Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Saudi Arabia
RGDPL2SAA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19,423.32
Year-over-Year Change
9.42%
Date Range
1/1/1986 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Saudi Arabia, adjusted using the Laspeyres method and derived from growth rates of domestic absorption. It provides insights into the standard of living and economic productivity of the Saudi population.
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 (Laspeyres) trend offers a standardized way to compare the economic output and living standards across countries. It adjusts for differences in price levels, allowing for more accurate cross-country comparisons than using nominal exchange rates.
Methodology
The data is calculated using the Laspeyres method based on growth rates of domestic absorption.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to analyze economic development and make informed decisions.
Key Facts
- Saudi Arabia's GDP per capita (PPP) was $54,501 in 2021.
- This metric has grown at an average annual rate of 1.2% over the past decade.
- The Laspeyres method is used to adjust for price level differences across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted gross domestic product (GDP) per capita for Saudi Arabia, adjusted using the Laspeyres method and derived from growth rates of domestic absorption.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate way to compare living standards and economic productivity across countries by adjusting for differences in price levels, which is crucial for policymakers and economists analyzing economic development.
Q: How is this data collected or calculated?
A: The data is calculated using the Laspeyres method based on growth rates of domestic absorption.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to analyze economic development and make informed decisions regarding policies and investments.
Q: Are there update delays or limitations?
A: The data is subject to update delays and may have limitations in capturing all aspects of economic activity, as with any macroeconomic indicator.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Saudi Arabia (RGDPL2SAA625NUPN), retrieved from FRED.