Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Ecuador
RGDPLPECA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
6,226.08
Year-over-Year Change
27.22%
Date Range
1/1/1951 - 1/1/2010
Summary
This trend measures Ecuador's purchasing power parity-adjusted GDP per capita, calculated from growth rates in consumption, government spending, and investment. It provides a comprehensive picture of the country's economic performance and living standards.
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 purchasing power parity (PPP) converted GDP per capita metric adjusts for differences in price levels across countries, allowing for more accurate international comparisons of living standards and economic development. This dataset derived from growth rates is a widely used indicator of a nation's economic health and development trajectory.
Methodology
The data is calculated by the World Bank using a Laspeyres index formula based on growth rates in key economic components.
Historical Context
Policymakers and analysts use this metric to evaluate Ecuador's economic competitiveness and progress relative to other nations.
Key Facts
- Ecuador's GDP per capita in 2021 was $11,824.
- Ecuador's GDP per capita has grown by an average of 1.5% annually over the past decade.
- Purchasing power parity accounts for cost-of-living differences between Ecuador and other countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures Ecuador's purchasing power parity (PPP) adjusted GDP per capita, which provides a more accurate comparison of living standards and economic development than nominal GDP per capita.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by policymakers, economists, and investors to evaluate Ecuador's economic competitiveness 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 Laspeyres index formula based on growth rates in key economic components like consumption, government spending, and investment.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this PPP-adjusted GDP per capita metric to assess Ecuador's economic performance, living standards, and competitiveness compared to other countries.
Q: Are there update delays or limitations?
A: There may be lags in data availability due to the time required for collection and calculation by the World Bank.
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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 Ecuador (RGDPLPECA625NUPN), retrieved from FRED.