Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Marshall Islands
RGDPLPMHA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,896.38
Year-over-Year Change
-1.04%
Date Range
1/1/1970 - 1/1/2010
Summary
This trend measures the purchasing power parity converted GDP per capita for the Marshall Islands, derived from growth rates of consumption, government consumption, and investment. It provides insight into the economic productivity and living standards of the country.
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 (PPP) converted GDP per capita metric adjusts for differences in price levels between countries, allowing for more accurate comparisons of economic output and standards of living. This particular series uses the Laspeyres method to calculate the PPP conversion factor.
Methodology
The data is collected and calculated by the World Bank using a standardized international methodology.
Historical Context
This economic indicator is widely used by policymakers, analysts, and international organizations to evaluate and compare the economic development of countries.
Key Facts
- Marshall Islands' GDP per capita was $3,713 in 2020.
- GDP per capita in the Marshall Islands has grown by 1.7% annually since 2010.
- The Marshall Islands is classified as an upper-middle income country by the World Bank.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for the Marshall Islands, which adjusts for differences in price levels to provide a more accurate comparison of economic output and living standards.
Q: Why is this trend relevant for users or analysts?
A: This indicator is widely used by policymakers, economists, and international organizations to evaluate and compare the economic development and living standards of countries.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using a standardized international methodology.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this PPP-adjusted GDP per capita metric to assess the economic performance and development of the Marshall Islands relative to other countries.
Q: Are there update delays or limitations?
A: There may be delays in data availability, as the World Bank updates this series on an annual basis.
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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 Marshall Islands (RGDPLPMHA625NUPN), retrieved from FRED.