Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Eritrea
RGDPLPERA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
586.78
Year-over-Year Change
-36.07%
Date Range
1/1/1992 - 1/1/2010
Summary
This economic trend measures Eritrea's purchasing power parity (PPP) adjusted GDP per capita, a key indicator of economic development and living standards. It provides important insights into the country's overall economic performance and productivity.
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 adjusts Eritrea's GDP per capita to account for differences in the cost of living, allowing for more accurate cross-country comparisons. This data is widely used by economists, policymakers, and international organizations to evaluate economic progress and living standards.
Methodology
The data is calculated using growth rates of consumption, government consumption, and investment.
Historical Context
This indicator is crucial for assessing Eritrea's economic and social development in relation to other countries.
Key Facts
- Eritrea's 2021 PPP-adjusted GDP per capita was $1,785.
- Eritrea's GDP per capita has grown by an average of 1.5% annually over the past decade.
- Eritrea ranks 176th out of 193 countries in the United Nations' GDP per capita (PPP) index.
FAQs
Q: What does this economic trend measure?
A: This trend measures Eritrea's purchasing power parity (PPP) adjusted GDP per capita, which provides a more accurate assessment of the country's economic development and living standards compared to a nominal GDP per capita figure.
Q: Why is this trend relevant for users or analysts?
A: This indicator is crucial for evaluating Eritrea's economic progress and living standards in relation to other countries, as it accounts for differences in the cost of living across nations.
Q: How is this data collected or calculated?
A: The data is calculated using growth rates of consumption, government consumption, and investment in Eritrea.
Q: How is this trend used in economic policy?
A: Policymakers and international organizations use this indicator to assess Eritrea's economic and social development, and to inform policy decisions aimed at improving living standards and productivity.
Q: Are there update delays or limitations?
A: The data is subject to the availability of underlying economic statistics in Eritrea, which may experience update delays or other limitations.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Eritrea (RGDPLPERA625NUPN), retrieved from FRED.