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
IMF: China Surpasses US, now World’s Largest Economy
amtvmedia.com - 10/18/2016 3:19:20 PM
China just overtook the US to become the world’s largest economy ... 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 less in ...
20 Richest Cities in the World by 2016 GDP Per Capita
INSIDER MONKEY - 10/18/2016 9:07:06 AM
There aren’t that many surprises on 20 richest cities in the world by ... up using the GDP per capita, PPP or gross domestic product per capita converted to international dollars. In other words, we have used purchasing power parity rates to determine ...
Top 10 Countries By GDP purchasing power parity
Jagran Josh - 9/22/2011 11:15:56 AM
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 ... many countries do not formally participate in the World Bank's PPP project ...
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 World Economy Without China
PROJECT SYNDICATE - 10/25/2016 3:08:03 AM
... the official arbiter of global economic metrics – the Chinese economy accounts for 17.3% of world GDP (measured on a purchasing-power-parity basis). A 6.7% increase in Chinese real GDP thus translates into about 1.2 percentage points of world growth.
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 ...
How does purchasing power parity affect the GDP of a country?
www.quora.com - 2/6/2015 11:59:53 PM
Purchasing power parity, or PPP, does not change the GDP of ... The Penn World Trade is a widely cited source of PPP adjustments, and the so-called Penn Effect reflects such a systematic bias in using exchange rates to outputs among countries.
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.
Is Africa’s entire GDP equal to that of France? Obama is mostly correct
africacheck.org - 10/17/2016 9:29:46 AM
In 2015, the combined GDP of African countries was US$2.24 trillion according to the World Bank, but data for 7 countries ... concluded that there is no alternative to purchasing power parity data for comparing economies or to measure poverty at the ...
ST. KITTS AND NEVIS GDP BASED ON PURCHASING POWER PARITY (PPP) VALUATION OF COUNTRY GDP
tradingeconomics.com - 9/26/2016 3:38:16 PM
IN 2015, ST. KITTS AND NEVIS'S GDP BASED ON PURCHASING POWER PARITY (PPP) VALUATION OF COUNTRY GDP IS EXPECTED TO BE 0.86 BILLIONS U.S. DOLLARS. IN 2009, ST. KITTS AND NEVIS'S ECONOMY SHARE OF WORLD TOTAL GDP, ADJUSTED BY PURCHASING POWER PARITY ...
China `overtakes U.S. as the the world`s largest economy`
Lanka Newspapers - 10/21/2016 4:38:41 AM
China has toppled America to become the biggest economy in the world, according to ... The numbers are based on `purchasing power parity` (PPP) which makes adjustments for the fact that goods are cheaper in countries such as China relative to the US.
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 ...
Top 5 Richest Countries in the World
yphone24.com - 10/24/2016 2:04:49 AM
Some of these rich countries in the top 5 will suprise you but they all earned their spots because they are simply the richest in the world today This list is based on Gross Domestic Product Based on Purchasing-Power-Parity Per Capita. 5. Brunei Darussalam ...
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 ...
Countries with the largest gross domestic product at purchasing power parity 2016
www.statista.com - 10/20/2016 8:43:15 AM
Quarterly growth of gross domestic product (GDP) in France 2nd ... of GDP in France 2005-2015 ifo World Economic Climate Index 3rd quarter 2016 ifo World Economic Climate Index 3rd quarter 2016 National debt in EU countries in relation to gross domestic ...