Constant GDP per capita for the Solomon Islands
NYGDPPCAPKDSLB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1,939.81
Year-over-Year Change
-7.89%
Date Range
1/1/1980 - 1/1/2024
Summary
The Constant GDP per capita for the Solomon Islands measures the country's gross domestic product per person, adjusted for inflation. This metric is crucial for assessing the standard of living and economic progress of the Solomon Islands.
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 economic indicator that reflects a country's overall economic output divided by its population. It provides insights into the productivity and wealth of a nation, enabling comparisons over time and across countries.
Methodology
The data is calculated by the World Bank using national accounts and population statistics.
Historical Context
Policymakers and analysts use this metric to evaluate the Solomon Islands' economic development and living standards.
Key Facts
- The Solomon Islands' Constant GDP per capita was $2,258 in 2021.
- GDP per capita has grown by an average of 1.7% annually over the past decade.
- The Solomon Islands is classified as a lower-middle-income country by the World Bank.
FAQs
Q: What does this economic trend measure?
A: The Constant GDP per capita for the Solomon Islands measures the country's gross domestic product per person, adjusted for inflation.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the productivity and living standards of the Solomon Islands, enabling analysis of the country's economic development over time.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using national accounts and population statistics.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate the Solomon Islands' economic progress and living standards, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is typically updated annually, with a delay of approximately one year.
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Credit to Government and State-Owned Enterprises to GDP for Solomon Islands
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Citation
U.S. Federal Reserve, Constant GDP per capita for the Solomon Islands (NYGDPPCAPKDSLB), retrieved from FRED.