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
These 5 Countries Will Dominate the Global Economy in 2030
The National Interest - 6/26/2016 2:54:04 AM
China has already passed the United States in terms of Purchasing Power ... rest of the world, India is a relatively young country. It also has the tailwind of needing to build the necessary infrastructure to be a twenty-first-century economy.
EU becomes world’s third by purchasing power parity GDP after Brexit — Kudrin
tass.ru - 6/18/2016 11:56:15 PM
TASS/. The European Union is now third after China and the United States by the purchasing power parity (PPP) GDP following Brexit, Russia’s ex-Finance Minister and head of the Center for Strategic Research Alexei Kudrin said on Friday. "Brexit changes ...
Rapid industrialization is the key to what South Korea is today
BusinessMirror. - 6/20/2016 2:06:54 PM
SEOUL, South Korea—A member of the Organisation for Economic Cooperation and Development (OECD) and the Group-of-20 major economies, this country ranks today as the world’s 11th-largest economy by nominal GDP and 13th by purchasing power parity (PPP ...
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 ...
The world’s least developed countries are also the ones hosting the most refugees
Quartz - 6/20/2016 10:35:08 PM
That means the world’s current number of refugees is more ... the UN looked at the number of refugees relative to a country’s GDP based on purchasing power parity. Of the 30 countries with the largest number of refugees, 20 were what the UN classifies ...
The World's Top 10 Economies
MSN - 6/24/2016 7:45:45 PM
The difference is greater in developing countries, which tend to have a higher GDP when valued on purchasing-power-parity basis. The U.S. economy is the largest in the world in terms of nominal GDP (measured at current prices in U.S. dollars). The $17.41 ...
EU referendum: No, the UK economy isn't now smaller than France's
CITY A.M. - 6/24/2016 1:37:42 AM
Therefore, the UK economy is still the world's fifth largest ... Economists generally prefer to use purchasing power parity (PPP), which adjusts exchange rates to make comparisons between two countries based on their purchasing power.
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% ...
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 ...
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 ...
Trump Is Racist, Says Head Of Group Of The World's Richest Countries
The Huffington Post - 6/17/2016 6:28:09 PM
It is the 11th largest economy in the world based on purchasing power parity, according to the International Monetary Fund. It is also the second largest recipient of exports from the U.S., after Canada.
What is the relationship between nominal GDP and PPP (purchasing power parity)?
Investopedia - 5/4/2015 1:19:50 PM
Purchasing power parity ... GDP cannot be reasonably compared across time; real GDP would be better. It also doesn't make sense to compare the nominal GDP of different countries. After all, populations and costs of living are not consistent around the world.
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 ...
UAE's per capita GDP stays high
KhaleejTimes - 6/16/2016 2:37:18 AM
The UAE remains in the highest category for per capita GDP (gross domestic product) in purchasing power parity ... The country's oil reserves were estimated at 97.8 billion barrels in 2014, representing six per cent of the world's proved reserves and ...
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 ...