Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Republic of Korea
RGDPLPKRA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
26,613.77
Year-over-Year Change
71.90%
Date Range
1/1/1953 - 1/1/2010
Summary
This trend measures the purchasing power parity (PPP) converted GDP per capita for the Republic of Korea, 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
Purchasing power parity (PPP) is an economic theory that compares different countries' currencies through a 'basket of goods' approach. This PPP-converted GDP per capita metric provides a standardized way to assess economic output and living standards across countries.
Methodology
The data is calculated by the World Bank using growth rates of key economic components.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to compare living standards and economic development across nations.
Key Facts
- South Korea's GDP per capita in PPP terms was $35,274 in 2020.
- Korea's PPP-adjusted GDP per capita is about 70% of the United States' level.
- This metric adjusts for cost-of-living differences between countries.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for the Republic of Korea, derived from growth rates of consumption, government consumption, and investment.
Q: Why is this trend relevant for users or analysts?
A: This PPP-adjusted GDP per capita metric provides a standardized way to compare living standards and economic output across different countries, allowing for more accurate international comparisons.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using growth rates of key economic components.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international organizations to assess and compare economic development and living standards across nations.
Q: Are there update delays or limitations?
A: The data may have some update delays, as it relies on growth rate calculations from 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 Republic of Korea (RGDPLPKRA625NUPN), retrieved from FRED.