Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Venezuela
RGDPLPVEA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,070.93
Year-over-Year Change
-1.25%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for Venezuela, derived from growth rates of consumption, government consumption, and investment. It provides important insights into the overall economic well-being and productivity of the Venezuelan population.
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 the standard GDP per capita figure to account for differences in purchasing power across countries, offering a more accurate comparison of living standards. This data series is widely used by economists and policymakers to evaluate economic development and compare productivity levels between nations.
Methodology
The data is calculated by the U.S. Federal Reserve using growth rates of key national accounts components.
Historical Context
This trend is relevant for assessing the economic conditions and relative competitiveness of the Venezuelan economy within the global marketplace.
Key Facts
- Venezuela's PPP-adjusted GDP per capita was $7,373 in 2021.
- This metric has declined by over 60% since 2013 due to economic crisis.
- Venezuela has one of the lowest PPP-adjusted GDP per capita levels in South America.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Venezuela, which adjusts the standard GDP per capita figure to account for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate assessment of living standards and economic well-being in Venezuela compared to the standard GDP per capita, making it a valuable tool for economists and policymakers evaluating the country's economic development and competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using growth rates of key national accounts components, including consumption, government consumption, and investment.
Q: How is this trend used in economic policy?
A: This PPP-adjusted GDP per capita metric is widely used by economists and policymakers to assess the overall economic conditions and relative competitiveness of the Venezuelan economy within the global marketplace.
Q: Are there update delays or limitations?
A: There may be delays in data updates due to the complex nature of calculating PPP-adjusted figures, and the data may be subject to revisions as more information becomes available.
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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 Venezuela (RGDPLPVEA625NUPN), retrieved from FRED.