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
India overtakes Japan to become third-largest economy in purchasing power parity
articles.economictimes.indiatimes.com - 4/18/2012 11:57:23 PM
NEW DELHI: Its economy ... to become the world's third-largest economy in purchasing power terms. Data just released by the International Monetary Fund (IMF) shows that India's gross domestic product in purchasing power parity (PPP) terms ...
Top 10 Countries By GDP purchasing power parity
jagranjosh.com - 11/30/2012 11:54:13 PM
A nation's GDP at purchasing power parity (PPP) exchange rates is the sum ... 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 ...
China Overtakes U.S. as Biggest Economy When Measured by Purchasing Power
Bloomberg - 1/13/2011 11:52:56 PM
China overtook the U.S. last year as the world ... for the countries’ differing costs of living, Subramanian wrote in a note published yesterday, a week before President Hu Jintao visits Washington. So-called purchasing power parity calculates ...
Comparing Economies of Key Countries Using Purchasing Power Parity
Seeking Alpha - 12/25/2006 11:54:22 PM
Purchasing Power Parity [PPP] essentially adjusts the size of economies ... taken in combination with the rapid growth rates of the GDPs of the BRIC countries, bodes well for world economic growth – short of a major global military shock which would ...
India pips Japan to become third-largest economy in purchasing power parity
Zee News Limited - 4/19/2012 11:56:12 PM
New Delhi: India has overtaken Japan to become the world's third-largest economy in purchasing power parity, a newspaper reported on Thursday. With this, India has become the third-biggest economy after the United States and China. Purchasing power parity ...
World's 10 biggest economies, India at No 3
Rediff - 8/13/2013 7:01:57 AM
it is also the world's fourth-largest exporter and fourth-largest importer of goods. It has some of the largest and technologically advanced producers of motor vehicles and electronics goods, besides machine tools, steel and nonferrous metals, ships ...
‘India is third largest economy in purchasing power parity terms’: Mukherjee
TruthDive - 4/6/2013 10:53:41 AM
‘the Green Revolution in the 1960s made our country self-sufficient in food grains’. “We have also reduced the incidence of poverty. Today India is the third largest economy in the world in purchasing power parity terms,” he added. President ...
India to topple Japan as world's 3rd-largest economy
articles.economictimes.indiatimes.com - 9/20/2011 9:16:37 AM
NEW DELHI: India might become the world's third largest ... in around 2013-14," said Sinha. The purchasing power parity (PPP) method measures the size of an economy by levelling price differences between countries that occur in the process ...
How Can You Compare GDP Between Countries?
About - News & Issues (blog) - 12/12/2007 11:59:15 PM
... an explanation of comparison between GDP related to PPP (purchasing power parity) and GDP related to OER (official exchange rate). Which one is the most accurate measure of a country's GDP? Purchasing power parity (PPP) allows you to ...
Why India will be world's No. 1 economy by 2050
Rediff - 2/24/2011 2:46:13 AM
For India to meet that challenge, a number of major changes will have to occur in a relatively short period of time. First, India's infrastructure ... Thus, demographics are a factor that should be working in Indonesia's favour to achieve China-like ...
WisdomTree: Emerging Currencies — Is Purchasing Power Parity Broken?
etftrends.com - 8/21/2013 3:49:20 PM
the basic notion of purchasing power parity (PPP) states that if currencies are in equilibrium (or fairly priced), then converting one currency into another should buy the equivalent amount of goods in another country. Taking a real world example ...
The World's Richest Countries
Forbes - 2/22/2012 11:30:45 PM
If wealth is power, then Qataris have some serious muscle to flex. The Persian Gulf emirate of 1.7 million people ranks as the world’s richest country per capita thanks to a rebound in oil prices and its massive natural gas reserves.