Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for the Gambia
PGDPUSGMA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.07
Year-over-Year Change
2.39%
Date Range
1/1/1960 - 1/1/2010
Summary
This economic trend measures the Gambia's gross domestic product (GDP) per capita relative to the United States, adjusted for purchasing power parity. It provides insight into the Gambia'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 (PPP) Converted GDP Per Capita Relative to the United States metric compares the Gambia's GDP per capita to that of the U.S., after accounting for differences in the cost of living and exchange rates. This is a key indicator used by economists and policymakers to assess cross-country differences in material living standards.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, a multilateral approach to PPP conversion.
Historical Context
This metric is widely used to evaluate the Gambia's economic progress and competitiveness on the global stage.
Key Facts
- The Gambia's PPP-adjusted GDP per capita is around 3% of the U.S. level.
- The Gambia is classified as a low-income country by the World Bank.
- GDP per capita is a key indicator of a country's economic well-being and living standards.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Gambia's gross domestic product (GDP) per capita relative to the United States, adjusted for differences in purchasing power and cost of living.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the Gambia's economic development and living standards compared to the global economic superpower, the United States.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, a multilateral approach to purchasing power parity (PPP) conversion.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists and policymakers to evaluate the Gambia's economic progress and competitiveness on the global stage.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates, and there may be lags in reporting or limitations in cross-country comparability.
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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 the Gambia (PGDPUSGMA621NUPN), retrieved from FRED.