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
De-jargoned: Purchasing Power Parity
Live Mint - 10/19/2014 4:01:53 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 ...
China ahead of US in purchasing power parity: IMF
Dawn - 10/13/2014 1:35:41 AM
According to the IMF, China now amounts for 16.48pc of the world’s purchasing-power-adjusted GDP. At 16.28pc, the United States is slightly less than China. The IMF used the PPP (GDP based on purchasing power parity) method to calculate the size of the ...
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
According the IMF, the purchasing power parity measure is a type of cross-country comparison that ... form in many countries around the world," it continued. The new figures show China's economy with a total GDP of $17.6 trillion in 2014, just ahead ...
Purchasing Power Parity setting the price of your app based on local economies
blogs.msdn.com - 10/16/2014 7:30:03 AM
That's where Purchasing Power Parity (PPP ... to Crack IAPs in the Developing World The author Gurinder Pal Singh raise the issue that of the impact of currency conversion and the cost of living within different countries and cultures.
The 5 Richest Countries in the World
The Motley Fool - 10/11/2014 10:34:56 AM
But just who is making out the best in the post-recession world? Let's take a look at the globe's five richest countries -- as ranked by the International Monetary Fund's 2014 estimates for GDP per capita, adjusted for purchasing power parity -- and see ...
China Overtakes US as World's Largest Economy in Purchasing Power
International Business Times - 10/9/2014 12:39:00 PM
China has finally surpassed the United States to become the world's largest economy, according to International Monetary Fund figures, which are based on GDP measured according to Purchasing Power Parity (PPP). With $17.6 trillion, China has surpassed the ...
IMF Says China World's Largest Economy, Sort Of
Breitbart News - 10/9/2014 11:59:02 PM
equals Purchasing Power Parity for China of $15.1 trillion. For about 2000 years until approximately 1750 AD, China had the largest population and the largest GDP in the world. China kept the banner as the most populous country, but lost in GDP to Britain ...
India, 20 others set up Asian Infra bank
Times of India - 10/24/2014 6:54:54 PM
BEIJING: India along with 20 other countries on Friday signed an agreement to ... over fixing the bench marks which were expected to be combination of GDP and Purchasing Power Parity (PPP). Based on this formula, India will be second largest share holder ...
ASEAN integration and the stakeholders (Last of two parts)
News Philippines Yahoo - 10/25/2014 5:06:21 PM
with a nominal Gross Domestic Product or total economic output of $2.32 trillion (3.3 percent of the world’s total GDP), total exports of $1.2 trillion (7% of the global total), and total GDP in purchasing power parity (PPP) of $3.6 trillion”...
U.S. Earns Good Grades On Globabl Economic Report Card
Forbes - 10/20/2014 4:22:10 PM
For 10 years now the World Economic Forum (WEF) has published its annual competitiveness report, which assesses the strength of 144 countries ... GDP stands at around $16.8 trillion whereas China’s is $9.3 trillion. Based on purchasing power parity ...
China is Coming Out on Top in the Global Economy
Economy Watch - 10/14/2014 11:53:06 PM
The numbers that define China as the leading economy in the world have been calculated using 'purchasing power parity', which allows for adjustments considering that some goods are cheaper in certain countries ... purchasing power. GDP reaches about ...
The truth behind Uzbekistan's 8% GDP growth
uznews.net - 10/24/2014 5:21:51 PM
If a country experiences an annual increase in GDP of 8%, every citizen should be able to observe an increase in production, more available jobs, and their own purchasing power strengthened ... by leaps and bounds. World Bank’s numbers seem to confirm ...
India, 20 others set up Asian Infrastructure Investment Bank
India TV - 10/24/2014 10:05:12 AM
New Delhi: India along with 20 other countries on Friday signed an agreement to ... over fixing the bench marks which were expected to be combination of GDP and Purchasing Power Parity (PPP). Based on this formula, India will be second largest share ...
IMF Forecasts China To Dethrone US As World’s Biggest Economy With $17.6T GDP
International Business Times - 10/10/2014 5:21:09 AM
In April, the World Bank pointed out at by the end of 2014, China's GDP purchasing power parity terms would exceed that of the ... China's growth during the crisis enable a number of other countries, particularly commodity-exporting economies, to ride ...
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 ... 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 less in Shanghai ...