Gross Domestic Product Per Capita for Ecuador
PCAGDPECA646NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,874.71
Year-over-Year Change
22.02%
Date Range
1/1/1960 - 1/1/2024
Summary
The Gross Domestic Product (GDP) per capita for Ecuador measures the total economic output of the country divided by its population. It is a key indicator of a country's standard of living and economic development.
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 metric that provides insight into a country's economic performance and progress. It helps economists and policymakers assess the overall productivity and wealth of a nation's residents.
Methodology
The data is calculated by the World Bank by dividing Ecuador's GDP by its total population.
Historical Context
GDP per capita is a crucial statistic for investors, economists, and government officials to gauge Ecuador's economic health and development trajectory.
Key Facts
- Ecuador's GDP per capita was $6,302 in 2021.
- GDP per capita has grown by 18% in Ecuador over the past decade.
- Ecuador ranks 95th globally in GDP per capita.
FAQs
Q: What does this economic trend measure?
A: The Gross Domestic Product (GDP) per capita for Ecuador measures the total economic output of the country divided by its population.
Q: Why is this trend relevant for users or analysts?
A: GDP per capita is a key indicator of a country's standard of living and economic development, providing insight into Ecuador's overall productivity and wealth.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank by dividing Ecuador's GDP by its total population.
Q: How is this trend used in economic policy?
A: GDP per capita is a crucial statistic for investors, economists, and government officials to gauge Ecuador's economic health and development trajectory.
Q: Are there update delays or limitations?
A: The GDP per capita data for Ecuador is updated annually by the World Bank with a potential delay of up to two years.
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Citation
U.S. Federal Reserve, Gross Domestic Product Per Capita for Ecuador (PCAGDPECA646NWDB), retrieved from FRED.