Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Belgium
PPCGDPBEA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
39,759.48
Year-over-Year Change
53.77%
Date Range
1/1/1950 - 1/1/2010
Summary
The 'Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Belgium' measures the economic output per person in Belgium, adjusted for differences in purchasing power 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
This metric provides a more accurate comparison of living standards and economic productivity between nations by accounting for price level differences. It is a widely used indicator for evaluating and benchmarking economic development.
Methodology
The data is calculated by the U.S. Bureau of Economic Analysis using the Geary-Khamis method to convert national GDP figures into a common unit.
Historical Context
Policymakers and analysts utilize this trend to assess Belgium's relative economic performance and living standards.
Key Facts
- Belgium's GDP per capita in purchasing power parity terms was $52,194 in 2021.
- Belgium's GDP per capita is among the highest in the European Union.
- The G-K method is a widely accepted approach for comparing economic output across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) per capita in Belgium, adjusted for differences in purchasing power across countries using the Geary-Khamis method.
Q: Why is this trend relevant for users or analysts?
A: This trend provides a more accurate comparison of living standards and economic productivity between nations by accounting for price level differences, making it a widely used indicator for evaluating and benchmarking economic development.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Economic Analysis using the Geary-Khamis method to convert national GDP figures into a common unit.
Q: How is this trend used in economic policy?
A: Policymakers and analysts utilize this trend to assess Belgium's relative economic performance and living standards compared to other countries.
Q: Are there update delays or limitations?
A: The data is subject to the availability and release schedule of the underlying economic statistics from the U.S. Bureau of Economic Analysis.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Belgium (PPCGDPBEA620NUPN), retrieved from FRED.