Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Albania
PPCGDPALA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,038.80
Year-over-Year Change
188.14%
Date Range
1/1/1970 - 1/1/2010
Summary
This trend measures the gross domestic product (GDP) per capita of Albania, adjusted for purchasing power parity. It provides a standardized metric for comparing economic output and living standards across countries.
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
Purchasing power parity (PPP) GDP per capita is a widely used economic indicator that accounts for differences in the cost of living between countries. The G-K method is a specific PPP conversion technique that facilitates international comparisons of real income and productivity.
Methodology
The data is calculated by the World Bank using the Geary-Khamis (G-K) method to convert national GDP figures into a common currency.
Historical Context
Policymakers and analysts use this metric to assess Albania's economic development and living standards relative to other nations.
Key Facts
- Albania's PPP-adjusted GDP per capita was $15,103 in 2021.
- This metric has grown by over 300% since Albania's transition to a market economy in the early 1990s.
- Albania's PPP GDP per capita is around 35% of the European Union average.
FAQs
Q: What does this economic trend measure?
A: This trend measures Albania's gross domestic product (GDP) per capita, adjusted for differences in purchasing power across countries using the Geary-Khamis (G-K) method.
Q: Why is this trend relevant for users or analysts?
A: Purchasing power parity GDP per capita is a key indicator of a country's economic development and living standards, allowing for meaningful international comparisons.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis method to convert Albania's national GDP figures into a common currency.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this metric to assess Albania's economic progress and living standards relative to other countries, informing policy decisions.
Q: Are there update delays or limitations?
A: There may be some delay in data availability, as the World Bank publishes these estimates on an annual basis.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Albania (PPCGDPALA620NUPN), retrieved from FRED.