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
World's 10 richest countries, India at a dismal 130!
Rediff India Abroad - 7/20/2015 4:03:13 AM
Though India has surpassed China to become one of the fastest growing economies in the world, in terms of purchasing power parity, it lags behind 129 ... India has scored a dismal 130 out of 184 countries. With a GDP (PPP) of $4,060, India has a long ...
The richest and poorest countries in the world
businesstech.co.za - 7/19/2015 6:23:24 PM
Global Finance Magazine has listed the richest and poorest countries in the world based on GDP per capita, adjusted for purchasing power parity. The data is based off of the latest global GDP data from the IMF from 2009 to 2013. While total gross domestic ...
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 ...
Greece Takes 42nd Place Among Richest Countries in the World
Greek Reporter Greece - 7/20/2015 6:22:13 PM
Qatar, Luxembourg and Singapore are not just three of the smallest countries in the world ... in living standards on a whole between nations is to use GDP per capita on a purchasing power parity basis in current international dollars.”
Qatar named world's richest country, UAE also in top 10
Arabian Business - 7/16/2015 1:47:47 PM
Qatar has been named the richest country ... in the world's top 10 with a GDP per capita of $49,883. The data provided by the International Monetary Fund and compiled by the Global Finance Magazine, also took into account purchasing power parity, which ...
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 ...
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% ...
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 ...
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 ...
Morocco is the Arab World’s Fourth Poorest Country: Report
moroccoworldnews.com - 7/19/2015 12:39:48 PM
Based on data from the International Monetary Fund (IMF), Global Finance Magazine ranked Morocco 119th out of 174 in its list of the World’s Richest Countries. The analysis also took into account the purchasing power parity (PPP) basis, which analyses ...
RDA Legal chosen as exclusive India member by law network L&E Global
Economic Times - 7/21/2015 12:08:48 PM
With its specialised practice in this area, RDA Legal is one of the few firms in the country with a standalone ... India has the 7th largest GDP in the world, has the 3rd largest purchasing power parity (PPP), is in the top 20 global traders according ...
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 ...
List Of 23 Poorest Countries In The World Released... So Where Does Kenya Fall?
Ghafla - 7/16/2015 9:58:43 AM
Based on data from the IMF, the magazine ranked the world’s countries according to their GDP per capita and determined the poorest and richest ones, reports the Business Insider. The analysis also used a Purchasing Power Parity (PPP) basis, which takes ...
Puzzled by the dollar outlook? Buy a Big Mac
Yahoo Finance - 7/24/2015 4:01:28 PM
Economists call this the theory of purchasing-power parity. The Economist looks at just one item, a Big Mac, in several dozen countries around the world as a standard measure ... is undervalued in that local economy. For example, the average price of ...
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 ...