An individual parrot's vocabulary depends on many factors, including (most importantly) the bird's intelligence. Your parrot is certainly one of the brighter ones if it can produce sentences, but it is not unique. How a bird responds to its vocal environment depends greatly on its character; some will only repeat a few words, but they will sound uncannily like their owners (I knew one parrot who loved to torment the owner's dogs by calling them and shouting at them in their master's voice). Some will attempt to replicate only, while some (like yours) will demonstrate a desire to communicate.
Animal language is a complex field, but scientists are certain that most animals have (at least) semi-complicated communication methods. Birds in particular are noted for their grasp of sentence structure, grammar and even dialect and accent; so there is no reason your parrot cannot translate this into a different language.
Probably the most intelligent animal at communicating with humans (at least, in a controlled environment) was a gorilla called Koko who was taught sign language, and who communicated in very technical terms with her keeper, describing abstract concepts like her moods, and even creating words when she didn't know the name for something (she famously complimented her keeper on his new "eye hat" - his glasses).