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 1:01:38 PM
Compiled from data from the International Monetary Fund's 2013 estimates, here are the richest five ... has been one of the hottest growth stories in recent years. Singapore's emergence as a business hub and tax haven -- research firm ...
World stocks mixed ahead of key US economic index
Yahoo! News - 5/17/2013 8:53:28 AM
BANGKOK (AP) — 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. Investors were looking ahead to the Conference Board's ...
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 ...
4 Countries Where U.S. Dollars Go the Farthest
WTOP - 5/19/2013 1:58:54 PM
Many travelers are familiar with currency exchange rates and how that translates from dollar to yen, euro, or peso. But there's another metric that puts the relative strength of the dollar in perspective: purchasing-power parity. In the following video ...
Global Solar Photovoltaic Power Market Share, Size, Trends, Analysis And Forecast to 2020 - Market Leaders to Achieve Grid Parity due to Decreasing Module Prices
Benzinga - 5/18/2013 1:28:28 AM
GBI Research, a leading business intelligence provider, has released its latest research, “Solar Photovoltaic Power Market to 2020 Market Leaders to Achieve Grid Parity due to Decreasing Module Prices, Low Maintenance and Ease of Installation”.
JIM O'NEILL: I've Found Myself Asking 2 Questions About The Economy I Didn't Expect To
The Business Insider - 5/18/2013 5:42:00 PM
in addition to the news of the softer than expected Q1 real GDP growth of 7.7pc. An index of Chinese financial conditions — a combination of monetary growth, interest rates and their equity market — remains quite subdued. And I hear more and more ...
Problems with figuring poor countries’ GDP cloud judgments about which policies work
Japan Times - 5/11/2013 3:05:39 PM
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 ...
4 Countries Where U.S. Dollars Are Worth the Least
Daily Finance - 5/18/2013 2:07:15 PM
Many travelers are familiar with currency exchange rates and how that translates from dollar to yen, euro, or peso. But there's another metric that puts the relative strength of the dollar in perspective: purchasing-power parity. In the ...
The problem with poor countries’ GDP
Today Online - 5/16/2013 8:07:32 PM
Even in good financial times, development aid budgets are hardly overflowing. Government leaders and donors ... many African countries have trouble measuring the size of their relatively large subsistence economies and unrecorded economic activity.
Accurate GDP estimates mean we can help poor countries better
Lebanon Daily Star - 5/13/2013 9:29:50 PM
Yet GDP may be an inaccurate indicator in the poorest countries, a concern not only for policymakers or people like me who read lots of World Bank reports, but also for anyone who wants to use statistics to make the case for helping the world’s poorest ...
Japan GDP trumps expectations under Abenomics
CNN Money - 5/16/2013 12:40:44 AM
Abe's government has proposed reforms that would make the labor market more flexible, encourage immigration, bring nuclear power plants back online and draw more Japanese women into the workforce.
Rwanda: The Problem With Poor Countries' GDP
AllAfrica - 5/7/2013 10:24:04 AM
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. Bill Gates is Co-Chair of the Bill & Melinda Gates ...
Eurozone Economy Faces Risk Of Further Contraction In Q2: IHS Global Insight
RTT News - 5/16/2013 6:02:51 AM
The continuing recession and the recent relapse in business confidence suggest that the Eurozone economy is in serious danger of suffering further modest contraction in the second quarter, IHS Global Insight Chief European and UK Economist Howard Archer said.
Would a New 'Bretton Woods' Save the Global Economy?
pbs.org - 5/14/2013 11:58:58 PM
The role of central banks in shoring up the global economic recovery is set to be a key point of discussion among top financial officials from the world's seven leading economies when they gather in the UK this weekend.Photo by Alastair Grant - WPA Pool ...
Bill Gates: how GDP understates economic growth
The Guardian - 5/8/2013 10:54:30 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 ...