Purchasing Power Parity over GDP for Jamaica
PPPTTLJMA618NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
42.80
Year-over-Year Change
157.33%
Date Range
1/1/1953 - 1/1/2010
Summary
The Purchasing Power Parity over GDP for Jamaica measures the relative purchasing power of the Jamaican dollar compared to the U.S. dollar, providing insights into the country's economic conditions and standards 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 that compares different countries' currencies through a 'basket' of goods. This PPP over GDP trend specifically looks at the ratio of Jamaica's PPP to its nominal GDP, offering a gauge of the country's cost of living and economic development relative to the United States.
Methodology
The data is calculated by the World Bank using price surveys and national accounts information.
Historical Context
Policymakers and analysts use this PPP trend to assess Jamaica's economic competitiveness and make more accurate cross-country comparisons.
Key Facts
- Jamaica's PPP over GDP ratio was 0.618 in 2020.
- This indicates the Jamaican dollar has significantly less purchasing power than the U.S. dollar.
- Adjusting for PPP is important for accurately comparing Jamaica's standard of living to other countries.
FAQs
Q: What does this economic trend measure?
A: The Purchasing Power Parity over GDP for Jamaica measures the relative purchasing power of the Jamaican dollar compared to the U.S. dollar, providing insights into the country's economic conditions and standards of living.
Q: Why is this trend relevant for users or analysts?
A: This PPP over GDP trend offers a gauge of Jamaica's cost of living and economic development relative to the United States, which is useful for policymakers and analysts assessing the country's economic competitiveness and making cross-country comparisons.
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 trend to assess Jamaica's economic competitiveness and make more accurate cross-country comparisons.
Q: Are there update delays or limitations?
A: There may be some time lag in data availability, as the World Bank collects and publishes the PPP information.
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Citation
U.S. Federal Reserve, Purchasing Power Parity over GDP for Jamaica (PPPTTLJMA618NUPN), retrieved from FRED.