Purchasing Power Parity over GDP for Ireland
PPPTTLIEA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.88
Year-over-Year Change
5.82%
Date Range
1/1/1950 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Ireland measures the relative purchasing power of the Irish economy compared to other countries. This metric is crucial for economists and policymakers to assess Ireland's economic competitiveness and cost of living.
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 and statistical measure that estimates the relative purchasing power of different currencies. The PPP over GDP ratio for Ireland compares the Irish economy's cost structure to the global average, providing insights into its international trade position and standard of living.
Methodology
The data is calculated by the World Bank using price surveys and national accounts data.
Historical Context
PPP ratios inform assessments of economic policies, trade agreements, and Ireland's integration within the global economy.
Key Facts
- Ireland's PPP over GDP ratio was 0.92 in 2021.
- A PPP ratio below 1 indicates Ireland's cost of living is lower than the global average.
- Tracking PPP trends helps evaluate Ireland's export competitiveness.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity (PPP) over GDP ratio for Ireland compares the cost structure of the Irish economy to the global average, providing insights into its international trade position and standard of living.
Q: Why is this trend relevant for users or analysts?
A: PPP ratios are crucial for economists and policymakers to assess a country's economic competitiveness and cost of living, which informs trade policies, investment decisions, and measures of living standards.
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: PPP ratios inform assessments of economic policies, trade agreements, and a country's integration within the global economy.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a potential delay of 1-2 years in the most recent figures.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Ireland (PPPTTLIEA618NUPN), retrieved from FRED.