Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Turkey
PGD2USTRA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
24.87
Year-over-Year Change
12.33%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the purchasing power parity-adjusted GDP per capita for Turkey relative to the United States. It provides insights into the comparative living standards and economic development between the two countries.
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 (PPP) conversion factor is used to account for differences in price levels between countries, allowing for more accurate comparisons of real economic output and living standards. This specific series compares Turkey's GDP per capita to the U.S. using the average GEKS-CPDW method, which is a multilateral PPP index.
Methodology
The data is calculated by the World Bank using national accounts and PPP survey information.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to evaluate economic performance and make cross-country comparisons.
Key Facts
- Turkey's GDP per capita was 27% of the U.S. level in 2021.
- This series dates back to 1990, allowing long-term trend analysis.
- PPP adjustments are crucial for accurate cross-country income comparisons.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Turkey's GDP per capita relative to the United States, adjusted for differences in purchasing power between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the comparative living standards and economic development between Turkey and the U.S., which is useful for economists, policymakers, and international organizations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts information and purchasing power parity (PPP) survey data.
Q: How is this trend used in economic policy?
A: This indicator is widely used by economists and policymakers to evaluate economic performance and make cross-country comparisons, informing policy decisions and international economic analysis.
Q: Are there update delays or limitations?
A: The data is updated annually by the World Bank, and may have a 1-2 year lag due to the time required for data collection and processing.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Turkey (PGD2USTRA621NUPN), retrieved from FRED.