Gross Domestic Product Per Capita for Cuba
PCAGDPCUA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,605.26
Year-over-Year Change
92.64%
Date Range
1/1/1970 - 1/1/2020
Summary
The Gross Domestic Product (GDP) per capita for Cuba measures the country's economic output divided by its population. This metric provides insights into the standard of living and overall economic development in Cuba.
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
GDP per capita is a widely used indicator of a country's economic performance and prosperity. It represents the total economic output divided by the total population, giving a sense of the average income and purchasing power within the country.
Methodology
The data is calculated by the World Bank using official national accounts and population statistics.
Historical Context
Economists and policymakers monitor Cuba's GDP per capita to assess the island nation's economic progress and living standards over time.
Key Facts
- Cuba's GDP per capita was $8,821 in 2020.
- GDP per capita in Cuba has grown by 15% over the past decade.
- Cuba ranks 77th globally in GDP per capita as of the latest data.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) per capita for Cuba measures the country's total economic output divided by its population, providing insights into the standard of living and overall economic development.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a widely used indicator of a country's economic performance and prosperity, allowing economists and policymakers to assess Cuba's economic progress and living standards over time.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using official national accounts and population statistics.
Q: How is this trend used in economic policy?
A: Economists and policymakers monitor Cuba's GDP per capita to evaluate the island nation's economic development and make informed decisions regarding economic policies and programs.
Q: Are there update delays or limitations?
A: The GDP per capita data for Cuba is subject to the availability and timeliness of official national accounts and population statistics reported by the Cuban government.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Cuba (PCAGDPCUA646NWDB), retrieved from FRED.