Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Solomon Islands
PCDGDPSBA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,021.42
Year-over-Year Change
43.06%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity-adjusted domestic absorption per capita for Solomon Islands, providing insights into the country's standard of living and economic activity.
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 represents the total spending on goods and services within a country, including consumption, investment, and government expenditure. This metric adjusts for differences in price levels between countries, allowing for more accurate cross-country comparisons of economic welfare.
Methodology
The data is calculated using the Geary-Khamis-CPDS-Weighted (GEKS-CPDW) method to convert local currency values to a common international unit.
Historical Context
This indicator is useful for policymakers and economists to assess the relative economic performance and living standards of Solomon Islands compared to other countries.
Key Facts
- Solomon Islands' purchasing power parity-adjusted domestic absorption per capita was $2,173 in 2020.
- This metric has grown by an average of 2.4% per year over the past decade.
- Solomon Islands ranks 161st globally in terms of purchasing power parity-adjusted domestic absorption per capita.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity-adjusted domestic absorption per capita for Solomon Islands, which represents the total spending on goods and services within the country.
Q: Why is this trend relevant for users or analysts?
A: This metric is useful for assessing the relative economic performance and living standards of Solomon Islands compared to other countries, as it adjusts for differences in price levels between countries.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis-CPDS-Weighted (GEKS-CPDW) method to convert local currency values to a common international unit.
Q: How is this trend used in economic policy?
A: This indicator is useful for policymakers and economists to assess the relative economic performance and living standards of Solomon Islands, which can inform policy decisions and international comparisons.
Q: Are there update delays or limitations?
A: The data is subject to potential lags in availability and may not fully capture all aspects of economic activity within Solomon Islands.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Solomon Islands (PCDGDPSBA620NUPN), retrieved from FRED.