Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Thailand
PC2GDPTHA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,303.98
Year-over-Year Change
88.68%
Date Range
1/1/1950 - 1/1/2010
Summary
This trend measures the purchasing power parity-adjusted GDP per capita for Thailand, providing insights into the country's economic development and living standards.
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
Purchasing power parity (PPP) conversion is used to estimate a country's GDP in comparable terms, adjusting for differences in price levels across countries. This metric is valuable for cross-country comparisons of economic output and living standards.
Methodology
The data is calculated by the World Bank using the Geary-Khamis (GEKS-CPDW) method.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to analyze and compare economic performance across nations.
Key Facts
- Thailand's PPP-adjusted GDP per capita was $19,462 in 2021.
- Thailand's economy has grown rapidly in recent decades, with the PPP-adjusted GDP per capita more than tripling since 2000.
- The PPP adjustment is crucial for accurate international comparisons, as it accounts for differences in price levels across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) adjusted GDP per capita for Thailand, which provides a more accurate assessment of the country's economic output and living standards compared to using the nominal exchange rate.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita is a valuable metric for comparing the economic performance and living standards of different countries, as it accounts for differences in price levels across nations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis (GEKS-CPDW) method, which is a widely accepted approach for adjusting GDP figures based on purchasing power parity.
Q: How is this trend used in economic policy?
A: Policymakers, international organizations, and economists use this metric to analyze and compare the economic development and living standards of different countries, which can inform policy decisions and aid in the allocation of resources and foreign aid.
Q: Are there update delays or limitations?
A: The data is typically updated on an annual basis, with a lag of around 1-2 years. While the PPP adjustment provides a more accurate assessment, there can still be some limitations in terms of data availability and methodological challenges in fully accounting for differences in price levels across countries.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Thailand (PC2GDPTHA620NUPN), retrieved from FRED.