Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Mongolia
PGDPUSMNA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
10.19
Year-over-Year Change
73.34%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures Mongolia's gross domestic product (GDP) per capita relative to the United States, adjusted for purchasing power parity. It provides insights into the living standards and economic development of Mongolia compared to the U.S.
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 Relative to the United States, G-K method, at current prices for Mongolia is an important statistic that allows for cross-country comparisons of economic output and living standards. It accounts for differences in the cost of living between the two countries.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, which is a multilateral purchasing power parity (PPP) approach.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to assess relative economic performance and development.
Key Facts
- Mongolia's GDP per capita is approximately 10% of the U.S. level.
- The G-K method adjusts for differences in the cost of living between countries.
- This metric is used to evaluate economic development and competitiveness.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Mongolia's gross domestic product (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 living standards and economic development of Mongolia compared to 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 using the Geary-Khamis (G-K) method, which is a multilateral purchasing power parity (PPP) approach.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to assess relative economic performance and development between countries.
Q: Are there update delays or limitations?
A: There may be some delays in data reporting and updates, and the metric may not fully capture all nuances of economic development and living standards.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Mongolia (PGDPUSMNA621NUPN), retrieved from FRED.