Output-side Real GDP at Current Purchasing Power Parities for Ecuador
CGDPOSECA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
194,288.45
Year-over-Year Change
54.16%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic indicator measures Ecuador's real Gross Domestic Product (GDP) adjusted for purchasing power parity (PPP). It provides insight into the overall size and productivity of Ecuador's 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 output-side real GDP at current PPPs for Ecuador represents the total value of goods and services produced within the country, adjusted for differences in prices between Ecuador and a global reference. This metric is widely used by economists and policymakers to evaluate Ecuador's economic performance and living standards relative to other nations.
Methodology
The data is calculated by the World Bank using underlying national accounts statistics and PPP conversion factors.
Historical Context
This indicator is crucial for assessing Ecuador's economic development and international competitiveness.
Key Facts
- Ecuador's real GDP at PPP was $195 billion in 2021.
- Ecuador's real GDP per capita at PPP was $11,193 in 2021.
- Ecuador's real GDP has grown by an average of 1.3% per year over the past decade.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the total value of goods and services produced within Ecuador, adjusted for differences in prices between Ecuador and a global reference level.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for evaluating Ecuador's economic performance, living standards, and international competitiveness compared to other countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using underlying national accounts statistics and purchasing power parity (PPP) conversion factors.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this indicator to assess Ecuador's economic development, identify growth opportunities, and inform policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the World Bank, and there may be lags in availability compared to more frequently reported economic indicators.
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Citation
U.S. Federal Reserve, Output-side Real GDP at Current Purchasing Power Parities for Ecuador (CGDPOSECA666NRUG), retrieved from FRED.