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
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
According the IMF, the purchasing power parity measure is a type of cross-country comparison that ... form in many countries around the world," it continued. The new figures show China's economy with a total GDP of $17.6 trillion in 2014, just ahead ...
China surpasses U.S. to become largest world economy
FOX News - 12/5/2014 11:12:54 PM
Another measure of an economy’s strength is its “purchasing power parity” or PPP—the rate at which the currency of one country would have ... economy may now be the world’s largest, but it’s still not the richest. GDP per head is still less ...
China Overtakes U.S. As World's Largest Economy, Again
Denver Channel ABC News - 12/7/2014 1:06:15 AM
According to the financial world ... for calculating GDP, which relies on something called "purchasing power parity." As Investopedia explains, "PPP rates are determined by comparing the prices of identical items in different countries.
U.S. Confidence in Police About Average for Wealthy Countries
Call UP - 12/17/2014 5:58:01 PM
Gallup World Polls demonstrate the extent to which residents' confidence in police is related to their country's per-capita GDP (adjusted for purchasing-power parity). Mexico, one of the poorest OECD countries, is also the one most plagued by crime and ...
China replaces US as world’s No. 1 economy
Steel Orbis - 12/11/2014 10:41:20 AM
According to the latest International Monetary Fund (IMF) data, China has replaced the US as the world's largest ... between the two countries in terms of goods and services production will reach $1 trillion in 2015. Purchasing power parity refers to ...
China officially became the world’s largest economy, ahead of the United States
Medafrica Times - 12/11/2014 6:19:27 PM
China has come ahead the United States as the world’s largest economy. China’s GDP will indeed reach 17.600 billion in 2014 against 17.400 billion for the United States. These data are calculated using the method known as “purchasing power parity ...
China Now World’s #1 Economy
Live Trading News - 12/4/2014 10:02:30 PM
Recent data published by the International Monetary Fund (IMF) showing that China’s economy has surpassed the United States as the world’s biggest is bad news for the US/ Measuring GDP using purchasing power parity (PPP), the IMF found that China’s ...
IMF Says China Surpassed U.S. As World’s Largest Economy
peoplespunditdaily.com - 12/6/2014 9:07:02 AM
The IMF recently released the latest numbers for the world economy ... measure of an economy’s strength is its “purchasing power parity,” otherwise known as PPP, which is the rate the currency of one country would have to be converted into another ...
Here’s what’s really scary about China overtaking America as the world’s biggest economy
Quartz - 12/4/2014 9:26:43 PM
Grant was president, America is not the leading economic power on the planet,” MarketWatch darkly rasps. In case you haven’t guessed which country’s ... of China’s 2014 GDP using an updated revision to purchasing-power parity adjustments, which ...
The Most Corrupt Countries in the World
24/7 Wall ST - 12/5/2014 11:02:46 AM
National economic data came from the International Monetary Fund (IMF). GDP per capita figures are based on purchasing power parity. These are the most corrupt countries in the world.
China overtakes US to be world's #1 economy
American Thinker - 12/5/2014 2:08:52 PM
And we have lived for 200 years — since the Battle of Waterloo in 1815 — in a world dominated by two reasonably democratic, constitutional countries in Great ... used economic measure known as purchasing-power parity (or PPP), which measures the ...
The American Century comes to an end as China becomes the world’s largest economy
Euronews - 12/9/2014 6:43:18 PM
and this is also the year that America lost its over 140 year dominance as the world’s biggest economy, the title it took from Britain in 1872. China’s GDP, based on the IMF’s Purchasing Power Parity figures, surpassed America’s for the first time ...
Three countries or one continent
Longboat Rey News - 12/15/2014 1:06:54 PM
In terms of combined purchasing power parity GDP of its members, as of 2013 the trade bloc is the largest in the world as well as by nominal GDP ... They do see us differently. (Three Countries or one Continent? The Economist, October 4th 2014) “Under ...
Is China really the largest economy in the world today?
marketbusinessnews.com - 12/6/2014 10:18:37 AM
According to the International Monetary Fund, the largest economy in the world today is China ... One way to gauge a country’s economic strength is by using its PPP (purchasing power parity), which is the rate at which one country’s currency would ...
China Economy Passes U.S. as World’s Largest
Guardian LV - 12/12/2014 7:05:24 AM
It should be noted that China’s passing of the U.S. economy is not complete, as this rating only takes into consideration what is known as Purchasing Power Parity ... the country achieved a level of economic growth that made the rest of the world ...