Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for South Africa
PPCGDPZAA620NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
8,907.70
Year-over-Year Change
90.16%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the purchasing power-adjusted GDP per capita for South Africa, providing insights into the country's standard of living 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
Purchasing power parity (PPP) GDP per capita is a metric that adjusts for differences in price levels between countries, allowing for more accurate comparisons of living standards and economic productivity. The G-K method is a specific PPP conversion technique.
Methodology
The data is calculated by the World Bank using the Geary-Khamis (G-K) method to convert GDP into a common currency.
Historical Context
This metric is widely used by economists, policymakers, and international organizations to evaluate economic performance and living standards across countries.
Key Facts
- South Africa's PPP-adjusted GDP per capita was $13,824 in 2021.
- The G-K method is a widely used approach for calculating purchasing power parity.
- PPP GDP per capita provides a more accurate picture of living standards than nominal GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power-adjusted GDP per capita for South Africa, which provides insights into the country's standard of living and economic development.
Q: Why is this trend relevant for users or analysts?
A: PPP GDP per capita is a widely used metric for comparing living standards and economic productivity across countries, as it adjusts for differences in price levels.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Geary-Khamis (G-K) method to convert GDP into a common currency.
Q: How is this trend used in economic policy?
A: This metric is used by economists, policymakers, and international organizations to evaluate economic performance and living standards across countries, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the release schedule and methodological updates of the World Bank, which may result in periodic revisions and potential delays.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita, G-K method, at current prices for South Africa (PPCGDPZAA620NUPN), retrieved from FRED.