Purchasing Power Parity Converted GDP Per Capita Relative to the United States, average GEKS-CPDW, at current prices for Sierra Leone
PGD2USSLA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.25
Year-over-Year Change
52.47%
Date Range
1/1/1961 - 1/1/2010
Summary
This economic indicator measures Sierra Leone's purchasing power parity (PPP) converted GDP per capita relative to the United States. It provides insights into the country's economic development and living standards compared to the global superpower.
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 allows economists to assess a country's economic performance and living standards on an internationally comparable basis. It accounts for differences in price levels between Sierra Leone and the US, providing a more accurate picture of relative prosperity.
Methodology
The data is calculated using the GEKS-CPDW method, which adjusts for differences in price levels and consumption patterns between countries.
Historical Context
This trend is widely used by policymakers, international institutions, and market analysts to evaluate economic competitiveness and living standards across countries.
Key Facts
- Sierra Leone's GDP per capita is only about 2% of the US level.
- The country's relative economic performance has improved since the 1990s but remains low.
- This metric is crucial for assessing global inequality and development trends.
FAQs
Q: What does this economic trend measure?
A: This metric measures Sierra Leone's GDP per capita on a purchasing power parity basis, relative to the United States. It provides a standardized way to compare living standards between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This trend is vital for evaluating a country's economic competitiveness and development progress in an internationally comparable way. It is widely used by policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The data is calculated using the GEKS-CPDW method, which adjusts for differences in price levels and consumption patterns between Sierra Leone and the United States.
Q: How is this trend used in economic policy?
A: This metric is used by institutions like the World Bank and IMF to assess a country's living standards and economic performance relative to global peers. It informs policy decisions around development, trade, and economic competitiveness.
Q: Are there update delays or limitations?
A: There can be lags of 1-2 years in data availability, as comprehensive international price and GDP data takes time to collect and process. Additionally, the GEKS-CPDW methodology may not fully capture all nuances of cross-country price and consumption differences.
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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 Sierra Leone (PGD2USSLA621NUPN), retrieved from FRED.