Marshall Islands - GDP, PPP (current international $)

The latest value for GDP, PPP (current international $) in Marshall Islands was 245,533,100 as of 2020. Over the past 30 years, the value for this indicator has fluctuated between 248,085,900 in 2019 and 92,202,660 in 1990.

Definition: PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States. GDP is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current international dollars. For most economies PPP figures are extrapolated from the 2011 International Comparison Program (ICP) benchmark estimates or imputed using a statistical model based on the 2011 ICP. For 47 high- and upper middle-income economies conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD).

Source: World Bank, International Comparison Program database.

See also:

Year Value
1990 92,202,660
1991 95,404,450
1992 104,546,600
1993 113,452,800
1994 122,686,400
1995 135,546,800
1996 123,807,600
1997 117,898,600
1998 118,248,700
1999 118,450,300
2000 122,738,000
2001 133,992,100
2002 141,204,100
2003 141,502,400
2004 146,691,400
2005 154,820,500
2006 158,946,100
2007 168,488,400
2008 161,151,300
2009 167,550,800
2010 180,806,800
2011 183,453,400
2012 182,680,400
2013 193,355,200
2014 195,060,400
2015 200,096,500
2016 204,851,400
2017 215,486,700
2018 228,548,600
2019 248,085,900
2020 245,533,100

Statistical Concept and Methodology: Because exchange rates do not always reflect differences in price levels between countries, GDP and GDP per capita estimates are converted into international dollars using purchasing power parity (PPP) rates. PPP rates provide a standard measure allowing comparison of real levels of expenditure between countries, just as conventional price indexes allow comparison of real values over time. PPP rates are calculated by simultaneously comparing the prices of similar goods and services among a large number of countries. In the most recent round of price surveys conducted by the International Comparison Program (ICP) in 2011, 199 economies participated. The PPP conversion factors come from three sources. For 47 high- and upper middle-income countries conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD). For the remaining 2011 ICP countries the PPP estimates are extrapolated from the 2011 ICP benchmark results, which account for relative price changes between each economy and the United States. For countries that did not participate in the 2011 ICP round, the PPP estimates are imputed using a statistical model. More information on the results of the 2011 ICP is available at www.worldbank.org/data/icp.

Aggregation method: Gap-filled total

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: Purchasing power parity