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 may be in the grips of a slowdown, its polity paralysed and markets morose, but all this hasn't prevented India from overtaking Japan to become the world's third-largest economy in purchasing power terms. Data just ...
China Overtakes U.S. as Biggest Economy When Measured by Purchasing Power
Bloomberg - 1/13/2011 11:52:56 PM
So-called purchasing power parity calculates gross domestic product using exchange ... Prior Estimates Subramanian said his calculations are based on new estimates of GDP that will soon be published by the Penn World Tables, which correct ...
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 ...
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 ... to purchase the same goods and services in two countries, and uses that to calculate an implicit foreign ...
World's 10 biggest economies, India at No 3
Rediff - 8/13/2013 7:01:57 AM
According to the International Monetary ... education level, and one of the world's longest life expectancies in this wealthiest nation in Europe. It ranks world's 4th in the Fortune Global 500 ahead of Germany and the UK. France is also world's sixth ...
‘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 economy in 2011 ... India would have overtaken Japan in around 2013-14," said Sinha. The purchasing power parity (PPP) method measures the size of an economy by levelling price differences ...
How Can You Compare GDP Between Countries?
About - News & Issues (blog) - 12/12/2007 11:59:15 PM
Purchasing power parity (PPP) allows you to compare the GDP between countries. It does this by taking into account the exchange rates between the two countries. For example, since China holds the exchange rate of its currency, the yuan ...
'India is third largest economy in purchasing power parity terms': Mukherjee
Yahoo! India News - 4/6/2013 10:53:41 AM
Today India is the third largest economy in the world in purchasing power parity terms," he added ... Rule of Law and Control of Corruption are lower than countries such as Brazil, France, Germany, Italy, Japan, UK and US," said President Mukherjee.
Why India will be world's No. 1 economy by 2050
Rediff - 2/24/2011 2:46:13 AM
... world's second-largest economy by nominal GDP and the third largest in purchasing power parity. It is also the world's fourth largest exporter and sixth largest importer. It is also the only Asian country in the G-8. With GDP (PPP) of $4.356 trillion ...
The 5 Fastest-Growing Countries in the World
The Motley Fool - 12/7/2013 1:48:24 PM
The recession took a sledgehammer to global economic growth, particularly in advanced economies such as Europe, Japan, and the United States. It's been a tough road back for many of these leading nations -- and for some, like Europe's hardest ...