Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Taiwan
PPCGDPTWA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
32,294.06
Year-over-Year Change
64.41%
Date Range
1/1/1951 - 1/1/2010
Summary
This economic trend measures the gross domestic product (GDP) per capita of Taiwan, adjusted for differences in purchasing power across countries. It provides a more accurate comparison of living standards and economic development.
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 Purchasing Power Parity (PPP) Converted GDP Per Capita metric adjusts national GDP to account for differences in the cost of living and price levels across countries. This allows for better international comparisons of economic output and standards of living.
Methodology
The data is collected and calculated by the World Bank using the Geary-Khamis (G-K) method.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess and compare the relative economic performance of different countries.
Key Facts
- Taiwan's PPP-adjusted GDP per capita was $57,301 in 2021.
- Taiwan's PPP GDP per capita is 24% higher than the global average.
- The PPP adjustment accounts for differences in the cost of living across countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the gross domestic product (GDP) per capita of Taiwan, adjusted for differences in purchasing power across countries. It provides a more accurate comparison of living standards and economic development.
Q: Why is this trend relevant for users or analysts?
A: The PPP-adjusted GDP per capita metric is widely used by economists, policymakers, and international organizations to assess and compare the relative economic performance and living standards of different countries.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the World Bank using the Geary-Khamis (G-K) method, which adjusts national GDP to account for differences in the cost of living and price levels across countries.
Q: How is this trend used in economic policy?
A: This trend is used by economists, policymakers, and international organizations to analyze and compare the economic development and living standards of different countries, which informs policy decisions and international economic cooperation.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 year lag, and the methodology may be subject to ongoing refinements by the World Bank.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Taiwan (PPCGDPTWA620NUPN), retrieved from FRED.