Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Tonga
PC2GDPTOA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,763.23
Year-over-Year Change
37.91%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) adjusted GDP per capita for Tonga. PPP GDP per capita provides a more accurate comparison of living standards across countries by accounting for differences in price levels.
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 trend represents the total economic output of Tonga divided by its population, adjusted for differences in purchasing power between countries. This metric is widely used by economists and policymakers to evaluate and compare national living standards.
Methodology
The data is calculated using the GEKS-CPDW method, a multilateral PPP approach.
Historical Context
This metric is important for international economic analysis and policymaking.
Key Facts
- Tonga's PPP GDP per capita was $6,126 in 2021.
- This metric adjusts for differences in price levels between Tonga and other countries.
- PPP GDP per capita is a better indicator of living standards than nominal GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) adjusted GDP per capita for Tonga. PPP GDP per capita provides a more accurate comparison of living standards across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to evaluate and compare national living standards across countries, as it accounts for differences in price levels.
Q: How is this data collected or calculated?
A: The data is calculated using the GEKS-CPDW method, a multilateral PPP approach.
Q: How is this trend used in economic policy?
A: This metric is important for international economic analysis and policymaking, as it provides a more accurate comparison of living standards across countries.
Q: Are there update delays or limitations?
A: The data is subject to the update schedule and limitations of the source, the U.S. Federal Reserve's FRED database.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Tonga (PC2GDPTOA620NUPN), retrieved from FRED.