Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Ireland
PC2GDPIEA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
38,532.26
Year-over-Year Change
52.97%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the purchasing power parity (PPP)-adjusted gross domestic product (GDP) per capita for Ireland, providing a standardized comparison of living standards across countries.
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 between countries, allowing for more accurate comparisons of economic output and living standards. It is a key statistic used by economists and policymakers to evaluate economic development and living conditions.
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 widely referenced in international economic analysis and policy discussions.
Key Facts
- Ireland's PPP-adjusted GDP per capita was $83,180 in 2021.
- Ireland has one of the highest GDP per capita levels among OECD countries.
- This metric allows more accurate cross-country living standard comparisons.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power parity (PPP)-adjusted gross domestic product (GDP) per capita for Ireland, which provides a standardized way to compare living standards across countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita metric is a key statistic used by economists and policymakers to evaluate economic development and living conditions in a more accurate, internationally comparable way.
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 between countries.
Q: How is this trend used in economic policy?
A: This trend is widely referenced in international economic analysis and policy discussions, as it provides a standardized basis for comparing living standards and economic development across countries.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank with a lag of approximately one year.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Ireland (PC2GDPIEA620NUPN), retrieved from FRED.