Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Mali
PGDPUSMLA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.47
Year-over-Year Change
10.08%
Date Range
1/1/1960 - 1/1/2010
Summary
This economic trend measures Mali's gross domestic product (GDP) per capita relative to the United States, adjusted for purchasing power parity. It provides insight into the standard of living and economic development in Mali compared to the US.
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 a country's economic output per person to that of the US, while accounting for differences in domestic price levels. This allows for more accurate cross-country comparisons of living standards and productivity.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, which uses international price comparisons to convert GDP into a common currency.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess economic performance and make informed decisions.
Key Facts
- Mali's GDP per capita is approximately 3% of the US level.
- This metric has declined from 0.04 in 1990 to 0.03 in 2021.
- Purchasing power parity adjustments are crucial for accurate cross-country comparisons.
FAQs
Q: What does this economic trend measure?
A: This trend measures Mali's gross domestic product (GDP) per capita relative to the United States, adjusted for differences in purchasing power and price levels between the two countries.
Q: Why is this trend relevant for users or analysts?
A: This metric provides important insights into the standard of living and economic development in Mali compared to the US, enabling more accurate cross-country comparisons.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method, which employs international price comparisons to convert GDP into a common currency.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international organizations to assess economic performance and make informed decisions about economic development and policy.
Q: Are there update delays or limitations?
A: There may be delays in data availability, and the metric is limited by the accuracy of underlying GDP and price data for Mali.
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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 Mali (PGDPUSMLA621NUPN), retrieved from FRED.