Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Samoa
PPCGDPWSA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,307.34
Year-over-Year Change
74.93%
Date Range
1/1/1970 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Samoa measures the total economic output of Samoa adjusted for differences in purchasing power across countries, providing a more accurate comparison of living standards.
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
This metric represents the value of all final goods and services produced within Samoa in a given year, divided by the total population and adjusted for price level differences between Samoa and a reference country. It is a key indicator used to assess a country's economic development and living standards relative to other nations.
Methodology
The data is calculated by the World Bank using the Geary-Khamis 'international dollar' method to convert local currency GDP figures into a common unit.
Historical Context
Policymakers and economists use this purchasing power parity-adjusted GDP per capita statistic to make cross-country comparisons and evaluate economic performance.
Key Facts
- Samoa's 2021 PPP-adjusted GDP per capita was $7,251.
- Samoa's PPP GDP per capita has grown by 31% over the past decade.
- GDP per capita adjusted for purchasing power is a better indicator of living standards than nominal GDP.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Samoa measures the total economic output of Samoa adjusted for differences in purchasing power across countries.
Q: Why is this trend relevant for users or analysts?
A: This purchasing power parity-adjusted GDP per capita statistic allows for more accurate cross-country comparisons of living standards and economic development.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis 'international dollar' method to convert local currency GDP figures into a common unit.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this PPP-adjusted GDP per capita statistic to make cross-country comparisons and evaluate economic performance.
Q: Are there update delays or limitations?
A: The data is typically published with a 1-2 year lag due to the time required to collect and process the underlying national accounts information.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for Samoa (PPCGDPWSA620NUPN), retrieved from FRED.