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
IMF: China Surpasses US, now World’s Largest Economy
amtvmedia.com - 10/18/2016 3:19:20 PM
China just overtook the US to become the world’s largest economy ... 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 less in ...
20 Richest Cities in the World by 2016 GDP Per Capita
INSIDER MONKEY - 10/18/2016 9:07:06 AM
There aren’t that many surprises on 20 richest cities in the world by ... up using the GDP per capita, PPP or gross domestic product per capita converted to international dollars. In other words, we have used purchasing power parity rates to determine ...
Top 10 Countries By GDP purchasing power parity
Jagran Josh - 9/22/2011 11:15:56 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 ...
Calculating Purchasing Power Parity is easy (but doing it well is difficult)
andrewwhitby.com - 10/11/2016 2:20:14 AM
You can’t just line up dollars of GDP and count them. Price indices are similarly fiendish. Conceptually, the purchasing power parity exchange rate between ... Practically all of the world’s 200 odd countries have adopted the metric system.
RANKED: The 25 richest countries [By GDP based on purchasing-power-parity per capita]
freerepublic.com - 3/31/2016 7:50:31 AM
Based on data from the World Bank and the International Monetary Fund, the magazine ranked the world's countries according to their gross domestic product based on purchasing-power-parity per capita ... ranking at No. 27 with a GDP per capita of $39,224 ...
Is Africa’s entire GDP equal to that of France? Obama is mostly correct
mgafrica.com - 10/17/2016 1:33:09 PM
To bridge this, an indicator known as Purchasing Power Parity (PPP) is used to compare ... However, analysts said that in the context of countries’ broad ability to trade in the world market, GDP at market prices is more appropriate for comparing economies.
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
After years of the United States wearing the coveted crown China is now ranked the world's largest economy based on purchasing power parity ... According the IMF, the purchasing power parity measure is a type of cross-country comparison that looks beyond ...
The World Economy Without China
PROJECT SYNDICATE - 10/24/2016 2:07:48 PM
... the official arbiter of global economic metrics – the Chinese economy accounts for 17.3% of world GDP (measured on a purchasing-power-parity basis). A 6.7% increase in Chinese real GDP thus translates into about 1.2 percentage points of world growth.
How does purchasing power parity affect the GDP of a country?
www.quora.com - 2/6/2015 11:59:53 PM
Purchasing power parity, or PPP, does not change the GDP of ... The Penn World Trade is a widely cited source of PPP adjustments, and the so-called Penn Effect reflects such a systematic bias in using exchange rates to outputs among countries.
What is the relationship between nominal GDP and PPP (purchasing power parity)?
Investopedia - 5/4/2015 1:19:50 PM
Purchasing power parity ... GDP cannot be reasonably compared across time; real GDP would be better. It also doesn't make sense to compare the nominal GDP of different countries. After all, populations and costs of living are not consistent around the world.
Pakistan and Emerging Markets in the World Economy
International Monetary Fund - 10/24/2016 11:08:50 AM
This is an important time—“a moment of opportunity”—for Pakistan, a country undergoing an economic transformation ... with all of you to make it happen.  GDP measured at purchasing power parity.  Transparency International’s Corruption ...
BRUNEI DARUSSALAM GDP BASED ON PURCHASING POWER PARITY (PPP) VALUATION OF COUNTRY GDP
tradingeconomics.com - 9/25/2016 3:46:37 PM
IN 2015, BRUNEI DARUSSALAM'S GDP BASED ON PURCHASING POWER PARITY (PPP) VALUATION OF COUNTRY GDP IS EXPECTED TO BE 23.27 BILLIONS U.S. DOLLARS. IN 2009, BRUNEI DARUSSALAM'S ECONOMY SHARE OF WORLD TOTAL GDP, ADJUSTED BY PURCHASING POWER PARITY, WAS 0.03 ...
Top 5 Richest Countries in the World
yphone24.com - 10/24/2016 2:04:49 AM
Some of these rich countries in the top 5 will suprise you but they all earned their spots because they are simply the richest in the world today This list is based on Gross Domestic Product Based on Purchasing-Power-Parity Per Capita. 5. Brunei Darussalam ...
China `overtakes U.S. as the the world`s largest economy`
Lanka Newspapers - 10/21/2016 4:38:41 AM
China has toppled America to become the biggest economy in the world, according to ... The numbers are based on `purchasing power parity` (PPP) which makes adjustments for the fact that goods are cheaper in countries such as China relative to the US.
Growth Is Real Only If It Is Inclusive
Inter Press Service - 10/24/2016 3:26:32 PM
These are the people who live on USD 1.9 per day at 2011 purchasing power parity ... the World Bank has chosen soft infrastructure, both crucial for the country’s development. Infrastructure deficiency is blamed for poor investment-GDP ratio in ...