Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of domestic absorption for Eritrea
RGDPL2ERA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
574.55
Year-over-Year Change
-35.89%
Date Range
1/1/1992 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for Eritrea, adjusted using Laspeyres methodology. It provides insights into the country's economic output 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 metric adjusts for differences in price levels between countries, allowing for more accurate comparisons of economic well-being. This Laspeyres-derived series uses growth rates of domestic absorption to calculate the GDP per capita figure.
Methodology
The data is calculated by the World Bank using domestic price and exchange rate information.
Historical Context
This metric is widely used by economists, policymakers, and international institutions to evaluate Eritrea's economic performance and development.
Key Facts
- Eritrea's 2021 GDP per capita (PPP) was $1,773.
- Eritrea's GDP per capita (PPP) has grown by 1.8% annually on average over the past decade.
- Eritrea ranks 179th globally in GDP per capita (PPP) as of 2021.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for Eritrea, adjusted using the Laspeyres methodology.
Q: Why is this trend relevant for users or analysts?
A: This metric provides a more accurate comparison of Eritrea's economic output and living standards relative to other countries, as it accounts for differences in price levels.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using domestic price and exchange rate information.
Q: How is this trend used in economic policy?
A: This metric is widely used by economists, policymakers, and international institutions to evaluate Eritrea's economic performance and development.
Q: Are there update delays or limitations?
A: The data is subject to the availability of underlying price and exchange rate information for Eritrea.
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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 Eritrea (RGDPL2ERA625NUPN), retrieved from FRED.