Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Bahamas
PPCGDPBSA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30,998.86
Year-over-Year Change
25.33%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita for the Bahamas, using the Geary-Khamis (G-K) method and at current prices. It provides insights into the country's economic productivity and living standards relative to other nations.
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 PPP-converted GDP per capita represents the total economic output of a country, adjusted for differences in purchasing power across countries. This metric allows for more accurate cross-country comparisons of living standards and productivity than using nominal exchange rates.
Methodology
The data is collected and calculated by the World Bank using the Geary-Khamis method, a multilateral system for making international comparisons of GDP and other economic indicators.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to analyze economic development and make informed decisions.
Key Facts
- The Bahamas had a PPP-converted GDP per capita of $30,305 in 2021.
- This places the Bahamas among the highest-income countries in the Caribbean region.
- PPP-adjusted GDP per capita accounts for differences in the cost of living across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the Purchasing Power Parity (PPP) converted Gross Domestic Product (GDP) per capita for the Bahamas, using the Geary-Khamis (G-K) method and at current prices.
Q: Why is this trend relevant for users or analysts?
A: This metric allows for more accurate cross-country comparisons of living standards and productivity than using nominal exchange rates, providing insights into the Bahamas' economic performance and development.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using the Geary-Khamis method, a multilateral system for making international comparisons of GDP and other economic indicators.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international organizations to analyze economic development and make informed decisions about the Bahamas' economy and its position relative to other countries.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with some delay in availability due to the complex methodology used to calculate the PPP-adjusted GDP per capita.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Bahamas (PPCGDPBSA620NUPN), retrieved from FRED.