Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Israel
PPCGDPILA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
29,325.27
Year-over-Year Change
54.36%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for Israel, using the Geary-Khamis (G-K) method and current prices. It provides a standardized metric for comparing Israel's economic output and standard of living relative to other 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
The PPP-converted GDP per capita metric adjusts for differences in price levels between countries, allowing for more accurate cross-country comparisons of economic activity and living standards. The G-K method is a commonly used approach that relies on a system of weights to aggregate national price levels.
Methodology
The data is calculated by the World Bank using a multilateral price comparison framework.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to assess economic development and make informed decisions.
Key Facts
- Israel's PPP-converted GDP per capita was $42,130 in 2021.
- Israel's GDP per capita is approximately 75% of the United States' level.
- PPP adjustments are crucial for understanding true living standards across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Israel, using the Geary-Khamis (G-K) method and current prices. It provides a standardized metric for comparing Israel's economic output and standard of living relative to other countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and international organizations to assess economic development and make informed decisions about cross-country comparisons of living standards and economic activity.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a multilateral price comparison framework.
Q: How is this trend used in economic policy?
A: This metric is used by policymakers, economists, and international organizations to evaluate economic performance, inform policy decisions, and make comparisons of living standards across countries.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the World Bank, which may result in some delay between the reference period and the availability of the latest figures.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Israel (PPCGDPILA620NUPN), retrieved from FRED.