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
India predicted to be second most powerful economy by 2050, ahead of US
yourstory.com - 3/17/2017 11:55:48 PM
accounting for 85 percent of the world GDP. The march of the elephant. The report, titled ‘The long view: how will the global economic order change by 2050?’ ranked countries by their projected global gross domestic product by purchasing power parity.
Top 10 Countries By GDP purchasing power parity
Jagran Josh - 9/22/2011 11:15:56 AM
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 ...
Top 10 city regions by GDP (and comparable countries)
brandondonnelly.com - 3/20/2017 10:47:49 PM
Below is a mapping (by Taylor Blake of the Martin Prosperity Institute) of the top 10 metro economies in the world by GDP at purchasing power parity. In brackets, is a country with a comparable GDP. Tokyo is the world’s largest metro economy with ~$1.6 ...
These Cities Out-Earn Entire Countries
Big Think - 3/16/2017 11:56:59 PM
This map compares the 2015 Gross Domestic Product in Purchasing Power Parity, expressed in billions of dollars, of the world's ten richest metro areas to that of countries with a similar GDP-PPP$. In his article, Mr. Florida points out that these ten ...
RANKED: The 30 richest countries in the world
Business Insider - 3/6/2017 8:45:25 AM
The magazine ranked the world's countries according to their gross domestic product (GDP) based on purchasing power parity (PPP) per capita. The PPP takes into account the relative cost of living and the inflation rates of the countries to compare living ...
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 ...
2017 GDP to be slightly higher than 4.2 pct, says PM Najib
Astro Awani - 3/22/2017 4:44:32 AM
Its latest assessment of Malaysia said that the country's economy continues to perform ... predicted that Malaysia would have the 25th highest GDP in the world, measured by purchasing power parity, by 2030 - and the 24th by 2050. "So top 20 is within ...
Can you guess the world's wealthiest country? Hint: It's not Brunei
Yahoo News - 3/8/2017 11:59:19 PM
Global Finance Magazine ranked the world ... to GDP per capita. And number one isn’t Brunei. Or Luxembourg. Published in February 2017, the results were computed using using IMF data for per capita GDP, and then adjusted for purchasing power parity ...
What are PPP adjustments and why do we need them?
ourworldindata.org - 3/15/2017 11:58:10 PM
Our World in Data presents the empirical evidence ... for price differentials in order to meaningfully compare GDP between countries. We need a conversion factor that achieves purchasing power parity. If we take an all-embracing basket of goods and ...
Malaysia’s economic transformation already bearing results: Najib
Today - 3/22/2017 5:34:39 AM
The government has also recently set a new goal to be a top 20 country by 2050,” he said. “PriceWaterhouseCoopers predicted Malaysia will have the 25th highest GDP in the world, measured by purchasing power parity by 2030 and the 24th by 2050.
It’s Asia’s century and the West better adapt to that
The National - 3/21/2017 5:14:22 AM
In The Long View: How Will the Global Economic Order Change by 2050, it really does begin to look like the Asian Century, with China predicted to have the world’s largest GDP by purchasing power parity ... only other European countries that make that ...
Airfares in India among 'lowest' globally: Sinha
Deccan Herald - 3/22/2017 5:59:07 PM
India has one of the lowest and “most competitive” airfares in the world despite high cost of planes ... management at all times,” he noted. In terms of purchasing power parity, India’s GDP is around $8 trillion, while it is about $18 trillion ...
Philippines projected to be 24th largest economy by 2030, 19th by 2050
update.ph - 3/15/2017 12:09:30 PM
The Philippine is expected to be the 24th largest economy in the world by 2030 and ... United Kingdom. GDP at PPP (gross domestic product at purchasing power parity) adjusts for price level differences across countries and provides a better measure of ...
What are the nations with the highest PPP (purchasing power parity) with respect to the US?
Investopedia - 3/12/2015 1:18:16 PM
It is one of the best indicators in valuing a country's economy. GDP can be calculated in market exchange terms and in purchasing power parity (PPP ... Fund (IMF), China has overtaken the U.S. as the world's largest economy based on purchasing power ...
The 20 happiest countries on the planet
Tree Hugger - 3/20/2017 3:59:47 PM
The numbers are in for the World Happiness Report ... though the U.S. has a higher GDP per capita – around $53,000 compared with $47,000 in terms of PPP [purchasing power parity] ... The explanation is that the Nordic countries far outpace the U.S ...