Purchasing Power Parity, Share of World for Costa Rica
CRIPPPSH • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.06
Year-over-Year Change
-4.25%
Date Range
1/1/2011 - 1/1/2024
Summary
The 'Purchasing Power Parity, Share of World for Costa Rica' measures Costa Rica's share of global purchasing power relative to other countries. This metric is important for economists and policymakers to assess a country's economic size and development.
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
Purchasing power parity (PPP) compares different countries' currencies by adjusting for price level differences, providing a more accurate assessment of a country's economic output. The CRIPPPSH series tracks Costa Rica's PPP-adjusted share of the world economy.
Methodology
The data is calculated by the World Bank using detailed price surveys and national accounts data.
Historical Context
PPP data is widely used by international organizations, governments, and analysts to evaluate economic performance and living standards across countries.
Key Facts
- Costa Rica's PPP-adjusted share of world GDP was 0.066% in 2021.
- PPP adjusts for price differences, providing a more accurate comparison of living standards.
- Costa Rica has increased its global economic share over the past two decades.
FAQs
Q: What does this economic trend measure?
A: The 'Purchasing Power Parity, Share of World for Costa Rica' metric tracks Costa Rica's share of global economic output, adjusted for differences in price levels between countries.
Q: Why is this trend relevant for users or analysts?
A: This PPP-adjusted metric provides a more accurate representation of Costa Rica's economic size and development compared to using nominal exchange rates. It is widely used by economists, policymakers, and international organizations to evaluate living standards and growth across countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using detailed price surveys and national accounts information.
Q: How is this trend used in economic policy?
A: PPP data is leveraged by governments, central banks, and international institutions to assess economic performance, make policy decisions, and compare living standards across countries.
Q: Are there update delays or limitations?
A: The World Bank updates this PPP data on an annual basis, with a lag of around 1-2 years. There may be some limitations in data coverage or comparability across countries.
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Citation
U.S. Federal Reserve, Purchasing Power Parity, Share of World for Costa Rica (CRIPPPSH), retrieved from FRED.