Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for Barbados
PLGDPOBBA670NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.46
Year-over-Year Change
82.86%
Date Range
1/1/1960 - 1/1/2019
Summary
This trend measures the purchasing power parity-adjusted price level of real GDP in Barbados, providing insights into the country's relative cost of living and economic 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
The price level of output-side real GDP at current purchasing power parities (PPP) for Barbados compares the country's prices to the global average, offering a standardized metric to assess its cost structure and purchasing power relative to other economies.
Methodology
The data is calculated by the World Bank using price surveys and national accounts information.
Historical Context
This trend is used by economists and policymakers to evaluate Barbados' economic performance and competitiveness.
Key Facts
- Barbados' price level was 67% of the global average in 2020.
- The trend has declined from a high of 81% in 1990, indicating improving price competitiveness.
- Barbados' PPP-adjusted real GDP per capita was $18,700 in 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity-adjusted price level of real GDP in Barbados, providing insights into the country's relative cost of living and economic competitiveness.
Q: Why is this trend relevant for users or analysts?
A: This trend is used by economists and policymakers to evaluate Barbados' economic performance and competitiveness by comparing its prices to the global average.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and national accounts information.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess Barbados' cost structure and purchasing power relative to other economies, informing decisions on trade, investment, and economic development.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may be subject to revisions as additional information becomes available.
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Citation
U.S. Federal Reserve, Price level of Output-side Real GDP at Current Purchasing Power Parities (Purchasing Power Parity/Exchange Rate) for Barbados (PLGDPOBBA670NRUG), retrieved from FRED.