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
The 5 Richest Countries in the World
The Motley Fool - 5/19/2013 4:29:14 PM
While at least one expected name makes the list, a few may surprise you ... The nation's still in the middle of developing, with tourism playing an important role in the country's economic growth. Foreign investment has also supercharged ...
10 Countries Where People Fear For Their Safety: 24/7 Wall St.
The Huffington Post - 5/19/2013 9:29:52 PM
Last year, more than two-thirds of all people surveyed said they felt safe walking alone at night, according to a Gallup poll conducted in 134 countries. But in 31 countries, less than half the population felt this way. In Venezuela and South ...
UAE economy doing fine
Gulf News - 5/18/2013 8:45:08 AM
To begin with, the country’s gross domestic product (GDP ... However, Egypt has advantage over the UAE of GDP on the basis of purchasing power parity reflecting local conditions. Furthermore, a newly-released report by the Washington-based Institute ...
Goa Cabinet gives nod to continue power purchase from Reliance Infra
Economic Times - 5/22/2013 2:59:46 PM
“I’m drawn to cinema because I have absolute faith in its transformative power, in its ability to raise human awareness,” says Nandana Sen. PANAJI: Goa cabinet today decided to continue with the purchase of power from Reliance ...
Global Power Generation Market 2012-2016
Marketwatch - 5/20/2013 2:47:50 PM
The Global Power Generation market has also been witnessing the increased economic growth in ... Key Leading Countries China Japan US 08.1 Country Segmentation 09. Vendor Landscape 10. Buying Criteria 11. Market Growth Drivers 12.
JIM O'NEILL: I've Found Myself Asking 2 Questions About The Economy I Didn't Expect To
I4U NEWS - 5/22/2013 7:10:19 PM
That time period, which coincidentally spans my professional career, has seen the global economy increase by approximately 3.4pc per annum in purchasing power parity terms. For the last few years, a central t ... DARWIN, Australia, May 22 (Xinhua ...
WILL CHINA OVERTAKE THE U.S. AS THE TOP WORLD POWER? NOT YET
American Reporter - 5/22/2013 3:03:57 AM
The United States, by comparison, will increase from $15.2 trillion to $18.8 ... When you consider that just a decade ago the U.S. economy was three times the size of China's, these figures are amazing. But is this, as some pundits have been saying ...
4 Countries Where U.S. Dollars Go the Farthest
Daily Finance - 5/19/2013 12:47:19 PM
But there's another metric that puts the relative strength of the dollar in perspective: purchasing-power parity ... and offer four countries where the dollar offers a lot of value. Profiting from our increasingly global economy can be as ...
Problems with figuring poor countries’ GDP cloud judgments about which policies work
Japan Times - 5/11/2013 3:05:39 PM
Traditionally, one of the guiding factors has been per capita ... country’s population. Yet GDP may be an inaccurate indicator in the poorest countries, which is a concern not only for policymakers or people like me who read lots of World ...
Ethiopia: A World Without GDP Is No Better
AllAfrica - 5/14/2013 10:01:27 AM
How does one decide which countries should ... How do you factor this into GDP? The challenges of calculating GDP are particularly acute in Sub-Saharan Africa, owing to weak national statistics offices and historical biases that muddy crucial measurements.
'India is third largest economy in purchasing power parity terms': Mukherjee
Newstrack India - 4/6/2013 10:32:12 AM
the Green Revolution in the 1960s made our country self-sufficient in food grains'. "We have also reduced the incidence of poverty. Today India is the third largest economy in the world in purchasing power parity terms," he added. President Mukherjee said ...
The problem with poor countries’ GDP
The Taipei Times - 5/10/2013 3:56:57 PM
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 ...
World Stocks Mixed Ahead of Key US Economic Index
ABC News - 5/16/2013 10:49:11 AM
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 ... which have been helping to power Wall Street to all-time ...
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 ...
Power likely to get parity with fertiliser for gas allocation
Hindustan Times - 5/12/2013 4:37:32 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 ...