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
The amount of energy needed to run the world’s economy is decreasing on average
Ars Technica - 7/13/2016 8:17:30 AM
“Energy intensity has decreased in nearly all regions of the world,” the EIA says, in developed and developing countries alike. Enlarge Enlarge / The EIA says that its gross domestic product units are calculated in purchasing power parity term
The Economist online - 7/21/2016 4:07:37 PM
It compares each country’s exchange rate with a hypothetical alternative: the rate that would equalise the price of a Big Mac around the world ... America’s economy is still far bigger than China’s. But at patty-purchasing parity, their positions ...
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
After years of the United States wearing the coveted crown China is now ranked the world's largest economy based on purchasing power parity ... According the IMF, the purchasing power parity measure is a type of cross-country comparison that looks beyond ...
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% ...
RANKED: The 25 richest countries [By GDP based on purchasing-power-parity per capita]
freerepublic.com - 3/31/2016 7:50:31 AM
Based on data from the World Bank and the International Monetary Fund, the magazine ranked the world's countries according to their gross domestic product based on purchasing-power-parity per capita ... ranking at No. 27 with a GDP per capita of $39,224 ...
The “real” value of the rand vs the dollar
businesstech.co.za - 7/26/2016 5:06:07 PM
It is based on the theory of purchasing-power parity (PPP ... even if a country’s economy is strong. According to the index, South Africa has one of the most under-valued currencies in the world by this measure. Switzerland and Norway, on the ...
What is the relationship between nominal GDP and PPP (purchasing power parity)?
Investopedia - 5/4/2015 1:19:50 PM
Purchasing power parity ... GDP cannot be reasonably compared across time; real GDP would be better. It also doesn't make sense to compare the nominal GDP of different countries. After all, populations and costs of living are not consistent around the world.
"Shock Therapy" Brought Countries Back to Life after Communism
fee.org - 7/15/2016 11:52:52 PM
Figure 1: GDP per Capita by Country Group, 1990–2013 (in 2011 U.S. Dollars Adjusted for Purchasing Power Parity) (Note: CE = Central European ... in particular the large economies of the former USSR. Figure 2: World Bank’s Rule of Law Indicator ...
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 ...
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 ...
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 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: A shirt will cost you ...
Pachees Saal Baad: India has taken off after reforms but growth remains beset by a missing middle
The Times of India Blogs - 7/24/2016 8:36:05 PM
Its per capita income has quintupled and India is now the world’s third largest economy in purchasing power parity terms. Gains in poverty reduction have been the fastest ever the country has experienced. But a lot more remains to be done if the country ...
The World's Richest Countries
Forbes - 2/22/2012 11:30:45 PM
In second place on our list is the mighty minnow Luxembourg, with a per capita GDP on a purchasing-power parity basis of just over ... To rank the world’s wealthiest countries, Forbes looked at GDP per capita adjusted for purchasing power for 182 nations.
Economy expected to fare well in 2nd half
ECNS - 7/16/2016 9:04:03 AM
"China still stands out among economies of the world," he said. "It is already the world's largest economy in PPP (purchasing power parity) terms, and it remains one of the fastest-growing and dynamic economies in the world. We believe that the potential ...
World's fastest-growing economy lags most South Asian neighbours (Special to )
New Kerala - 7/14/2016 8:23:28 AM
The world's fastest-growing economy, on course to become the world's third largest ... of Bhutan's population lives below the poverty line - counted here as purchasing power parity of $1.25 per day between 2002 and 2012 - followed by the Maldives 6.3 ...