Purchasing Power Parity Converted GDP Per Capita (Chain Series) for New Zealand
RGDPCHNZA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27,789.63
Year-over-Year Change
23.71%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita for New Zealand, adjusted for inflation. It provides insights into the country's overall economic productivity and living standards relative to other 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
The PPP-converted GDP per capita metric adjusts a country's GDP to account for differences in purchasing power across economies, allowing for more accurate cross-country comparisons. This time series tracks the inflation-adjusted, PPP-based GDP per person in New Zealand, offering valuable context on the nation's economic development and growth.
Methodology
The data is calculated by the World Bank using exchange rates and price levels to convert GDP into a common currency and adjust for cost-of-living differences.
Historical Context
Policymakers and economists use this indicator to assess New Zealand's economic performance and living standards relative to its peers.
Key Facts
- New Zealand's PPP-adjusted GDP per capita was $42,940 in 2021.
- New Zealand ranks 17th globally in PPP-adjusted GDP per capita.
- The PPP-based GDP per capita has grown by over 40% in New Zealand since 2000.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita for New Zealand, adjusting for differences in price levels across countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita provides a more accurate comparison of living standards and economic productivity between New Zealand and other countries, informing policymakers and economists.
Q: How is this data collected or calculated?
A: The World Bank calculates this metric using exchange rates and price levels to convert GDP into a common currency and adjust for cost-of-living differences.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to assess New Zealand's economic performance and living standards relative to its peers, informing policy decisions.
Q: Are there update delays or limitations?
A: There may be some delays in data availability, as the World Bank compiles this information from various sources. The metric may also be subject to revisions over time.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Chain Series) for New Zealand (RGDPCHNZA625NUPN), retrieved from FRED.