Government Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Colombia
KGPPPGCOA156NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.70
Year-over-Year Change
6.39%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the share of government consumption in Colombia's purchasing power parity (PPP) converted gross domestic product (GDP) per capita, adjusted for inflation. It provides insights into the role of government spending in the country's economic activity.
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 government consumption share of PPP-converted GDP per capita is an important indicator for analyzing a country's economic structure and the relative size of its public sector. It can inform assessments of fiscal policy, resource allocation, and the balance between private and public economic activity.
Methodology
The data is calculated by the World Bank using national accounts and PPP conversion factors.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to evaluate Colombia's economic performance and development.
Key Facts
- Colombia's government consumption share of PPP-converted GDP per capita was 15.4% in 2021.
- This metric has remained relatively stable in Colombia over the past decade.
- The government consumption share is lower in Colombia compared to many other Latin American countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the share of government consumption in Colombia's purchasing power parity (PPP) converted gross domestic product (GDP) per capita, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the role of government spending in Colombia's economic activity, which is important for analyzing the country's economic structure and fiscal policy.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and PPP conversion factors.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to evaluate Colombia's economic performance and development.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with some delay in availability.
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Citation
U.S. Federal Reserve, Government Consumption Share of Purchasing Power Parity Converted GDP Per Capita at constant prices for Colombia (KGPPPGCOA156NUPN), retrieved from FRED.