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
Global growth could accelerate, but China’s fortunes hold the key
Daily Telegraph - 5/17/2013 5:00:14 PM
Also, as long as China’s consumption continues to perform well, that is what really matters to anyone wanting to export more to them. So what about the recent evidence from our own and other so-called developed economies? Our stock markets ...
World stocks mixed ahead of release of leading US economic indicators for April
Washington Post - 5/17/2013 9:07:47 AM
BANGKOK — World stock markets were mixed Friday as investors digested a slew of disappointing data from the U.S. ahead of the release of a key measurement of the country’s economic outlook. Investors were looking ahead to the Conference ...
Global Solar Photovoltaic Power Market Share, Size, Trends, Analysis And Forecast to 2020 - Market Leaders to Achieve Grid Parity due to Decreasing Module Prices
Benzinga - 5/18/2013 1:28:28 AM
GBI Research, a leading business intelligence provider, has released its latest research, “Solar Photovoltaic Power Market to 2020 Market Leaders to Achieve Grid Parity due to Decreasing Module Prices, Low Maintenance and Ease of Installation”.
Problems with figuring poor countries’ GDP cloud judgments about which policies work
Japan Times - 5/11/2013 3:05:39 PM
By using purchasing power parity, which measures the cost of the same basket of goods and services in different countries, economists can adjust GDP to gain better insight into living standards. Yet it is clear to me that we need to devote ...
The problem with poor countries’ GDP
Today Online - 5/16/2013 8:07:32 PM
The answer depends, in part, on how we measure growth and improvements in people’s lives. Traditionally ... The challenges of calculating GDP are particularly acute in Sub-Saharan Africa, owing to weak national statistics offices and historical biases ...
Japan GDP trumps expectations under Abenomics
CNN Money - 5/16/2013 3:03:54 AM
Japan's economy kicked into high gear during the first quarter as policymakers worked to combat decades of falling prices and spur growth. Japan's economy grew at an annual rate of 3.5% in the first three months of 2013, Japan's Cabinet Office ...
Eurozone Economy Faces Risk Of Further Contraction In Q2: IHS Global Insight
RTT News - 5/16/2013 6:02:51 AM
The economist noted that restrictive fiscal policy in many countries ... continue to hamper economic activity in the currency bloc. However, the economy is poised to get some relief from the recent lift to consumers' purchasing power coming from the ...
Bill Gates: how GDP understates economic growth
The Guardian - 5/8/2013 10:54:30 PM
Traditionally, one of the guiding factors has been per capita GDP – the value of goods and services produced by a country in a year divided by the country's population. Yet GDP may be an inaccurate indicator in the poorest countries ...
Would a New 'Bretton Woods' Save the Global Economy?
pbs.org - 5/14/2013 11:58:58 PM
What would the post-war world economy look like ... it's "a must-read work of economic and diplomatic history" and The New York Times wrote that "it should become the gold standard on its topic." Critics like history professor Eric Rauchway, by contrast ...
Weak European GDP data drives stocks down
Yahoo! News - 5/15/2013 10:14:35 AM
PARIS (AP) — Weak economic data across the eurozone ... by restrictive fiscal policy in many countries, still tight credit conditions, high and rising unemployment, and limited consumer purchasing power despite general very low inflation," said Howard ...
Rwanda: The Problem With Poor Countries' GDP
AllAfrica - 5/7/2013 10:24:04 AM
And, by using purchasing power parity, which measures the cost of the same basket of goods and services in different countries, economists can adjust GDP to gain better insight into living standards. Bill Gates is Co-Chair of the Bill & Melinda Gates ...
Ethiopia: A World Without GDP Is No Better
AllAfrica - 5/14/2013 10:01:27 AM
And, by using purchasing power parity, which measures the cost of the same basket of goods and services in different countries, economists can adjust GDP to gain better insight into living standards. Yet, it is clear to me that we need to devote greater ...
Global Government Debt Is Already 80% Of Global GDP
ETF Daily News - 5/17/2013 6:11:49 PM
Gold Silver Worlds: In his latest commentary, Michael Pento writes ”there is a reason why the Fed and other central banks have been unable to achieve a healthy and viable economy even after five years of trying to manufacture one from a ...
Power likely to get parity with fertiliser for gas allocation
Hindustan Times - 5/12/2013 4:08:54 PM
This is expected to release increased gas supplies for power production in the country. The move will also reduce costly LNG imports currently being undertaken by the power sector at $14 per mmbtu (million metric British thermal units ...
Ten Countries Where People Fear for Their Safety
24/7 Wall St. - 5/14/2013 10:22:56 AM
24/7 Wall St. reviewed the 10 countries where people do not feel safe walking alone at night. The International Monetary Fund (IMF) provided GDP per capita figures, and they are stated on a purchasing power parity basis. Where data was not ...