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 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 ...
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 ...
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.
Good, bad, risky: Global economic outlook remains problematic
Rediff India Abroad - 7/28/2016 2:54:54 PM
The worrying signal, though, is that the growth rate for these countries has dropped ... But this is when growth is measured using purchasing power parity, which gives emerging markets a greater share of the world economy; global growth as measured by ...
"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 ...
Rise of China boosts emerging economies' share of world's top earners
ECNS - 7/28/2016 8:42:40 AM
A new study of the world's top-earning 1 percent ... 1 percent of global earners in 2012. Using purchasing power parity exchange rates－which take into account different purchasing powers in different countries－in China this translated to 185,594 ...
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 ...
Why India is the most promising of all emerging markets
Globe and Mail - 7/27/2016 11:10:00 PM
This is a major reason why equity markets of developed countries attract more capital than emerging ... and now represent more than half of world GDP (at purchasing power parity). The emerging world is vastly underrepresented by capital markets though ...
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.
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
World Bank: India Overtakes Japan as World's Third Largest Economy
The Diplomat - 4/30/2014 6:57:14 PM
the World Bank announced in a report on Tuesday that India overtook Japan as the world’s third largest economy in terms of purchasing power parity (PPP). According to the World Bank’s International Comparison Program (ICP) data, India holds a 6.4 ...
China surpasses U.S. to become largest world economy
FOX News - 12/5/2014 9:54:10 PM
The IMF recently released the latest numbers for the world economy, stating that China ... measure of an economy’s strength is its “purchasing power parity” or PPP—the rate at which the currency of one country would have to be converted into ...