Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Mongolia
RGDPLPMNA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,522.56
Year-over-Year Change
66.92%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures Mongolia's real GDP per capita adjusted for purchasing power parity. It provides a standardized metric for comparing living standards across countries.
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 indicator adjusts nominal GDP per capita to account for differences in domestic price levels, enabling more accurate cross-country comparisons of material living standards.
Methodology
The data is calculated from growth rates of key national accounts components including consumption, government spending, and investment.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to assess economic development and living standards.
Key Facts
- Mongolia's GDP per capita in purchasing power parity terms was $13,302 in 2021.
- Mongolia's real GDP per capita has grown at an average annual rate of 5.3% over the past decade.
- Adjusting for purchasing power helps account for cost-of-living differences across countries.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Mongolia's real GDP per capita adjusted for differences in domestic price levels using purchasing power parity exchange rates.
Q: Why is this trend relevant for users or analysts?
A: Purchasing power parity-adjusted GDP per capita provides a standardized metric for comparing living standards and economic development across countries.
Q: How is this data collected or calculated?
A: The data is calculated from growth rates of key national accounts components including consumption, government spending, and investment.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to assess economic development and living standards.
Q: Are there update delays or limitations?
A: There can be lags in data availability, and cross-country comparisons may be affected by differences in data collection and methodology.
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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 Mongolia (RGDPLPMNA625NUPN), retrieved from FRED.