Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Saudi Arabia
RGDPLPSAA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
20,188.29
Year-over-Year Change
15.42%
Date Range
1/1/1986 - 1/1/2010
Summary
This economic trend measures purchasing power parity (PPP) converted GDP per capita for Saudi Arabia, derived from growth rates of consumption, government consumption, and investment. It provides insight into the country's economic development and living standards.
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 metric adjusts for differences in purchasing power across countries, allowing for more accurate international comparisons of living standards and economic well-being. This data series is a valuable tool for economists and policymakers analyzing Saudi Arabia's economic progress and competitiveness.
Methodology
The data is calculated by the World Bank using a Laspeyres index formula based on growth rates of key macroeconomic components.
Historical Context
This metric is widely used by institutions like the IMF and World Bank to assess economic performance and guide policy decisions.
Key Facts
- Saudi Arabia's 2021 PPP-adjusted GDP per capita was $49,700.
- The country's PPP-adjusted GDP per capita has grown over 50% since 2000.
- Saudi Arabia ranks among the top 20 countries globally by this metric.
FAQs
Q: What does this economic trend measure?
A: This data series measures Saudi Arabia's purchasing power parity (PPP) converted GDP per capita, which adjusts the country's GDP for differences in domestic price levels to enable more accurate international comparisons of living standards and economic well-being.
Q: Why is this trend relevant for users or analysts?
A: This metric provides valuable insights into Saudi Arabia's economic development and competitiveness, which is highly relevant for economists, policymakers, and investors analyzing the country's economic performance and growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a Laspeyres index formula that incorporates growth rates of key macroeconomic components like consumption, government spending, and investment.
Q: How is this trend used in economic policy?
A: The PPP-adjusted GDP per capita metric is widely used by institutions like the IMF and World Bank to assess economic progress and living standards, informing policy decisions and strategies to promote sustainable development.
Q: Are there update delays or limitations?
A: The data is subject to update lags, as the World Bank periodically revises historical estimates. Users should check for the most recent release to ensure they have the latest information.
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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 Saudi Arabia (RGDPLPSAA625NUPN), retrieved from FRED.