Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Iceland
PGDPUSISA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
86.11
Year-over-Year Change
-14.82%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures Iceland's purchasing power parity (PPP) converted GDP per capita relative to the United States. It provides insights into the comparative living standards and economic development 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 output per person in two economies, adjusting for differences in price levels. This metric is useful for evaluating relative standards of living and cross-country productivity.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, a widely adopted approach for international GDP comparisons.
Historical Context
Policymakers and analysts use this indicator to assess economic performance and competitiveness across nations.
Key Facts
- Iceland's GDP per capita was 91% of the U.S. level in 2021.
- The G-K method adjusts for price level differences between countries.
- This metric is useful for analyzing economic development and competitiveness.
FAQs
Q: What does this economic trend measure?
A: This trend measures Iceland's purchasing power parity (PPP) converted GDP per capita relative to the United States. It provides insights into the comparative living standards and economic development between the two countries.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita ratio is a useful metric for evaluating relative standards of living and cross-country productivity. Policymakers and analysts use this indicator to assess economic performance and competitiveness across nations.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, a widely adopted approach for international GDP comparisons.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to assess economic performance and competitiveness across nations, informing decisions related to trade, investment, and economic development.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates and may have publication lags. Users should refer to the source for the most current information and be aware of any limitations in the underlying data collection or calculation methods.
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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 Iceland (PGDPUSISA621NUPN), retrieved from FRED.