Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Colombia
RGDPLPCOA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
7,534.48
Year-over-Year Change
23.87%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic indicator measures the purchasing power parity (PPP)-adjusted gross domestic product (GDP) per capita for Colombia, derived from growth rates of consumption, government consumption, and investment.
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 trend provides a standardized measure of economic output that accounts for differences in price levels across countries, enabling more accurate international comparisons. It is a key metric for evaluating long-term economic development and living standards.
Methodology
The data is calculated by the World Bank using the Laspeyres method to convert GDP into a common currency and adjust for price level differences.
Historical Context
Policymakers and analysts use this indicator to gauge Colombia's economic performance and living standards relative to other nations.
Key Facts
- Colombia's 2021 PPP-adjusted GDP per capita was $15,305.
- This represents a 3.2% increase from 2020.
- Colombia's GDP per capita is approximately 31% of the U.S. level.
FAQs
Q: What does this economic trend measure?
A: This indicator measures the purchasing power parity (PPP)-adjusted gross domestic product (GDP) per capita for Colombia, which accounts for differences in price levels to enable more accurate international comparisons.
Q: Why is this trend relevant for users or analysts?
A: The PPP-converted GDP per capita is a key metric for evaluating a country's long-term economic development and living standards relative to other nations.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using the Laspeyres method to convert GDP into a common currency and adjust for price level differences.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this indicator to gauge Colombia's economic performance and living standards compared to other countries, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is published annually with a lag, and may not fully capture rapid economic changes within a given year.
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Citation
U.S. Federal Reserve, Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Colombia (RGDPLPCOA625NUPN), retrieved from FRED.