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, 2012
See also: GDP (purchasing power parity) mapRelated News
China’s Economy to Surpass that of US by 2016: IMF
China Digital Times - 5/19/2013 11:53:02 PM
America overtook Great Britain as the world’s leading economic power in the 1890s and never looked back. And both those countries live under very similar rules of constitutional government, respect for civil liberties and the rights of property.
The 5 Richest Countries in the World
Daily Finance - 5/19/2013 11:50:03 AM
Is there a trend among the richest countries on the planet ... here are the richest five nations among the world's 50 largest economies, sorted by GDP per capita and adjusted for purchasing-power parity. While at least one expected name makes the list ...
'India is third largest economy in purchasing power parity terms': Mukherjee
Newstrack India - 4/6/2013 10:32:12 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 Mukherjee said ...
10 Countries Where People Fear For Their Safety: 24/7 Wall St.
The Huffington Post - 5/19/2013 9:29:52 PM
Based on data provided by Gallup, 24/7 Wall St. reviewed the 10 countries where people do not feel safe walking alone at night. The International Monetary Fund (IMF) provided GDP per capita figures, and they are stated on a purchasing power ...
JIM O'NEILL: I've Found Myself Asking 2 Questions About The Economy I Didn't Expect To
I4U NEWS - 5/22/2013 7:10:19 PM
That time period, which coincidentally spans my professional career, has seen the global economy increase by approximately 3.4pc per annum in purchasing power parity terms. For the last few years, a central t ... DARWIN, Australia, May 22 (Xinhua ...
Appendix
pewglobal.org - 5/23/2013 6:54:48 PM
The table includes for each country the World Bank income classification, the GDP in current prices, and the GDP per capita based on purchasing power parity (PPP).
Qatar, the world's richest country: Forbes
MENAFN - 5/14/2013 11:58:58 PM
(MENAFN) Forbes magazine named Qatar the world's wealthiest country in its latest list ... In second place on its list was Luxembourg, with a per capita GDP on a purchasing-power parity basis of just over USD81,000. In third place was Singapore with ...
4 Countries Where U.S. Dollars Go the Farthest
The Motley Fool - 5/19/2013 12:40:10 PM
Many travelers are familiar with currency exchange rates and how that translates from dollar to yen, euro, or peso. But there's another metric that puts the relative strength of the dollar in perspective: purchasing-power parity. In the ...
Ethiopia: A World Without GDP Is No Better
AllAfrica - 5/14/2013 10:01:27 AM
In addition, there are several ways to calculate GDP, and they can produce wildly different results. Jerven mentions three: the World ... purchasing power parity, which measures the cost of the same basket of goods and services in different countries ...
WILL CHINA OVERTAKE THE U.S. AS THE TOP WORLD POWER? NOT YET
American Reporter - 5/23/2013 4:57:17 AM
Then there are the other set of choices that our nation's leaders have made regarding international policy ... is a graduate of the John F. Kennedy School of Government at Harvard University. Reach him at randyholhut@yahoo.com.
The problem with poor countries’ GDP
Today Online - 5/16/2013 8:07:32 PM
(I can speak from experience, having spent many hours poring over the multi-volume World ... by using purchasing power parity, which measures the cost of the same basket of goods and services in different countries, economists can adjust GDP to gain ...
China projected to overtake US as the largest economy by 2017
MENAFN - 5/17/2013 11:55:25 PM
China is projected to overtake the US as the largest economy by 2017 in purchasing power parity (PPP) terms and by 2027 in market exchange rate terms. India should become the third 'global economic giant' by 2050, a long way ahead of Brazil, which is ...
Goa Cabinet gives nod to continue power purchase from Reliance Infra
Economic Times - 5/22/2013 2:59:46 PM
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Problems with figuring poor countries’ GDP cloud judgments about which policies work
Japan Times - 5/11/2013 2:58:30 PM
In addition, there are several ways to calculate GDP, and they can produce wildly different results. Jerven mentions three: the World ... purchasing power parity, which measures the cost of the same basket of goods and services in different countries ...
UAE economy doing fine
Gulf News - 5/18/2013 8:45:08 AM
The UAE economy is experiencing a golden period, an assertion supported by plenty of evidence. To begin with, the country’s gross domestic ... over the UAE of GDP on the basis of purchasing power parity reflecting local conditions. Furthermore, a newly ...
