Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Guyana
RGDPLPGYA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,481.27
Year-over-Year Change
41.84%
Date Range
1/1/1970 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Per Capita (Laspeyres) for Guyana measures the country's economic output per person, adjusted for differences in purchasing power across countries. It is a key indicator for comparing living standards and development levels globally.
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
This series represents Guyana's real GDP per capita, calculated using a Laspeyres method that accounts for relative price changes over time. It is a widely used metric for assessing a country's economic performance and standard of living in international comparisons.
Methodology
The data is derived from growth rates of consumption, government consumption, and investment components.
Historical Context
Policymakers and analysts use this metric to evaluate Guyana's economic progress and benchmark it against other nations.
Key Facts
- Guyana's GDP per capita was $7,194 in 2021.
- Guyana's GDP per capita has grown by an average of 3.2% annually over the past decade.
- Guyana ranks 103rd globally in GDP per capita based on purchasing power parity.
FAQs
Q: What does this economic trend measure?
A: This trend measures Guyana's real GDP per capita, adjusted for differences in purchasing power across countries. It provides a more accurate comparison of living standards than nominal GDP per capita.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for evaluating Guyana's economic performance and living standards relative to other nations. It helps policymakers and economists benchmark the country's development progress.
Q: How is this data collected or calculated?
A: The data is derived from growth rates of consumption, government consumption, and investment components in Guyana.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this purchasing power parity-adjusted GDP per capita metric to assess Guyana's economic development and living standards compared to its regional and global peers.
Q: Are there update delays or limitations?
A: There may be a lag of several months before the latest data is published, and the methodology may be subject to revisions over time.
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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 Guyana (RGDPLPGYA625NUPN), retrieved from FRED.