Palau - GDP, PPP (current international $)

The latest value for GDP, PPP (current international $) in Palau was 295,297,400 as of 2020. Over the past 20 years, the value for this indicator has fluctuated between 323,727,000 in 2018 and 190,216,100 in 2000.

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
2000 190,216,100
2001 206,907,200
2002 217,703,100
2003 214,509,700
2004 230,981,800
2005 247,608,200
2006 254,066,500
2007 266,164,500
2008 255,653,000
2009 240,624,800
2010 243,954,700
2011 265,696,400
2012 275,321,300
2013 270,663,300
2014 293,020,400
2015 318,112,900
2016 321,182,800
2017 316,475,900
2018 323,727,000
2019 323,257,800
2020 295,297,400

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