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
Dawn - 8/31/2015 1:40:21 AM
Nepal is among the poorest and least developed countries in the world and the second poorest in Asia, with a GDP per capita of $2,381 on purchasing power parity basis or $698 at current prices as reported by the World Bank. Its poverty levels have fallen ...
Top 10 Countries By GDP purchasing power parity
Jagran Josh - 9/22/2011 11:58:53 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 ...
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
The IMF explains the purchasing power parity measure it used to estimate ... that sells in nearly identical 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 ...
Is East Timor Now a Rich Country?
The Diplomat - 8/21/2015 11:56:30 PM
It cited a report of the Global Finance magazine which ranked Timor-Leste’s GDP per capita on a purchasing power parity basis as the 87th highest in the world. The global survey involved 184 countries. In Southeast Asia, Timor-Leste ranked fifth behind ...
Breaking Down World Growth
Economy Watch - 8/21/2015 1:05:06 PM
It is measuring world growth based on 48 countries that account for 86% of the world's GDP. It also weighted the GDP at purchasing power parity, rather than nominal currency levels. The key point that The Economist brings to our attention is that world ...
Countries with the highest GDP (purchasing power parity)
Mongabay - 1/24/2010 11:57:35 PM
A nation's GDP at purchasing power parity (PPP) exchange rates is the sum ... 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 ...
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, according to the International ... Basically, 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 ...
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% ...
Comparing Economies of Key Countries Using Purchasing Power Parity
Seeking Alpha - 12/26/2006 2:53:19 AM
The following three charts present data about the top 15 countries in terms of the Purchasing Power Parity of their GDP in 2005 as estimated by the ... bodes well for world economic growth – short of a major global military shock which would put ...
How the BRICs Came Down to Earth
Human Events Blog - 9/1/2015 1:03:23 AM
And if you adjust for Purchasing Power Parity, together the BRICs already account for 52% of the planet’s GDP. In 2010, Standard Chartered Bank predicted China would overtake the United States to become the world ... station with a country attached.”
GDP Purchasing Power Parity 2014
Pakistan Defence - 4/18/2015 11:54:25 PM
As per the report, Indian economy will reach $85.97 trillion size in terms of purchasing power parity by 2050, while the Chinese GDP would be $80.02 trillion during the same period. The US — currently the world ... size of a country will be the final ...
15 Highest Paying Countries for Nurses
INSIDER MONKEY - 8/26/2015 5:13:53 AM
Since the majority of nurses is employed by governments, they have taken a significant pay cuts in the last few years, as countries around the world combat debt crisis ... we used what is commonly known purchasing power parity. This is a method that ...
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 ...
China's woes and a still flawed global economy
BBC - 8/27/2015 2:42:22 AM
Because if share price gains could not hold after the significant monetary easing by China's central bank, then mistrust about the true state of the world's second largest economy (actually the number-one economy on the purchasing-power-parity measure of ...
China surpasses U.S. to become largest world economy
FOX News - 12/6/2014 5:03:40 AM
The IMF recently released the latest numbers for the world economy, stating that China ... measure of an economy’s strength is its “purchasing power parity” or PPP—the rate at which the currency of one country would have to be converted into ...