Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Marshall Islands
PGD2USMHA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
17.09
Year-over-Year Change
-8.69%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for the Marshall Islands relative to the United States. It provides insights into the comparative living standards and economic productivity between the two 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 compares the overall economic output and prosperity of the Marshall Islands to the U.S. by adjusting for differences in price levels between the countries. This metric is widely used by economists and policymakers to evaluate relative economic development and standards of living.
Methodology
The data is calculated by the World Bank using the Geary-Khamis 'international dollar' method to ensure spatial and temporal price consistency.
Historical Context
This trend is relevant for understanding the Marshall Islands' economic position relative to the global superpower of the United States and can inform trade, aid, and development policies.
Key Facts
- The Marshall Islands' GDP per capita is currently around 18% of the U.S. level.
- PPP adjustments account for cost-of-living differences between countries.
- This metric is used to evaluate relative economic development and living standards.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for the Marshall Islands relative to the United States. It provides insights into the comparative living standards and economic productivity between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists and policymakers to evaluate relative economic development and standards of living between countries. It informs trade, aid, and development policies.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis 'international dollar' method to ensure spatial and temporal price consistency.
Q: How is this trend used in economic policy?
A: This trend is relevant for understanding the Marshall Islands' economic position relative to the global superpower of the United States and can inform trade, aid, and development policies.
Q: Are there update delays or limitations?
A: The data is published with some delay, and may not fully capture rapid economic changes in the Marshall Islands.
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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 Marshall Islands (PGD2USMHA621NUPN), retrieved from FRED.