Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Thailand
PGDPUSTHA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
19.78
Year-over-Year Change
28.09%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Thailand' trend measures the economic output and living standards of Thailand compared to the United States using purchasing power parity (PPP) adjustments.
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
This metric provides a more accurate comparison of economic welfare between countries by accounting for differences in price levels. It is widely used by economists, policymakers, and international organizations to assess Thailand's economic development and competitiveness relative to the U.S.
Methodology
The data is calculated using the Geary-Khamis (G-K) method to convert GDP per capita to a common international dollar basis.
Historical Context
Policymakers and analysts monitor this trend to gauge Thailand's economic progress and integration with the global economy.
Key Facts
- Thailand's GDP per capita is currently about 27% of the U.S. level.
- Thailand's relative GDP per capita has increased over the past two decades.
- Purchasing power parity adjustments are crucial for accurate international comparisons.
FAQs
Q: What does this economic trend measure?
A: This trend measures Thailand's 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 a more meaningful comparison of economic welfare and living standards between Thailand and the U.S. than using market exchange rates alone.
Q: How is this data collected or calculated?
A: The data is calculated using the Geary-Khamis (G-K) method to convert GDP per capita to a common international dollar basis.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this trend to gauge Thailand's economic progress, competitiveness, and integration with the global economy.
Q: Are there update delays or limitations?
A: There may be lags in data availability, as purchasing power parity estimates require complex international price comparisons.
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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 Thailand (PGDPUSTHA621NUPN), retrieved from FRED.