Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Papua New Guinea
RGDPLPPGA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,783.88
Year-over-Year Change
17.26%
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 Papua New Guinea, 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-adjusted GDP per capita is a key indicator of a country's economic development and living standards. It allows for more accurate international comparisons by accounting for differences in price levels between countries.
Methodology
The data is calculated by the World Bank using growth rates of the major GDP components.
Historical Context
Policymakers and analysts use this metric to assess Papua New Guinea's economic performance and living conditions relative to other nations.
Key Facts
- Papua New Guinea's PPP-adjusted GDP per capita was $3,874 in 2021.
- This metric has grown by an average of 3.7% annually over the past decade.
- The PPP adjustment accounts for differences in the cost of living across countries.
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 Papua New Guinea, which accounts for differences in price levels between countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita is a key indicator of a country's economic development and living standards, allowing for more accurate international comparisons.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using growth rates of the major GDP components.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Papua New Guinea's economic performance and living conditions relative to other nations.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and revisions by 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 Papua New Guinea (RGDPLPPGA625NUPN), retrieved from FRED.