Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Solomon Islands
PPCGDPSBA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,192.91
Year-over-Year Change
12.95%
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 Solomon Islands, using the Geary-Khamis (G-K) method at current prices. It provides a standardized metric for comparing economic productivity and 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
The PPP-converted GDP per capita is a widely used indicator of a country's economic development and quality of life. It accounts for differences in purchasing power between countries, allowing more accurate cross-country comparisons than using market exchange rates alone.
Methodology
The data is calculated by the World Bank using the G-K method, which relies on price surveys and GDP estimates.
Historical Context
Economists and policymakers use this metric to assess economic performance and living standards relative to other nations.
Key Facts
- Solomon Islands' PPP-converted GDP per capita was $2,250 in 2021.
- This ranks Solomon Islands 145th out of 189 countries and territories.
- The PPP-converted GDP per capita has grown by 2.3% annually since 2010.
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 Solomon Islands, using the Geary-Khamis (G-K) method at current prices.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita is a widely used indicator of a country's economic development and living standards, allowing for more accurate cross-country comparisons than using market exchange rates alone.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the G-K method, which relies on price surveys and GDP estimates.
Q: How is this trend used in economic policy?
A: Economists and policymakers use this metric to assess economic performance and living standards in Solomon Islands relative to other nations, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Solomon Islands (PPCGDPSBA620NUPN), retrieved from FRED.