Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Bermuda
PGDPUSBMA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.50
Year-over-Year Change
10.37%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic indicator measures Bermuda's gross domestic product (GDP) per capita relative to the United States, adjusted for purchasing power parity. 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 Purchasing Power Parity Converted GDP Per Capita Relative to the United States metric compares the GDP per capita of Bermuda to that of the U.S., after accounting for differences in the cost of living and purchasing power between the two economies. This allows for a more accurate assessment of the relative economic well-being of residents.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, which adjusts for price level differences across countries.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to evaluate economic performance and make cross-country comparisons.
Key Facts
- Bermuda's GDP per capita was 161.4% of the U.S. level in 2021.
- Purchasing power parity adjusts for cost-of-living differences across countries.
- The G-K method is a widely used approach for calculating international GDP comparisons.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Bermuda's gross domestic product (GDP) per capita relative to the United States, adjusted for differences in purchasing power and the cost of living between the two economies.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate assessment of the comparative living standards and economic productivity between Bermuda and the U.S., which is useful for economists, policymakers, and international organizations evaluating economic performance and making cross-country comparisons.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, which adjusts for price level differences across countries.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to evaluate economic performance and make cross-country comparisons, informing policy decisions and analyses.
Q: Are there update delays or limitations?
A: The data is subject to the typical update schedules and potential revisions common for macroeconomic indicators.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Bermuda (PGDPUSBMA621NUPN), retrieved from FRED.