Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for New Zealand
RGDPLPNZA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
27,788.35
Year-over-Year Change
23.69%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity converted gross domestic product (GDP) per capita for New Zealand, derived from growth rates of consumption, government consumption, and investment. It provides insight into the country's economic development and living standards.
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 (PPP) converted GDP per capita metric adjusts for differences in price levels between countries, allowing for more accurate cross-country comparisons of economic output and living standards. This series is useful for analyzing New Zealand's economic performance and progress relative to other nations.
Methodology
The data is calculated by the U.S. Federal Reserve using growth rates of key national accounts components.
Historical Context
This metric is widely used by economists, policymakers, and international institutions to assess economic development and living standards.
Key Facts
- New Zealand's GDP per capita on a PPP basis was $45,732 in 2021.
- The PPP-adjusted GDP per capita has grown by over 50% since 2000.
- New Zealand ranks among the top 20 countries globally by this metric.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity converted gross domestic product (GDP) per capita for New Zealand, adjusted for differences in price levels across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate comparison of living standards and economic development between New Zealand and other nations, as it accounts for differences in domestic price levels.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using growth rates of key national accounts components, including consumption, government spending, and investment.
Q: How is this trend used in economic policy?
A: Policymakers, international institutions, and economists utilize this metric to assess New Zealand's economic performance and progress 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 calculations rely on growth rates of national accounts components, which are typically published on a quarterly or annual basis.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for New Zealand (RGDPLPNZA625NUPN), retrieved from FRED.