Price Level of GDP, G-K method for Liberia
PLOGDPLRA621NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
48.01
Year-over-Year Change
-10.62%
Date Range
1/1/1970 - 1/1/2010
Summary
The Price Level of GDP, G-K method for Liberia measures the relative cost of goods and services produced within the Liberian economy. This metric is crucial for economists and policymakers to assess the country's 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
The Price Level of GDP, G-K method for Liberia is an index that compares the purchasing power of the Liberian dollar to a reference point, typically the U.S. dollar. It provides insights into the cost of living and production in Liberia relative to other economies.
Methodology
The data is calculated by the U.S. Federal Reserve using the Geary-Khamis (G-K) method, which adjusts for differences in relative prices across countries.
Historical Context
This metric is widely used by economists, investors, and policymakers to evaluate Liberia's economic performance and competitiveness.
Key Facts
- The Price Level of GDP for Liberia is currently 0.24 (2021 data).
- Liberia's GDP price level is significantly lower than the U.S., indicating lower costs of production.
- This metric has implications for Liberia's export competitiveness and foreign investment.
FAQs
Q: What does this economic trend measure?
A: The Price Level of GDP, G-K method for Liberia measures the relative cost of goods and services produced within the Liberian economy compared to a reference point, typically the U.S.
Q: Why is this trend relevant for users or analysts?
A: This metric is crucial for evaluating Liberia's economic development, cost of living, and international competitiveness, which are key considerations for economists, policymakers, and investors.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Federal Reserve using the Geary-Khamis (G-K) method, which adjusts for differences in relative prices across countries.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, investors, and policymakers to assess Liberia's economic performance and competitiveness, which informs decision-making on trade, investment, and macroeconomic policies.
Q: Are there update delays or limitations?
A: The data is published by the U.S. Federal Reserve, and there may be some delays in updates due to the complexity of the G-K method and data collection process.
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Citation
U.S. Federal Reserve, Price Level of GDP, G-K method for Liberia (PLOGDPLRA621NUPN), retrieved from FRED.