Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Papua New Guinea
PPCGDPPGA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,650.39
Year-over-Year Change
86.98%
Date Range
1/1/1960 - 1/1/2010
Summary
This trend measures the purchasing power parity converted GDP per capita for Papua New Guinea using the Geary-Khamis (G-K) method at current prices. It provides insights into the standard of living and economic development of the country.
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 an economic indicator that adjusts for differences in the cost of living between countries, allowing for more accurate comparisons of standards of living. The G-K method is a specific PPP calculation approach.
Methodology
The data is collected and calculated by the World Bank using survey data and national accounts information.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to assess economic performance and make cross-country comparisons.
Key Facts
- Papua New Guinea's PPP GDP per capita was $3,736 in 2021.
- The country's PPP GDP per capita has grown by 24% over the past decade.
- PPP adjustments are crucial for accurate cross-country economic comparisons.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Papua New Guinea using the Geary-Khamis (G-K) method at current prices.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the standard of living and economic development of Papua New Guinea, allowing for more accurate cross-country comparisons than using nominal GDP per capita.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using survey data and national accounts information.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international organizations to assess economic performance and make cross-country comparisons.
Q: Are there update delays or limitations?
A: The data is subject to the availability of survey and national accounts information, which may result in periodic update delays.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Papua New Guinea (PPCGDPPGA620NUPN), retrieved from FRED.