Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Jamaica
RGDPLPJMA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,542.39
Year-over-Year Change
-3.20%
Date Range
1/1/1953 - 1/1/2010
Summary
This economic indicator measures the purchasing power parity (PPP) adjusted gross domestic product (GDP) per capita for Jamaica, derived from growth rates of consumption, government consumption, and investment.
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 metric that allows for cross-country comparisons of living standards and economic productivity, adjusting for differences in price levels between nations. This data series provides insights into Jamaica's economic development and living standards relative to other countries.
Methodology
The data is calculated by the World Bank using a Laspeyres index formula applied to growth rates of key GDP components.
Historical Context
Policymakers and analysts use this indicator to evaluate Jamaica's economic performance and living standards in a global context.
Key Facts
- Jamaica's PPP-adjusted GDP per capita was $8,798 in 2021.
- The PPP-based metric accounts for price level differences, unlike nominal GDP per capita.
- Jamaica's living standards, as measured by this indicator, are below the global average.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power parity (PPP) adjusted gross domestic product (GDP) per capita for Jamaica, derived from growth rates of consumption, government spending, and investment.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita is a key metric for evaluating living standards and economic productivity in Jamaica relative to other countries, as it accounts for differences in price levels between nations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a Laspeyres index formula applied to growth rates of key GDP components.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess Jamaica's economic performance and living standards in a global context, informing policy decisions and economic development strategies.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a delay of approximately one year.
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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 Jamaica (RGDPLPJMA625NUPN), retrieved from FRED.