Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Burkina Faso
PGD2USBFA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.54
Year-over-Year Change
23.60%
Date Range
1/1/1959 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for Burkina Faso relative to the United States. It is a key indicator for comparing living standards and economic development across countries.
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
The PPP-converted GDP per capita ratio represents the real purchasing power of a country's population compared to the U.S. It accounts for differences in price levels between countries, providing a more accurate comparison of living standards than market exchange rates.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to determine PPP conversion factors.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to assess economic performance and living conditions globally.
Key Facts
- Burkina Faso's GDP per capita is only about 3% of the U.S. level.
- This ratio has remained relatively stable over the past two decades.
- Burkina Faso is one of the poorest countries in the world by this metric.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Burkina Faso relative to the United States. It provides a more accurate comparison of living standards between the two countries than using market exchange rates.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and international organizations to assess economic performance and living conditions globally. It helps provide a more realistic picture of a country's development level compared to the U.S.
Q: How is this data collected or calculated?
A: The data is 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 metric is used by institutions like the World Bank and IMF to evaluate economic development and inform policy decisions. It allows for more accurate cross-country comparisons of living standards and informs discussions around global inequality.
Q: Are there update delays or limitations?
A: There can be lags in data availability, as the PPP conversion factors are updated periodically by the World Bank. Additionally, the accuracy of this metric may be limited by challenges in measuring price levels across countries.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Burkina Faso (PGD2USBFA621NUPN), retrieved from FRED.