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 World’s Economy Soared Last Year (or Plunged)
New York Times - 2/8/2016 1:02:44 PM
That’s largely because of the dollar’s rise, which makes the output of countries ... involving purchasing power parity or P.P.P., which adjusts for the relative value of currencies and their purchasing power. The I.M.F. has said world output grew ...
Top 10 Countries By GDP purchasing power parity
Jagran Josh - 9/21/2011 11:55:54 PM
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 ...
World Bank Punches South Africa’s Poor, by Ignoring the Rich
Counter Punch - 2/12/2016 11:03:27 AM
“South Africa can claim to have one of the world ... than other countries on its social programs, with this expenditure successfully lifting around 3.6 million individuals out of poverty (based on US$2.5 a day on a purchasing power parity basis ...
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 ...
The World Bank Goes Silent on South Africa
Economy Watch - 2/11/2016 7:47:11 PM
South Africa spent more than other countries ... US$2.5 a day on a purchasing power parity basis) and reducing the Gini coefficient from 0.76 to 0.596 in 2011. This is worth unpacking. 1) “Spent more than other countries”? Of the world’s 40 largest ...
India overtakes Japan to become third-largest economy in purchasing power parity
The Economic Times - 4/19/2012 7:06:53 AM
Data just released by the International Monetary Fund (IMF) shows that India's gross domestic product in purchasing power parity (PPP ... India's share in world GDP in terms of PPP, a measure of relative consumer prices across countries, stood at 5.65% ...
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 ...
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 ...
2016 global economy in perspective, by Obstfeld
The Guardian - Nigeria - 2/8/2016 2:11:19 AM
The global economy ... purchasing power parity, or PPP, terms) and some 43 percent of global GDP growth (with PPP weights). For 2010-2015, the numbers were 56 percent and 79 percent, respectively. So a predominantly advanced-economy lens for viewing the ...
Comparing Economies of Key Countries Using Purchasing Power Parity
Seeking Alpha - 12/26/2006 2:53:19 AM
It is useful to have a ready yardstick for comparing ... countries in terms of the Purchasing Power Parity of their GDP in 2005 as estimated by the United States Central Intelligence Agency. Purchasing Power Parity [PPP] essentially adjusts the size of ...
GDP Purchasing Power Parity 2014
Pakistan Defence - 4/18/2015 11:54:25 PM
Any measurement that has a backward country with little to ... Indian nominal GDP are grossly overstated. PPP figures are overstated by at least 60-70%. India wouldn't even be in the top 20 world economies if GDP was calculated properly.
World's 10 biggest economies, India at No 3
Rediff India Abroad - 8/13/2013 12:31:14 PM
Photographs: Carlos Barria/Reuters Germany has sixth-largest economy by purchasing power parity. Besides being ... and commodities markets countries. Click NEXT to read more... A developed country, France has the world's fifth-largest and Europe's second ...
De-jargoned: Purchasing Power Parity
Live Mint - 10/19/2014 2:43:08 PM
India’s equivalent of the McDonald’s Big Mac burger is one of the world ... to purchasing power comparisons across countries, but there are other more relevant calculations that economists rely on. PPP-adjusted gross domestic product (GDP) data ...
20 Richest Countries in the World by GDP Per Capita
INSIDER MONKEY - 7/14/2015 5:00:27 AM
World economics ... the top 20 richest countries in the world by GDP per capita. Known for its sophisticated tastes in arts and fashion and insane baking skills, France also happens to be the EU’s second largest economy by purchasing power parity.
China to Surpass United States as World's Largest Economy: World Bank International Comparison Program Report Uses Purchasing Power Parity
The Latin Post - 5/4/2014 2:24:39 AM
The World ... China's economy has contributed roughly a quarter of it. (The International Monetary Fund predicted that the economy of China accounts for 24 percent of economic growth during the 2011-2014 period.) Purchasing power parity is used to get ...