Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Paraguay
PC2GDPPYA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,915.38
Year-over-Year Change
46.93%
Date Range
1/1/1951 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Paraguay, providing a standardized metric for international comparisons of living standards and economic productivity.
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
Purchasing power parity (PPP) GDP per capita is a measure of a country's economic output that accounts for differences in the cost of living, allowing for more accurate cross-country comparisons of material well-being. This series uses the GEKS-CPDW method, a multilateral PPP index that provides stable, transitive comparisons.
Methodology
The data is calculated by the World Bank using national accounts and price survey information.
Historical Context
Policymakers and analysts use this metric to evaluate Paraguay's economic development relative to other nations.
Key Facts
- Paraguay's PPP GDP per capita was $13,798 in 2021.
- This metric has grown by an average of 2.3% per year over the last decade.
- Paraguay ranks 103rd globally in PPP GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures Paraguay's purchasing power parity (PPP) converted gross domestic product (GDP) per capita, which provides a standardized metric for comparing living standards and economic productivity across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for more accurate international comparisons of material well-being and economic development than using nominal exchange rates, making it important for policymakers and economists analyzing Paraguay's economic performance.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and price survey information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this PPP GDP per capita metric to evaluate Paraguay's economic development relative to other nations and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not fully capture rapid economic changes within a given year.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Paraguay (PC2GDPPYA620NUPN), retrieved from FRED.