Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Grenada
RGDPCHGDA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
14,656.76
Year-over-Year Change
16.87%
Date Range
1/1/1970 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Grenada measures the country's economic output per person, adjusted for differences in purchasing power between Grenada and other countries. This metric is crucial for comparing living standards and productivity across nations.
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
This series represents Grenada's real GDP per capita, which is the total economic output divided by the population. The data is adjusted for purchasing power parity (PPP) to account for cost-of-living differences, allowing for more accurate international comparisons.
Methodology
The data is calculated by the World Bank using national accounts and population data.
Historical Context
Policymakers and economists use this metric to evaluate Grenada's economic development and living standards relative to other countries.
Key Facts
- Grenada's GDP per capita (PPP) was $15,700 in 2021.
- Grenada's GDP per capita (PPP) has grown by 30% since 2010.
- Grenada is classified as an upper-middle income country by the World Bank.
FAQs
Q: What does this economic trend measure?
A: This trend measures Grenada's real GDP per capita, which is the total economic output of the country divided by its population, adjusted for differences in purchasing power between Grenada and other nations.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for comparing living standards and productivity across countries, as the purchasing power parity adjustment allows for more accurate international comparisons.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and population data.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate Grenada's economic development and living standards relative to other countries, which informs policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated annually, with a delay of approximately one year.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Grenada (RGDPCHGDA625NUPN), retrieved from FRED.