Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Bahamas
RGDPL2BSA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30,272.76
Year-over-Year Change
2.45%
Date Range
1/1/1970 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for the Bahamas, derived from growth rates of domestic absorption. It provides insights into the country's economic development and living standards relative to other nations.
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 PPP-converted GDP per capita is a widely used metric that adjusts for differences in price levels between countries, allowing for more accurate comparisons of economic output and living standards. This trend specifically uses the Laspeyres methodology, which is a common approach for calculating real GDP growth.
Methodology
The data is collected and calculated by the U.S. Federal Reserve using growth rates of domestic absorption.
Historical Context
This trend is relevant for economists, policymakers, and investors analyzing the Bahamian economy and its performance relative to global benchmarks.
Key Facts
- The Bahamas' GDP per capita was $31,447 in 2020.
- The Bahamas' economy is heavily reliant on tourism and financial services.
- The Bahamas has a population of approximately 393,000 as of 2020.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for the Bahamas, which adjusts for differences in price levels to provide a more accurate comparison of economic output and living standards.
Q: Why is this trend relevant for users or analysts?
A: This trend is relevant for economists, policymakers, and investors analyzing the Bahamian economy and its performance relative to global benchmarks, as it provides insights into the country's economic development and living standards.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the U.S. Federal Reserve using growth rates of domestic absorption.
Q: How is this trend used in economic policy?
A: This trend is used by economists and policymakers to assess the Bahamian economy's performance and competitiveness, as well as to inform economic policies and investment decisions.
Q: Are there update delays or limitations?
A: The data is subject to the availability and release schedule of the U.S. Federal Reserve, which may result in occasional update delays or limitations.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Bahamas (RGDPL2BSA625NUPN), retrieved from FRED.