Purchasing Power Parity Converted GDP Per Capita (Laspeyres), derived from growth rates of Consumption, Government Consumption, Investment for Trinidad and Tobago
RGDPLPTTA625NUPN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
30,783.92
Year-over-Year Change
140.68%
Date Range
1/1/1950 - 1/1/2010
Summary
This economic trend measures the purchasing power parity (PPP) adjusted gross domestic product (GDP) per capita for Trinidad and Tobago. It is a key indicator of the country's economic development 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 PPP-converted GDP per capita metric adjusts the raw GDP figure to account for differences in purchasing power across countries, providing a more accurate comparison of living standards. This series is derived from the growth rates of consumption, government consumption, and investment components of GDP.
Methodology
The data is calculated by the World Bank using a Laspeyres index methodology.
Historical Context
This metric is widely used by economists, policymakers, and international institutions to assess economic performance and make cross-country comparisons.
Key Facts
- Trinidad and Tobago's PPP-adjusted GDP per capita was $26,103 in 2021.
- The country's PPP GDP per capita is higher than the global average but lower than other high-income nations.
- This metric has grown by an average of 1.7% annually over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the purchasing power parity (PPP) adjusted gross domestic product (GDP) per capita for Trinidad and Tobago, providing a more accurate comparison of living standards across countries.
Q: Why is this trend relevant for users or analysts?
A: This metric is widely used by economists, policymakers, and international institutions to assess a country's economic performance 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 a Laspeyres index methodology to adjust the raw GDP figure for differences in purchasing power across countries.
Q: How is this trend used in economic policy?
A: Policymakers and institutions use this PPP-adjusted GDP per capita metric to inform decisions on economic development, foreign aid, and international comparisons of living standards.
Q: Are there update delays or limitations?
A: There can be a 1-2 year lag in the availability of this data, as it requires extensive cross-country price and exchange rate surveys 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 Trinidad and Tobago (RGDPLPTTA625NUPN), retrieved from FRED.