Expenditure-side Real GDP at Chained Purchasing Power Parities for Ecuador
RGDPESECA666NRUG • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
195,248.41
Year-over-Year Change
58.87%
Date Range
1/1/1950 - 1/1/2019
Summary
This economic trend measures the expenditure-side real gross domestic product (GDP) of Ecuador, adjusted for differences in purchasing power across countries. It provides insight into the overall size and growth of Ecuador's economy.
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
The expenditure-side real GDP at chained purchasing power parities (PPPs) for Ecuador is a key metric used by economists and policymakers to evaluate the country's economic performance. It adjusts the nominal GDP to account for price level differences between Ecuador and a reference country, enabling cross-country comparisons.
Methodology
The data is calculated by the World Bank using expenditure-side national accounts and PPP conversion factors.
Historical Context
This trend is widely used to assess Ecuador's economic competitiveness and living standards relative to other nations.
Key Facts
- Ecuador's GDP was $98.82 billion in 2021.
- Ecuador's real GDP grew by 2.5% in 2021.
- Ecuador's GDP per capita at PPP was $11,577 in 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the size of Ecuador's economy, adjusted for differences in purchasing power across countries. It provides a more accurate comparison of living standards and economic activity than nominal GDP.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for evaluating Ecuador's economic performance and competitiveness relative to other nations. It enables better-informed decisions by policymakers, investors, and analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using expenditure-side national accounts and purchasing power parity (PPP) conversion factors.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international organizations to assess Ecuador's economic development, living standards, and competitiveness within the global market.
Q: Are there update delays or limitations?
A: The data is published with a lag, and there may be revisions to historical values as more information becomes available.
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Citation
U.S. Federal Reserve, Expenditure-side Real GDP at Chained Purchasing Power Parities for Ecuador (RGDPESECA666NRUG), retrieved from FRED.