Purchasing Power Parity Converted GDP Per Capita Relative to the United States, G-K method, at current prices for Vietnam
PGDPUSVNA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6.86
Year-over-Year Change
79.95%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures Vietnam's gross domestic product (GDP) per capita adjusted for purchasing power parity, relative to the United States. It provides insights into the living standards and economic development of Vietnam compared to the U.S.
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 metric adjusts a country's GDP to account for differences in price levels, allowing for more accurate cross-country comparisons of living standards and economic output. This series specifically looks at Vietnam's PPP-adjusted GDP per capita as a percentage of the U.S. level.
Methodology
The data is calculated using the Geary-Khamis (G-K) method, a multilateral system for comparing relative price levels and real expenditures across countries.
Historical Context
Policymakers and analysts use this metric to evaluate Vietnam's economic progress and competitiveness relative to the United States.
Key Facts
- Vietnam's PPP-adjusted GDP per capita is around 7% of the U.S. level.
- This metric has increased from 5.7% in 2000 to 7.2% in 2020, indicating gradual economic convergence.
- The G-K method adjusts for price level differences across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures Vietnam's gross domestic product (GDP) per capita, adjusted for differences in purchasing power parity (PPP) relative to the United States.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into Vietnam's living standards and economic development compared to the U.S., allowing for 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, a multilateral system for comparing relative price levels and real expenditures across countries.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to evaluate Vietnam's economic progress and competitiveness relative to the United States.
Q: Are there update delays or limitations?
A: There may be delays in data availability, and the G-K method has some limitations in capturing price level differences across countries.
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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 Vietnam (PGDPUSVNA621NUPN), retrieved from FRED.