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
India overtakes Japan to become third-largest economy in purchasing power parity
articles.economictimes.indiatimes.com - 4/18/2012 11:57:23 PM
NEW DELHI: Its economy ... to become the world's third-largest economy in purchasing power terms. Data just released by the International Monetary Fund (IMF) shows that India's gross domestic product in purchasing power parity (PPP) terms ...
Top 10 Countries By GDP purchasing power parity
jagranjosh.com - 11/30/2012 11:54:13 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 ...
China Overtakes U.S. as Biggest Economy When Measured by Purchasing Power
Bloomberg - 1/13/2011 11:52:56 PM
China overtook the U.S. last year as the world ... for the countries’ differing costs of living, Subramanian wrote in a note published yesterday, a week before President Hu Jintao visits Washington. So-called purchasing power parity calculates ...
Comparing Economies of Key Countries Using Purchasing Power Parity
Seeking Alpha - 12/25/2006 11:54:22 PM
Purchasing Power Parity [PPP] essentially adjusts the size of economies ... taken in combination with the rapid growth rates of the GDPs of the BRIC countries, bodes well for world economic growth – short of a major global military shock which would ...
The 5 Fastest-Growing Countries in the World
Daily Finance - 12/7/2013 9:59:20 AM
Peru's largest mining firm ... In fact, Peru is one of four countries that Vale's targeting with 85% of its mineral exploration, along with Canada, Australia, and Brazil. Considering Peru's growth outlook -- and the big role mining's played ...
India pips Japan to become third-largest economy in purchasing power parity
Zee News Limited - 4/19/2012 11:56:12 PM
New Delhi: India has overtaken Japan to become the world's third-largest economy in purchasing power parity, a newspaper reported on Thursday ... to purchase the same goods and services in two countries, and uses that to calculate an implicit foreign ...
World's 10 biggest economies, India at No 3
Rediff - 8/13/2013 7:01:57 AM
It is today the world's largest exporter of goods. High productivity, low labour costs and good infrastructure have backed its position as a global leader in manufacturing. In terms of total revenues, three of the world's top ten most valuable companies ...
‘India is third largest economy in purchasing power parity terms’: Mukherjee
TruthDive - 4/6/2013 10:53:41 AM
‘the Green Revolution in the 1960s made our country self-sufficient in food grains’. “We have also reduced the incidence of poverty. Today India is the third largest economy in the world in purchasing power parity terms,” he added. President ...
India to topple Japan as world's 3rd-largest economy
articles.economictimes.indiatimes.com - 9/20/2011 9:16:37 AM
NEW DELHI: India might become the world's third largest economy in 2011 by overtaking Japan in terms of gross domestic product (GDP) measured according to the domestic purchasing power of the rupee, otherwise called purchasing power parity.
How Can You Compare GDP Between Countries?
About - News & Issues (blog) - 12/12/2007 11:59:15 PM
(For more examples, see my definition of Purchasing Power Parity) The CIA Factbook gives you the both measurements of GDP: purchasing power parity (PPP) and official exchange rate (OER). Find out the Best Way to Compare GDP Between Countries.
Why India will be world's No. 1 economy by 2050
Rediff - 2/24/2011 2:46:13 AM
... world's second-largest economy by nominal GDP and the third largest in purchasing power parity. It is also the world's fourth largest exporter and sixth largest importer. It is also the only Asian country in the G-8. With GDP (PPP) of $4.356 trillion ...
WisdomTree: Emerging Currencies — Is Purchasing Power Parity Broken?
etftrends.com - 8/21/2013 3:49:20 PM
Frequently quoted by international economists as a means of assessing the value of currencies against one another, the basic notion of purchasing power parity (PPP) states that if currencies are in equilibrium (or fairly priced), then converting one ...
The World's Richest Countries
Forbes - 2/22/2012 11:30:45 PM
If wealth is power, then Qataris have some serious muscle to flex. The Persian Gulf emirate of 1.7 million people ranks as the world’s richest country per capita thanks to a rebound in oil prices and its massive natural gas reserves.