Expenditure-side Real GDP at Current Purchasing Power Parities for Jamaica
CGDPESJMA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,322.55
Year-over-Year Change
21.03%
Date Range
1/1/1953 - 1/1/2019
Summary
This economic indicator measures the real gross domestic product (GDP) of Jamaica, adjusted for differences in purchasing power across countries. It provides insights into the overall size and growth of the Jamaican economy.
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 expenditure-side real GDP at current purchasing power parities (PPPs) is a key metric used by economists and policymakers to compare the economic output of different countries. It adjusts for variations in price levels to enable more accurate cross-country comparisons.
Methodology
The data is calculated by the World Bank using national accounts and PPP conversion factors.
Historical Context
This trend is widely used to analyze Jamaica's economic performance and competitiveness relative to other nations.
Key Facts
- Jamaica's real GDP at current PPPs was $25.9 billion in 2021.
- The Jamaican economy grew by 4.6% in 2021 after contracting in 2020.
- Jamaica's real GDP per capita at current PPPs was $8,700 in 2021.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the size of Jamaica's economy in real, inflation-adjusted terms, adjusting for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric enables economists and policymakers to accurately compare Jamaica's economic output and living standards to other nations, informing analysis of the country's economic performance and competitiveness.
Q: How is this data collected or calculated?
A: The World Bank calculates this indicator using national accounts data and purchasing power parity (PPP) conversion factors.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this data to evaluate Jamaica's economic growth, living standards, and competitiveness compared to its regional and global peers, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic revisions by the World Bank and may have a lag of 1-2 years in availability.
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Citation
U.S. Federal Reserve, Expenditure-side Real GDP at Current Purchasing Power Parities for Jamaica (CGDPESJMA666NRUG), retrieved from FRED.