Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for the Gambia
RGDPLPGMA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,271.11
Year-over-Year Change
13.62%
Date Range
1/1/1960 - 1/1/2010
Summary
This economic trend measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita for The Gambia, derived from growth rates of consumption, government consumption, and investment. It provides insights into the country's 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 PPP-converted GDP per capita is a key metric used to compare living standards across countries, adjusting for differences in price levels. This data series allows analysts to assess The Gambia's economic performance and progress relative to other nations.
Methodology
The data is calculated by the World Bank using the Laspeyres method to convert nominal GDP to real, PPP-adjusted terms.
Historical Context
This metric informs policymakers and investors about The Gambia's economic conditions and growth trajectory.
Key Facts
- The Gambia's PPP-adjusted GDP per capita was $2,228 in 2021.
- GDP per capita growth in The Gambia averaged 2.5% per year from 2010 to 2020.
- The Gambia's economy is primarily driven by agriculture, tourism, and remittances.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita for The Gambia, adjusting for differences in price levels across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for accurate comparisons of living standards and economic development between The Gambia and other nations, informing policymakers and investors about the country's economic conditions and growth trajectory.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Laspeyres method to convert nominal GDP to real, PPP-adjusted terms.
Q: How is this trend used in economic policy?
A: This metric informs policymakers and investors about The Gambia's economic conditions and growth trajectory, supporting decision-making and assessments of the country's economic performance.
Q: Are there update delays or limitations?
A: The data is subject to the availability and timeliness of the underlying information provided by national statistical agencies and the World Bank.
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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 the Gambia (RGDPLPGMA625NUPN), retrieved from FRED.