Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Georgia
PPCGDPGEA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
5,717.75
Year-over-Year Change
166.03%
Date Range
1/1/1993 - 1/1/2010
Summary
This economic trend measures Georgia's purchasing power parity (PPP) converted GDP per capita, using the Geary-Khamis (G-K) method and current prices. It provides a standardized comparison of 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 adjusts national GDP to reflect differences in the cost of living, providing a more accurate comparison of living standards between countries. The G-K method is a widely-used PPP calculation approach.
Methodology
The data is collected and calculated by the World Bank using a complex multilateral price and quantity comparison framework.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to evaluate economic development and living standards.
Key Facts
- Georgia's 2021 PPP GDP per capita was $15,251.
- PPP GDP accounts for cost-of-living differences across countries.
- The G-K method is a multilateral PPP calculation approach.
FAQs
Q: What does this economic trend measure?
A: This trend measures Georgia's GDP per capita adjusted for purchasing power parity (PPP), using the Geary-Khamis (G-K) method. It provides a standardized comparison of living standards across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and international organizations to evaluate economic development and living standards across countries, as it accounts for cost-of-living differences.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using a complex multilateral price and quantity comparison framework.
Q: How is this trend used in economic policy?
A: This PPP GDP per capita metric is used by economists, policymakers, and international organizations to assess and compare the economic development and living standards of different countries.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological limitations of the World Bank's PPP calculation framework.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Georgia (PPCGDPGEA620NUPN), retrieved from FRED.