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
These are the world's most expensive countries to visit
The Business Insider - 5/9/2015 10:57:54 AM
Between flights, hotels, meals, transportation, and the barrage of tourist traps, it is hard to keep to a strict budget when traveling in a different country ... fuel prices, and purchasing power parity (PPP)*. Knowing the costs of visiting an area ...
China, India, Russia to be top 3 shareholders of AIIB: Report
Economic Times - 5/21/2015 4:20:06 PM
"Based on the AIIB members' GDP weight in the world economy, China will become the bank's ... "Whether measured by nominal GDP or the purchasing power parity-adjusted GDP, it makes sense for China to be the biggest capital contributor and the most ...
How Many People in the World Are Poorer Than You?
The Huffington Post - 5/13/2015 4:55:14 AM
Almost no one, however, earns exactly his or her country's GDP per capita and it is therefore more interesting ... incomes in each country are converted into US$ using PPP (Purchasing Power Parity) exchange rates that take into account differences in ...
China Gears Up For World War III
The Inquisitr - 5/21/2015 8:09:10 PM
The United States and other countries ... power. Last year, China passed the United States as the world’s largest economy by at least one measurement, according to RT News. China has a larger Gross Domestic Product measured by purchasing power parity ...
South Korea outbound tourism forecast to total US$35.7Bn by 2019
Live-PR - 5/19/2015 8:08:33 AM
... nations with a world ranking of thirteenth for nominal GDP and by purchasing power parity. With GDP per capita expanding rapidly at 9% CAGR during the last six years, the country is set to become a major outbound tourism market. Reflecting this rising ...
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 ... India's share in world GDP in terms of PPP, a measure of relative consumer prices across countries, stood at 5.65% in ...
China, India, Russia to be top 3 stake holders of AIIB
Deccan Herald - 5/21/2015 5:10:13 PM
“Based on the AIIB members’ GDP weight in the world economy, China will become the bank ... "Whether measured by nominal GDP or the purchasing power parity-adjusted GDP, it makes sense for China to be the biggest capital contributor and the most ...
CEIBS Prof. disappointed in Ghana’s economic dev’t
Ghana Web - 5/23/2015 5:19:10 AM
South Korea's market economy ranks 13th in the world by both nominal and purchasing power parity GDP, identifying it as one of the G-20 major economies. It is a developed country with a high-income economy and is the most industrialised member-country of ...
Agreement on AOA milestone for establishing of AIIB
Xinhua News Agency - 5/22/2015 3:50:17 PM
As for countries outside the region, GDP is ... percent while purchasing power parity (PPP) weighs about 40 percent. Chen Kang, professor of Lee Kuan Yew School of Public Policy, National University of Singapore, who also worked at the World Bank's ...
The most expensive countries to visit
travel.iafrica.com - 5/12/2015 9:57:04 AM
Wondering which countries are the least affordable to visit? Well, we've compiled a list of the world's most expensive countries ... airport charges, hotel prices, purchasing power parity and fuel price levels.
Nepal moves up 10 spots to 102nd position
Ekantipur - 5/17/2015 2:13:01 AM
KATHMANDU, MAY 17 - Nepal moved up ten spots to the 102nd position in terms of travel and tourism competitiveness, largely due to the purchasing power parity of tourists ... jobs and its contribution to the country’s GDP stood $738 million annually ...
A guide to African currencies: the Milk Index
Financial Times - 5/22/2015 6:34:55 PM
In 1986 The Economist magazine famously created its Big Mac Index, a guide to the fair value of a currency based on the principle of purchasing-power parity, which states ... a similar mechanism applicable to countries in Africa, we have created our ...
7 Reasons Your Business Should Care About The Brazilian Market
Fast Company - 5/15/2015 9:10:34 AM
It’s currently ranked eighth worldwide in terms of GDP—purchasing power parity—with $3.073 trillion, beating all other South American countries. Despite these uncertainties, economists still maintain a positive long-term outlook for the country ...
Egypt Among Most Stressful Countries To Live In
cairoscene.com - 5/15/2015 6:54:33 AM
But how do you measure how stressful a country is? Bloomberg has the answer and it goes a little something like murder rates, purchasing power parity, low income, inequality, corruption, unemployment, air pollution and early deaths (“life expectancy”).
“Win-Lose” is “Lose-Lose” in the 21st Century
rinf.com - 5/19/2015 2:49:25 PM
If we don’t write the rules for trade around the world ... includes China, a country of 1.3 billion people? The U.S. can no longer assert that privilege based on its economic power since its gross GDP, measured in Purchasing Power Parity is now ...