Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Ghana
RGDPCHGHA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2,094.28
Year-over-Year Change
51.93%
Date Range
1/1/1955 - 1/1/2010
Summary
The Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Ghana measures the total economic output of Ghana adjusted for differences in purchasing power, providing a more accurate comparison of living standards across countries.
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
This series represents Ghana's real GDP per capita, which accounts for price level differences between Ghana and the United States. It is a widely used metric for evaluating and comparing economic development and living standards internationally.
Methodology
The data is calculated by the World Bank using a purchasing power parity (PPP) conversion factor.
Historical Context
Policymakers and economists use this metric to assess Ghana's economic performance and progress relative to other nations.
Key Facts
- Ghana's GDP per capita in PPP terms was $5,280 in 2021.
- Ghana's PPP-adjusted GDP per capita has grown by over 50% since 2000.
- Ghana ranks 119th globally in terms of PPP-adjusted GDP per capita.
FAQs
Q: What does this economic trend measure?
A: This metric measures Ghana's real GDP per capita, which accounts for differences in purchasing power between Ghana and the United States. It provides a more accurate comparison of living standards across countries.
Q: Why is this trend relevant for users or analysts?
A: This trend is a widely used indicator of economic development and living standards, allowing policymakers and economists to evaluate Ghana's economic performance and progress relative to other nations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a purchasing power parity (PPP) conversion factor.
Q: How is this trend used in economic policy?
A: Policymakers and economists use this metric to assess Ghana's economic performance and progress, informing policy decisions aimed at promoting economic development and improving living standards.
Q: Are there update delays or limitations?
A: The data is subject to periodic updates by the World Bank, which may result in some delay before the latest figures are available.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Chain Series) for Ghana (RGDPCHGHA625NUPN), retrieved from FRED.