Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Dominica
PC2GDPDMA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,588.07
Year-over-Year Change
77.55%
Date Range
1/1/1970 - 1/1/2010
Summary
This trend measures the purchasing power parity (PPP) converted GDP per capita for Dominica, providing insight into the country's economic development and living standards relative to other nations.
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 PPP-converted GDP per capita metric adjusts for differences in price levels across countries, allowing for more accurate comparisons of economic output and living standards. This data is widely used by economists and policymakers to evaluate a country's economic performance and progress.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to convert GDP to a common currency and adjust for price level differences.
Historical Context
This trend is important for understanding Dominica's economic position and potential within the global marketplace.
Key Facts
- Dominica's PPP-converted GDP per capita was $15,103 in 2021.
- This metric has grown by an average of 1.7% annually over the past decade.
- Dominica's PPP-converted GDP per capita is approximately 40% of the global average.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Dominica, which adjusts the country's GDP for differences in price levels to allow for more accurate international comparisons.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to evaluate a country's economic performance and living standards relative to other nations, providing valuable insights for understanding Dominica's economic position and potential.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to convert GDP to a common currency and adjust for price level differences across countries.
Q: How is this trend used in economic policy?
A: This trend is important for understanding Dominica's economic position and potential within the global marketplace, which can inform policymakers' decisions and strategies related to trade, investment, and economic development.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a typical update delay of 1-2 years. Limitations may include the accuracy of underlying price data and the challenges of making cross-country comparisons.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Dominica (PC2GDPDMA620NUPN), retrieved from FRED.