Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Solomon Islands
PGDPUSSBA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4.71
Year-over-Year Change
-23.14%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita of Solomon Islands relative to the United States. It provides insights into the standard of living and economic development of Solomon Islands 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 metric compares the economic output and purchasing power of Solomon Islands to the U.S. by adjusting for differences in price levels between the two countries. This allows for more accurate cross-country comparisons of living standards and productivity.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, which is a type of multilateral PPP.
Historical Context
This metric is useful for economists, policymakers, and analysts to assess the relative economic position and development of Solomon Islands.
Key Facts
- Solomon Islands' GDP per capita is approximately 6% of the U.S. level.
- The PPP-adjusted GDP per capita gap between Solomon Islands and the U.S. has widened over the past decade.
- Solomon Islands' economy is heavily dependent on agriculture, fishing, and natural resource exports.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita of Solomon Islands relative to the United States. It provides insights into the standard of living and economic development of Solomon Islands compared to the U.S.
Q: Why is this trend relevant for users or analysts?
A: This metric is useful for economists, policymakers, and analysts to assess the relative economic position and development of Solomon Islands compared to the U.S., which is the world's largest economy.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, which is a type of multilateral purchasing power parity (PPP) approach.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to evaluate the relative standard of living and economic progress of Solomon Islands, which can inform development strategies and international economic policies.
Q: Are there update delays or limitations?
A: There may be delays in data reporting and availability due to the complexity of collecting and calculating PPP-adjusted GDP per capita across countries.
Related Trends
Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Poland
PGD2USPLA621NUPN
Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Serbia
PGD2USRSA621NUPN
Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Bosnia and Herzegovina
PGD2USBAA621NUPN
Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Rwanda
PGD2USRWA621NUPN
Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Germany
PGD2USDEA621NUPN
Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Indonesia
PGD2USIDA621NUPN
Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Solomon Islands (PGDPUSSBA621NUPN), retrieved from FRED.