Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Greece
PGD2USGRA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
61.19
Year-over-Year Change
17.12%
Date Range
1/1/1951 - 1/1/2010
Summary
This economic trend measures Greece's purchasing power parity (PPP) converted gross domestic product (GDP) per capita relative to the United States. It is a key indicator of a country's standard of living and economic development compared to the U.S.
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 compares the output of goods and services produced in Greece to the U.S., adjusting for differences in price levels between the countries. This provides a more accurate picture of relative living standards than market exchange rates alone.
Methodology
The data is calculated by the World Bank using the Geary-Khamis method to determine purchasing power parities.
Historical Context
Policymakers and economists use this metric to assess Greece's economic performance and competitiveness relative to the U.S.
Key Facts
- Greece's PPP-converted GDP per capita is about 60% of the U.S. level.
- This ratio has remained relatively stable over the past decade.
- The PPP adjustment is important due to differences in price levels between countries.
FAQs
Q: What does this economic trend measure?
A: This metric measures Greece's purchasing power parity (PPP) converted gross domestic product (GDP) per capita relative to the United States.
Q: Why is this trend relevant for users or analysts?
A: This ratio provides a more accurate assessment of Greece's living standards and economic development compared to the U.S. than using market exchange rates alone.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to determine purchasing power parities.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to evaluate Greece's economic performance and competitiveness relative to the United States.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not fully capture short-term economic fluctuations.
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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 Greece (PGD2USGRA621NUPN), retrieved from FRED.