Constant GDP per capita for Jamaica
NYGDPPCAPKDJAM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,312.40
Year-over-Year Change
6.03%
Date Range
1/1/1966 - 1/1/2024
Summary
Constant GDP per capita for Jamaica measures the total economic output of Jamaica divided by its population, adjusted for inflation. This metric is crucial for assessing a country's standard of living and economic development over time.
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
Constant GDP per capita is an important macroeconomic indicator that provides insight into a country's economic performance and the material well-being of its citizens. It is widely used by economists, policymakers, and analysts to evaluate a nation's progress and compare living standards across countries.
Methodology
The data is calculated by the World Bank using GDP and population statistics.
Historical Context
Trends in Jamaica's constant GDP per capita are closely monitored by international institutions and investors to gauge the country's economic health and growth potential.
Key Facts
- Jamaica's constant GDP per capita was $5,401 in 2021.
- GDP per capita in Jamaica has grown by an average of 0.5% annually over the past decade.
- Jamaica ranks 121st globally in terms of constant GDP per capita.
FAQs
Q: What does this economic trend measure?
A: Constant GDP per capita for Jamaica measures the total economic output of the country divided by its population, adjusted for inflation. It provides a gauge of the material living standards and economic development in Jamaica.
Q: Why is this trend relevant for users or analysts?
A: Trends in Jamaica's constant GDP per capita are closely watched by economists, policymakers, and investors to assess the country's economic performance and progress over time. It is a key indicator of a nation's standard of living and economic growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using GDP and population statistics for Jamaica.
Q: How is this trend used in economic policy?
A: Constant GDP per capita is a critical metric used by Jamaican policymakers, international institutions, and investors to evaluate the country's economic health, identify development priorities, and guide policy decisions.
Q: Are there update delays or limitations?
A: The data is typically published with a lag of 1-2 years by the World Bank. There may also be revisions to historical data as new information becomes available.
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Citation
U.S. Federal Reserve, Constant GDP per capita for Jamaica (NYGDPPCAPKDJAM), retrieved from FRED.