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
American Samoa GDP to be included in World Bank report
rnzi.com - 6/17/2013 10:21:23 PM
The International Comparison Program is a worldwide statistical partnership to collect comparative price data and compile detailed expenditure values of countries’ gross domestic product and estimate countries purchasing power parity. Mr Lafaele says ...
Why OECD saying India is the third largest economy means much less
articles.economictimes.indiatimes.com - 5/31/2013 5:12:16 PM
PPP, or purchasing power parity, is an imaginary concept ... and that too it is mostly whether sustained high GDP growth is occurring and will continue in the future. Third, the world takes those countries seriously that are making a sincere ...
HELPFUL HINTS FOR THE END OF THE WORLD
American Reporter - 6/17/2013 6:00:42 AM
Using a formula that measures economies in terms of real goods and services called purchasing power parity, or PPP, the most recent version of the IMF's World Economic Outlook forecast ... Unlike other countries that saw a rapid expansion in trade and ...
BJP on GDP: UPA has converted 'full glass of milk' into half
Daily News and Analysis - 6/8/2013 5:31:24 PM
... of India is the tenth-largest in the world by nominal GDP and the third-largest by purchasing power parity (PPP). The country is one of the G-20 major economies and a member of BRICS. On a per-capita-income basis, India ranked 141st by nominal GDP and ...
World Bank Expects Muted Global Growth, Led By Developing World
The World Bank Group - 6/12/2013 10:34:28 PM
Developing-country GDP is now projected to be around 5.1 percent ... and political unrest.  Using 2005 purchasing power parity weights, global growth would be 3.1, 3.8 and 4.1 percent in 2013. 2014 and 2015, respectively.
What If Asian-Americans Formed Their Own Country?
International Business Times - 6/17/2013 12:55:53 PM
Asian-Americans comprise not only the fastest-growing minority group in the U.S., but also the wealthiest, most accomplished, and educated segment of the population -- marking an extraordinary historic evolution in this country. According to a report ...
Countries with the most vacation days
Detroit Free Press - 6/8/2013 11:00:41 PM
The United States is the only developed country in the world without a single legally ... IMF figures, most for 2012, on real GDP growth, GDP per capita (adjusted for purchasing power parity), and both debt and government spending as a ...
India Population to Pass China, but GDP Another Matter
24/7 Wall St. - 6/14/2013 9:46:10 AM
For example, the population of India is expected to surpass that of China around 2028, when both countries will have populations of around 1.45 billion. Thereafter, India’s population will continue to grow for several decades to around 1.6 ...
On holiday: Countries with the most vacation days
USA Today - 6/7/2013 11:59:08 PM
(Photo: Veronica Stoddart, USA TODAY) The United States is the only developed country in the world without a single legally required paid vacation day or holiday ... rate of just 5.5% in 2012. Similarly, New Zealand's unemployment rate was just ...
World Bank Group : World Bank Expects Muted Global Growth, Led By Developing World
4-traders - 6/13/2013 5:08:11 AM
with India's annual growth having dropped below 6 percent for the first time in 10 years. Also, there is heightened speculation that the US may withdraw QE and widespread concern about its consequences. By going into these topical matters, the World Bank's ...
Creditor Insurance in Latin America
WRCB 3 Chattanooga - 6/17/2013 4:52:06 PM
Total consumer lending balances outstanding in Latin America, segmented by country, 2008 to 2012 Total consumer lending balances outstanding in Latin America, segmented by country, 2008 to 2012 (data) Residential mortgage balances outstanding in Latin ...
The future of East Asian speedsters
nst.com.my - 6/17/2013 11:25:48 PM
Admittedly, straight-line projections are never a great thing to rely on ... This does not mean that they do not try to stave off atherosclerosis by foreign direct investment, investment in technology and productivity, and even a limited amount of immigration.
Bill Gates: how GDP understates economic growth
The Guardian - 5/8/2013 10:54:30 PM
(I can speak from experience, having spent many hours poring over the multi-volume World ... using purchasing power parity, which measures the cost of the same basket of goods and services in different countries, economists can adjust GDP ...
What Big Macs and the Bronx Can Tell us About Borders
ideas.foreignpolicy.com - 6/17/2013 10:14:13 PM
A working paper by Anthony Landry of the Federal Reserve Bank of Dallas takes a new look at the Economist's famous Big Mac Index, a ranking of countries by purchasing-power parity based on the local price of a McDonald's Big Mac -- an ideal ...
Survey of the economy 2012-13
tribune.com.pk - 6/11/2013 7:29:32 PM
As a result, the country’s GDP per capita, in nominal terms (not purchasing power parity), stood at $1,368 by the end ... Pakistan has one of the lowest tax-to-GDP ratios in the world and it should be instructive in this regard to recall ...