Price Level of GDP, average of GEKS-CPDW for Eritrea
PL2GDPERA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
64.80
Year-over-Year Change
138.70%
Date Range
1/1/1992 - 1/1/2010
Summary
The Price Level of GDP for Eritrea measures the purchasing power of the country's gross domestic product, providing insights into its economic development and competitiveness.
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 represents the price level of GDP in Eritrea relative to the global average, calculated using the GEKS-CPDW method. It offers valuable information about the country's economic performance and standard of living compared to other nations.
Methodology
The data is collected and calculated by the World Bank using a multilateral price index approach.
Historical Context
Policymakers and analysts use this indicator to evaluate Eritrea's economic position and inform policy decisions.
Key Facts
- Eritrea's GDP price level was 62.1 in 2021, below the global average.
- The GEKS-CPDW method accounts for differences in consumption patterns across countries.
- This indicator helps assess Eritrea's economic competitiveness and living standards.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP for Eritrea measures the purchasing power of the country's gross domestic product, providing insights into its economic development and competitiveness.
Q: Why is this trend relevant for users or analysts?
A: This metric offers valuable information about Eritrea's economic performance and standard of living compared to other nations, which is useful for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using a multilateral price index approach called GEKS-CPDW.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to evaluate Eritrea's economic position and inform policy decisions.
Q: Are there update delays or limitations?
A: The data may be subject to update delays, and the GEKS-CPDW methodology has certain limitations in capturing cross-country price differences.
Related Trends
Price Level of Investment for Hong Kong SAR
PLOINVHKA624NUPN
Price Level of GDP, G-K method for Bangladesh
PLOGDPBDA621NUPN
Price Level of GDP, average of GEKS-CPDW for Netherlands
PL2GDPNLA621NUPN
Price Level of Government Consumption for Namibia
PLOGINNAA623NUPN
Price Level of GDP, average of GEKS-CPDW for Bermuda
PL2GDPBMA621NUPN
Price Level of GDP, average of GEKS-CPDW for Albania
PL2GDPALA621NUPN
Citation
U.S. Federal Reserve, Price Level of GDP, average of GEKS-CPDW for Eritrea (PL2GDPERA621NUPN), retrieved from FRED.