Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Papua New Guinea
PCDGDPPGA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
4,062.79
Year-over-Year Change
112.96%
Date Range
1/1/1960 - 1/1/2010
Summary
This economic trend measures the per capita purchasing power parity (PPP) adjusted domestic absorption for Papua New Guinea. It provides insights into the 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
Domestic absorption is the total demand for goods and services within an economy, including consumption, investment, and government spending. This PPP-adjusted metric allows for cross-country comparisons of living standards by accounting for differences in price levels.
Methodology
The data is collected and calculated by the World Bank using the Geary-Khamis method to determine PPP conversion factors.
Historical Context
This indicator is used by policymakers and analysts to assess Papua New Guinea's economic performance and progress relative to other countries.
Key Facts
- Papua New Guinea's per capita domestic absorption was $2,302 in 2020.
- This metric has increased by 23% over the past decade.
- Domestic absorption accounts for over 90% of Papua New Guinea's GDP.
FAQs
Q: What does this economic trend measure?
A: This trend measures the per capita purchasing power parity (PPP) adjusted domestic absorption for Papua New Guinea. Domestic absorption represents the total demand for goods and services within the economy.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Papua New Guinea's standard of living and economic development. By adjusting for differences in price levels, it allows for meaningful cross-country comparisons.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using the Geary-Khamis method to determine PPP conversion factors.
Q: How is this trend used in economic policy?
A: This indicator is used by policymakers and analysts to assess Papua New Guinea's economic performance and progress relative to other countries.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with some potential delays in the most recent year's figures.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Papua New Guinea (PCDGDPPGA620NUPN), retrieved from FRED.