Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Philippines
RGDPLPPHA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3,193.63
Year-over-Year Change
33.44%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) converted GDP per capita for the Philippines, derived from growth rates of consumption, government consumption, and investment. It provides insights into the standard of living and economic productivity in the country.
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 Converted GDP Per Capita (Laspeyres) trend is an important indicator of a country's economic development and living standards. It adjusts the GDP per capita figure to account for differences in price levels between countries, allowing for more accurate cross-country comparisons.
Methodology
The data is calculated by the World Bank using a Laspeyres index formula that combines growth rates of various GDP components.
Historical Context
This trend is widely used by economists, policymakers, and international organizations to assess the Philippines' economic performance and living conditions relative to other countries.
Key Facts
- GDP per capita in the Philippines was $8,443 in 2021.
- The Philippines' GDP per capita is about 15% of the U.S. level.
- PPP-adjusted GDP per capita has grown by over 50% in the Philippines since 2000.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) converted GDP per capita for the Philippines, which adjusts the standard GDP per capita figure to account for differences in price levels between countries.
Q: Why is this trend relevant for users or analysts?
A: This trend provides a more accurate assessment of the Philippines' economic development and living standards compared to other countries, which is crucial for policymakers, international organizations, and economic analysts.
Q: How is this data collected or calculated?
A: The data is calculated by the World Bank using a Laspeyres index formula that combines growth rates of various GDP components.
Q: How is this trend used in economic policy?
A: This trend is widely used by economists, policymakers, and international organizations to assess the Philippines' economic performance and living conditions relative to other countries, informing policy decisions and international comparisons.
Q: Are there update delays or limitations?
A: The data is published annually by the World Bank, with a delay of approximately one 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 Philippines (RGDPLPPHA625NUPN), retrieved from FRED.