Price Level of GDP, G-K method for Gabon
PLOGDPGAA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
81.46
Year-over-Year Change
57.37%
Date Range
1/1/1960 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Gabon measures the price level of the country's gross domestic product using the Geary-Khamis method. This metric provides insight into Gabon's overall price dynamics and is a key indicator for economists and policymakers.
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 GDP, G-K method for Gabon represents the price level of the country's total economic output, adjusting for differences in purchasing power across goods and services. This allows for more accurate international comparisons of real GDP, which is crucial for understanding Gabon's economic development and competitiveness.
Methodology
The data is calculated by the U.S. Federal Reserve using the Geary-Khamis method, a widely adopted approach for cross-country price level comparisons.
Historical Context
Policymakers and analysts use this metric to gauge Gabon's economic performance and assess its relative cost competitiveness within the global marketplace.
Key Facts
- Gabon's price level of GDP was 79.7 in 2021.
- The Geary-Khamis method adjusts for differences in purchasing power across countries.
- This metric is essential for accurately comparing Gabon's economic output to other nations.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Gabon measures the overall price level of the country's gross domestic product, using the Geary-Khamis approach to adjust for differences in purchasing power across goods and services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides crucial insight into Gabon's economic performance and competitiveness, enabling more accurate international comparisons of real GDP that are essential for policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using the Geary-Khamis method, a widely adopted approach for cross-country price level comparisons.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to gauge Gabon's economic development, assess its cost competitiveness, and make informed decisions regarding trade, investment, and macroeconomic policy.
Q: Are there update delays or limitations?
A: There may be update delays or limitations in the data due to the complexities involved in international price comparisons across diverse economic systems.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Gabon (PLOGDPGAA621NUPN), retrieved from FRED.