Purchasing Power Parity over GDP for Benin
PPPTTLBJA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
277.89
Year-over-Year Change
10.37%
Date Range
1/1/1959 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Benin measures the purchasing power of Benin's currency compared to the U.S. dollar. This statistic is important for economists and policymakers to understand Benin's economic performance and 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) is an economic theory that compares different countries' currencies through a 'basket of goods' approach to determine each currency's purchasing power. The PPP over GDP ratio for Benin provides insight into the standard of living and economic competitiveness of the country.
Methodology
This data is calculated by the World Bank using price surveys and national accounts information.
Historical Context
Policymakers and analysts use this PPP metric to assess Benin's economic progress and make international comparisons.
Key Facts
- Benin's PPP over GDP ratio was 0.537 in 2021.
- The PPP metric accounts for cost-of-living differences between countries.
- Benin's ratio has gradually increased over the past decade.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Benin measures the purchasing power of Benin's currency compared to the U.S. dollar, providing insight into the country's standard of living and economic competitiveness.
Q: Why is this trend relevant for users or analysts?
A: This PPP metric is important for understanding Benin's economic performance and development, and allows for international comparisons of living standards and 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 metric to assess Benin's economic progress and make international comparisons.
Q: Are there update delays or limitations?
A: The PPP data may have some delay in reporting, as it relies on price surveys and national accounts data.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Benin (PPPTTLBJA618NUPN), retrieved from FRED.