Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for the Gambia
PGD2USGMA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.26
Year-over-Year Change
8.20%
Date Range
1/1/1960 - 1/1/2010
Summary
This economic indicator measures the Gambia's gross domestic product (GDP) per capita relative to the United States, adjusted for differences in purchasing power. It provides insights into the Gambia's economic development and living standards compared to the world's largest economy.
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 Purchasing Power Parity Converted GDP Per Capita Relative to the United States metric compares the Gambia's GDP per capita to that of the U.S., after accounting for price level differences between the two countries. This allows for more accurate cross-country comparisons of living standards and productivity.
Methodology
The data is calculated by the World Bank using the Geary-Khamis purchasing power parity (PPP) method.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess the Gambia's economic performance and competitiveness.
Key Facts
- The Gambia's GDP per capita is approximately 4.5% of the U.S. level.
- The Gambia's GDP per capita has grown by over 50% since 2000.
- Purchasing power parity adjusts for cost of living differences between countries.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the Gambia's gross domestic product (GDP) per capita relative to the United States, adjusted for differences in purchasing power between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate comparison of living standards and economic productivity between the Gambia and the U.S., the world's largest economy, which is useful for policymakers and international organizations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis purchasing power parity (PPP) method.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international organizations to assess the Gambia's economic performance and competitiveness relative to the United States.
Q: Are there update delays or limitations?
A: The data is subject to update delays, as it relies on complex international price and GDP comparisons conducted by the World Bank.
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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 the Gambia (PGD2USGMA621NUPN), retrieved from FRED.