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
SA rand among most undervalued currencies in the world
businesstech.co.za - 3/29/2015 12:00:50 PM
It is based on the theory of purchasing-power ... each country, given its income per person, and its actual price gives a supersized measure of currency under- and over-valuation,” it said. According to the World bank, South Africa has a GDP per capita ...
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 to recent GDP data released by the International Monetary Fund. The IMF explains the purchasing power parity measure it used to estimate the new figures here. According the IMF, the purchasing power parity measure is a type of cross-country ...
What does China having the largest GDP mean?
Brookings - 3/27/2015 2:55:00 PM
In assessing swings in the balance of power, economic reductionism is tempting but very misleading. To be sure, countries with a large gross domestic product (GDP) sometimes convert ... these estimates are on a purchasing power parity basis, which many ...
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 ...
Countries with the highest GDP (purchasing power parity)
Mongabay - 1/24/2010 11:57:35 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 (PPP) exchange rates is the sum value of all goods and services produced in the ...
‘Deal to unlock Iran’s huge econ. potential’
Press TV - 4/1/2015 4:50:46 PM
It said with a GDP of about $366 billion ... a study by the US Congressional Research Service, which gives the country’s Gross Domestic Product a world ranking of 18 Purchasing Power Parity (PPP). When Goldman Sachs drew up its list of "Next 11" most ...
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
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 the highest “real” minimum wage is Luxembourg: $10.37 after being adjusted for PPP.
How your country's minimum wage stacks up against countries around the world
Times Union - 3/27/2015 1:29:06 PM
and against other countries around the world? The research team at Goldman Sachs just published a map showing how it breaks down. They've listed the amounts in US dollars, and adjusted for purchasing power parity (PPP) — so if your minimum wage looks low ...
US and Israel have bombed 14 Muslim nations in 25 years
The News International - 4/1/2015 2:10:18 AM
ECONOMIC COMPARISON OF ISLAMIC COUNTRIES WITH THE WORLD: It is pertinent to note that the combined Gross Domestic Product or GDP (at Purchasing Power Parity) of the 49 predominately Muslim states and eight having large Muslim minorities rests at just US$7 ...
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 ... India's share in world GDP in terms of PPP, a measure of relative consumer prices across countries, stood at 5.65% in ...
De-jargoned: Purchasing Power Parity
Live Mint - 10/19/2014 4:01:53 PM
Given that the basic product you are buying, i.e. Big Mac, is the same throughout the world, this index, which compares prices of the burger across about 50 countries ... lies in the concept of purchasing power parity (PPP). What is PPP?
The 5 Richest Countries in the World
The Motley Fool - 10/11/2014 12:36:37 PM
For some countries ... member Singapore ranks third in the world by per-capita GDP, and the recession has hardly slowed this powerhouse down: IMF data notes that Singapore's GDP, balanced for purchasing power parity, has jumped by more than 37% between ...
Employee Benefits in China
Financial Content - 3/24/2015 5:57:31 PM
Summary China is the world's largest country, based on population. Despite being the second-largest economy in terms of nominal GDP and purchasing power parity after the US, its development is not uniform. China is continuously trying to improve its social ...
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 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 ...
World's 10 biggest economies, India at No 3
Rediff India Abroad - 8/12/2013 11:59:37 PM
Photographs: Carlos Barria/Reuters Germany has sixth-largest economy by purchasing power parity. Besides being ... United Kingdom is a developed country and has the world's sixth-largest economy by nominal GDP. The service sector contributes to 73 per ...