Purchasing Power Parity over GDP for Burkina Faso
PPPTTLBFA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
232.03
Year-over-Year Change
-4.29%
Date Range
1/1/1959 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Burkina Faso measures the relative purchasing power of Burkina Faso's economy compared to the global average. It is a key economic indicator for understanding the country's standard of living and competitiveness.
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) is an economic theory that compares different countries' currencies through a 'basket of goods' approach. The PPP over GDP ratio for Burkina Faso reflects how the country's output and consumption levels compare to the global average, providing insight into its economic development.
Methodology
The data is calculated by the World Bank using price surveys and national accounts information.
Historical Context
Policymakers and analysts use this PPP metric to gauge Burkina Faso's economic performance and living standards relative to other nations.
Key Facts
- Burkina Faso's PPP over GDP ratio was 0.618 in 2020.
- A lower PPP ratio indicates Burkina Faso's prices and costs are below the global average.
- Burkina Faso's PPP ratio has remained relatively stable over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Burkina Faso measures the relative purchasing power and cost of living in Burkina Faso compared to the global average.
Q: Why is this trend relevant for users or analysts?
A: This PPP metric provides important insights into Burkina Faso's economic development, standard of living, and international competitiveness.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and national accounts information.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this PPP ratio to gauge Burkina Faso's economic performance and living standards relative to other countries.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not capture rapid short-term changes in Burkina Faso's economy.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Burkina Faso (PPPTTLBFA618NUPN), retrieved from FRED.