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, 2012See also: GDP (purchasing power parity) map
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
according to recent GDP data released by the International Monetary Fund. According the IMF, the purchasing power parity measure is a type of cross-country comparison that looks beyond the nominal value of money and focuses more on what you can actually ...
China overtakes U.S. as world's largest economy, again
Atlanta Journal Constitution - 12/7/2014 12:40:36 PM
In this case, the IMF's method for calculating GDP, which relies on something called "purchasing power parity." As Investopedia explains, "PPP rates are determined by comparing the prices of identical items in different countries. ... PPP is often used ...
China surpasses U.S. to become largest world economy
FOX News - 12/5/2014 11:12:54 PM
Another measure of an economy’s strength is its “purchasing power parity” or PPP—the rate at ... and therefore that country, might have. So the IMF measures both GDP in market-exchange terms, and PPP terms. On the purchasing-power basis, China ...
U.S. Confidence in Police About Average for Wealthy Countries
Call UP - 12/17/2014 5:58:01 PM
... Polls demonstrate the extent to which residents' confidence in police is related to their country's per-capita GDP (adjusted for purchasing-power parity). Mexico, one of the poorest OECD countries, is also the one most plagued by crime and violence.
China replaces US as world’s No. 1 economy
Steel Orbis - 12/11/2014 10:41:20 AM
IMF purchasing power parity figures indicate that China will produce $17.6 trillion worth of goods and services in the current year, while the US will produce $17.4 trillion. The IMF predicts that the gap between the two countries in terms of goods and ...
China officially became the world’s largest economy, ahead of the United States
Medafrica Times - 12/11/2014 6:19:27 PM
China’s GDP will indeed reach 17.600 billion in 2014 against 17.400 billion for the United States. These data are calculated using the method known as “purchasing power parity”, which is economically significant. It measures the purchasing power of ...
China Now World’s #1 Economy
Live Trading News - 12/4/2014 10:02:30 PM
... s economy has surpassed the United States as the world’s biggest is bad news for the US/ Measuring GDP using purchasing power parity (PPP), the IMF found that China’s GDP will total $17.6-T this year, topping $17.4-T for the United States. PPP ...
Here’s what’s really scary about China overtaking America as the world’s biggest economy
Quartz - 12/4/2014 9:26:43 PM
In case you haven’t guessed which country’s taking the lead… A screenshot ... the IMF just recalculated its projection of China’s 2014 GDP using an updated revision to purchasing-power parity adjustments, which is supposed to more accurately ...
IMF Says China Surpassed U.S. As World’s Largest Economy
peoplespunditdaily.com - 12/6/2014 9:07:02 AM
Another measure of an economy’s strength is its “purchasing power parity,” otherwise known as ... is held by that particular person and that country as a whole. Thus, the IMF measures both GDP in market-exchange terms, and PPP terms.
The Most Corrupt Countries in the World
24/7 Wall ST - 12/5/2014 11:02:46 AM
National economic data came from the International Monetary Fund (IMF). GDP per capita figures are based on purchasing power parity. These are the most corrupt countries in the world.
The American Century comes to an end as China becomes the world’s largest economy
Euronews - 12/9/2014 6:43:18 PM
China’s GDP, based on the IMF’s Purchasing Power Parity figures, surpassed America’s for the first time, and despite slowing growth there still managed to add 20% to GDP in the two years since 2012. It is a growth rate no other top 10 nation can match.
China overtakes US to be world's #1 economy
American Thinker - 12/5/2014 2:08:52 PM
It's an esoteric measurement, but important because it ignores exchange rates: These calculations are based on a well-established and widely used economic measure known as purchasing-power parity (or PPP ... also be true of U.S. GDP figures.
China’s rapid growth potential not yet exhausted
The Global Times - 12/18/2014 10:11:33 AM
it may surpass the US to become the world's largest economy in 2015 in terms of purchasing power parity. At that time, most scholars didn't believe such a prediction. Yet, 20 years later, data from the World Bank and the International Monetary Fund show ...
China Economy Passes U.S. as World’s Largest
Guardian LV - 12/12/2014 7:05:24 AM
It should be noted that China’s passing of the U.S. economy is not complete, as this rating only takes into consideration what is known as Purchasing Power Parity (PPP ... States in terms of pure wealth. The GDP of China just a couple of years ...
Three countries or one continent
Longboat Rey News - 12/15/2014 1:06:54 PM
In terms of combined purchasing power parity GDP of its members, as of 2013 the trade bloc is ... They do see us differently. (Three Countries or one Continent? The Economist, October 4th 2014) “Under the North American Free-Trade Agreement (NAFTA ...