Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Thailand
PPCGDPTHA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
9,212.03
Year-over-Year Change
88.24%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the Purchasing Power Parity (PPP) adjusted Gross Domestic Product (GDP) per capita for Thailand, using the Geary-Khamis (G-K) method at current prices. It provides a standardized comparison of economic output 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 metric adjusts for differences in price levels between countries, allowing for more accurate international comparisons of economic well-being and productivity. The G-K method is a sophisticated approach to calculating PPP that considers a broader basket of goods and services.
Methodology
The data is collected and calculated by the World Bank using a specialized PPP conversion formula.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to evaluate Thailand's economic development relative to other nations.
Key Facts
- Thailand's PPP-adjusted GDP per capita was $18,746 in 2021.
- This metric has grown by over 5% annually in Thailand since 2000.
- Thailand ranks 79th globally in PPP-converted GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This indicator measures Thailand's Gross Domestic Product (GDP) per capita, adjusted for differences in purchasing power parity (PPP) across countries using the Geary-Khamis (G-K) method.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita provides a more accurate basis for comparing living standards and economic output between Thailand and other nations, as it accounts for price level differences.
Q: How is this data collected or calculated?
A: The World Bank collects and calculates this data using a specialized PPP conversion formula.
Q: How is this trend used in economic policy?
A: Policymakers and international organizations utilize this metric to evaluate Thailand's economic development and living standards relative to its peers, informing decisions on trade, investment, and development policies.
Q: Are there update delays or limitations?
A: There is typically a 1-2 year lag in the availability of this data, as the PPP calculations require extensive international price surveys and data compilation.
Related Trends
Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Australia
PCDGDPAUA620NUPN
Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Eritrea
PCDGDPERA620NUPN
Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Costa Rica
PC2GDPCRA620NUPN
Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Japan
PPCGDPJPA620NUPN
Purchasing Power Parity Converted Domestic Absorption Per Capita, average GEKS-CPDW, at current prices for Haiti
PCDGDPHTA620NUPN
Purchasing Power Parity Converted GDP Per Capita, average GEKS-CPDW, at current prices for Turkmenistan
PC2GDPTMA620NUPN
Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Thailand (PPCGDPTHA620NUPN), retrieved from FRED.