Purchasing Power Parity over GDP for Fiji
PPPTTLFJA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
1.39
Year-over-Year Change
8.60%
Date Range
1/1/1960 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Fiji measures the ratio of a country's purchasing power parity to its nominal GDP. This metric provides insights into a nation's standard of living and economic 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) compares different countries' currencies by estimating the amount of adjustment needed to buy the same goods and services in each country. The PPP over GDP ratio offers a more accurate assessment of a country's economic output and development level than using just nominal GDP.
Methodology
The data is calculated by the World Bank using price surveys and national accounts data.
Historical Context
Policymakers and international organizations use this metric to evaluate economic performance and living standards across countries.
Key Facts
- Fiji's PPP over GDP ratio was 0.618 in 2018.
- A higher PPP over GDP ratio indicates greater purchasing power and a higher standard of living.
- Comparing PPP across countries provides a more accurate assessment of relative economic output.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Fiji measures the ratio of the country's purchasing power parity to its nominal GDP, providing insights into its standard of living and economic competitiveness.
Q: Why is this trend relevant for users or analysts?
A: This metric offers a more accurate assessment of a country's economic output and development level than just using nominal GDP, which is useful for policymakers and international organizations evaluating economic performance and living standards across countries.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using price surveys and national accounts data.
Q: How is this trend used in economic policy?
A: Policymakers and international organizations use the Purchasing Power Parity over GDP metric to evaluate economic performance and living standards across countries.
Q: Are there update delays or limitations?
A: The data is published by the World Bank with occasional delays, and may be subject to revisions as more information becomes available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Fiji (PPPTTLFJA618NUPN), retrieved from FRED.