Definition: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller.
Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of January 1, 2014See also: GDP (purchasing power parity) map
Is The United States Still The Best Country In The World? Think Again
Value Walk - 7/31/2015 12:32:44 PM
Is The United States Still The Best Country In The World? Think Again - Introduction ... we are no longer the world’s largest economy when adjustments are made for purchasing power parity. On the basis of purchasing power (and not by converting ...
Top 10 Countries By GDP purchasing power parity
Jagran Josh - 9/22/2011 11:58:53 AM
This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity ... many countries do not formally participate in the World Bank's PPP project ...
GDP Measurements and Global Markets
econintersect.com - 7/26/2015 11:58:42 PM
One (traditional) method is to value each economy based on the global FX exchanges rates. A second method involves calculating what is called PPP (Purchasing Power Parity). PPP determines the local market values of goods and services in each country.
China Is Now the World's Largest Economy Based on Purchasing Power Parity, Says the IMF
The Christian Post - 10/9/2014 7:27:01 PM
The IMF explains the purchasing power parity measure it used to estimate ... that sells in nearly identical form in many countries around the world," it continued. The new figures show China's economy with a total GDP of $17.6 trillion in 2014, just ...
Dawn - 8/3/2015 1:59:15 AM
The country has the second largest number of poor in the world after India ... 18,967bn has outpaced US’s $18,125bn, on purchasing power parity basis, yet it remains a developing country. Per capita GDP of $7,572 in 2014 was still much lower of that ...
India overtakes Japan to become third-largest economy in purchasing power parity
The Economic Times - 4/19/2012 7:06:53 AM
Data just released by the International Monetary Fund (IMF) shows that India's gross domestic product in purchasing power parity (PPP ... India's share in world GDP in terms of PPP, a measure of relative consumer prices across countries, stood at 5.65% ...
Comparing Economies of Key Countries Using Purchasing Power Parity
Seeking Alpha - 12/26/2006 2:53:19 AM
The following three charts present data about the top 15 countries in terms of the Purchasing Power Parity of their GDP in 2005 as estimated by the ... bodes well for world economic growth – short of a major global military shock which would put ...
AIIB: A Test For China-India Cooperation – Analysis
Eurasia Review - 8/4/2015 5:14:19 PM
By 2050 Asia will have eleven countries amongst the top twenty-five in the world in GDP (Purchasing Power Parity) terms.4 Asia is thirsty for infrastructure funding. The Asian Development Bank (ADB), in a 2010 report, estimated that Asia would need US$ 8 ...
China Just Overtook The US As The World's Largest Economy
The Business Insider - 10/8/2014 5:02:03 AM
China just overtook the US to become the world's largest economy, according to the International ... Basically, the method used by the IMF adjusts for purchasing power parity, explained here. The simple logic is that prices aren't the same in each country ...
Emerging markets: Redrawing the world map
Financial Times - 8/2/2015 11:57:33 PM
In some senses, emerging economies already wield power. When calculated by purchasing power parity ... China is already the world’s largest economy and yet it is still classified as emerging. The country has a literacy rate of 96 per cent, more high ...
GDP Purchasing Power Parity 2014
Pakistan Defence - 4/18/2015 11:54:25 PM
As per the report, Indian economy will reach $85.97 trillion size in terms of purchasing power parity by 2050, while the Chinese GDP would be $80.02 trillion during the same period. The US — currently the world ... size of a country will be the final ...
Minimum Wage And Purchasing Power Parity: Only Nine Countries Have A Higher Minimum Wage Than The US’ [Infographic]
International Business Times - 9/3/2013 3:26:45 PM
Australia might have the highest hourly minimum wage in the world ... buying power, or Purchasing Power Parity (PPP), that $16 is worth only about $9.77 -- which is still quite a bit higher than the U.S. hourly minimum wage of $7.25. The country with ...
China surpasses U.S. to become largest world economy
FOX News - 12/5/2014 9:54:10 PM
For the first time in decades, the U.S. is no longer the largest economy in the world ... Another measure of an economy’s strength is its “purchasing power parity” or PPP—the rate at which the currency of one country would have to be converted ...
India pips Japan to become third-largest economy in purchasing power parity
Zee News - 4/20/2012 9:36:02 AM
New Delhi: India has overtaken Japan to become the ... biggest economy after the United States and China. Purchasing power parity (PPP) is based on the model as to how much money is required to purchase the same goods and services in two countries, and ...
In a perfect world oil would be $100 and the loonie 80 cents — too bad that’s never going to happen
Financial Post - 7/27/2015 3:04:49 AM
It is central to many of the world ... deviation from purchasing power parity, a theory that states that exchange rates between two currencies are in equilibrium when their purchasing power is the same in each of the two respective countries.