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
UAE economy doing fine
Gulf News - 5/18/2013 8:45:08 AM
The UAE economy is experiencing a golden period ... Qatar comes second regionally with 41st global ranking; yet, Egypt, with all its tourism potentials, is ranked at a distant number 85 amongst 140 nations ranked in the report. To be sure, the financial ...
Global Solar Photovoltaic Power Market Share, Size, Trends, Analysis And Forecast to 2020 - Market Leaders to Achieve Grid Parity due to Decreasing Module Prices
San Francisco Gate - 5/18/2013 9:49:33 AM
In depth analysis of solar PV power market in Germany, the UK, Italy, France, Spain, Belgium, India, China, Japan, Australia, the US, Canada, Brazil, Mexico, South Africa and Israel ... during the forecast period. Airline companies around the world are ...
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 ...
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
Jim O'Neill economist and former chairman of Goldman Sachs Asset Management 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.
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 ...
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 ...
The problem with poor countries’ GDP
Today Online - 5/16/2013 8:07:32 PM
Now, thanks to the Internet, kids have access to far more information for free. How do you factor that into GDP? The challenges of calculating GDP are particularly acute in Sub-Saharan Africa, owing to weak national statistics offices and historical biases ...
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 ...
End of parity: Experts say A$ heading south
SBS Online - 5/17/2013 8:17:41 AM
Generally speaking, most say there is scope for the Australian dollar to flirt with US parity in the ... unit has a home below parity and expect to see a larger leg lower by year end, around US$0.95 in Q4.” Shane Oliver - AMP Capital “In the short ...
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 ...
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 ...
Would a New 'Bretton Woods' Save the Global Economy?
pbs.org - 5/14/2013 11:58:58 PM
The very words "Bretton Woods," it seemed, had become shorthand for enlightened globalization. Simply invoking the name of the remote New Hampshire town, where representatives of 44 allied nations came together 65 years earlier, in the midst of the century ...
Ethiopia: A World Without GDP Is No Better
AllAfrica - 5/14/2013 10:01:27 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. Yet, it is clear to me that we need to devote greater ...
JPMorgan Chase economist encouraged by global economy
Grand Rapids Business Journal - 5/17/2013 6:11:49 PM
Building permits for single-family homes were estimated at an annual rate of 595,000, about one-half of 1 percent below the February ... My estimates suggest that every penny that gas prices go down, it adds $1.4 billion in purchasing power for consumers.
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 ...