adjusted GDP per capita series for Senegal is a key metric used by economists and policymakers to evaluate the nation's economic development.
Methodology
The data is calculated by the World Bank using growth rates of domestic absorption.
Historical Context
This metric informs analyses of Senegal's macroeconomic performance and is relevant for international organizations, governments, and investors.
Key Facts
- Senegal's PPP-adjusted GDP per capita was $3,506 in 2021.
- GDP per capita growth in Senegal averaged 1.7% annually from 2010-2020.
- Senegal's economy is dominated by agriculture, fishing, and services sectors.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity-adjusted gross domestic product per capita for Senegal, which provides a more accurate assessment of the country's economic output and living standards compared to using nominal GDP.
Q: Why is this trend relevant for users or analysts?
A: This metric is important for evaluating Senegal's economic development and living standards relative to other countries, informing analyses by international organizations, governments, and investors.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using growth rates of domestic absorption to derive the PPP-adjusted GDP per capita for Senegal.
Q: How is this trend used in economic policy?
A: This metric informs analyses of Senegal's macroeconomic performance and is relevant for international organizations, governments, and investors evaluating the country's economic development and living standards.
Q: Are there update delays or limitations?
A: The data is subject to update delays, as the World Bank publishes PPP-adjusted GDP per capita estimates on an irregular basis.
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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 Senegal (RGDPL2SNA625NUPN), retrieved from FRED.