Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Saudi Arabia
PGD2USSAA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
57.15
Year-over-Year Change
93.45%
Date Range
1/1/1986 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for Saudi Arabia relative to the United States. It provides insights into the standard of living and economic development of Saudi Arabia 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 relative to the U.S. is an important indicator used by economists and policymakers to compare the economic well-being and productivity across countries, adjusting for differences in price levels between nations.
Methodology
The data is calculated using the Geary-Khamis-CPRD (GK-CPRD) method based on national accounts and price survey information.
Historical Context
This trend helps analyze Saudi Arabia's economic performance and competitiveness within the global market.
Key Facts
- Saudi Arabia's PPP-converted GDP per capita was 59% of the U.S. level in 2021.
- This trend has increased from 49% of the U.S. level in 2010.
- Saudi Arabia's economy is heavily dependent on oil exports.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Saudi Arabia relative to the United States. It provides a standardized comparison of economic output and living standards between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This trend is important for economists and policymakers to assess Saudi Arabia's economic development and competitiveness compared to the U.S., the world's largest economy. It offers insights into the relative standard of living and productivity levels between the two countries.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis-CPRD (GK-CPRD) method, which adjusts GDP per capita figures based on national accounts and price survey information to enable cross-country comparisons.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to evaluate Saudi Arabia's economic performance, inform trade and investment decisions, and benchmark the country's progress against major global economies like the United States.
Q: Are there update delays or limitations?
A: There may be lags in data availability, as the PPP-converted GDP per capita figures rely on detailed national accounts and price survey information that can take time to collect and process 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 Saudi Arabia (PGD2USSAA621NUPN), retrieved from FRED.