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
Dawn - 12/5/2016 6:37:07 AM
THE economy of India is the seventh-largest in the world measured by nominal GDP ... terms of purchasing power parity. According to Global Wealth Report 2016 compiled by Credit Suisse Research Institute, India is the second most unequal country in the ...
Is Iceland now the most expensive country in the world?
icelandmonitor.mbl.is - 12/5/2016 1:32:18 PM
Data from the International Monetary Fund (IMF) for 2015 showed that Switzerland was the most expensive country in the world, basis on nominal GDP corrected for purchasing power parity (PPP), with Iceland not far behind. Since then, Iceland’s national ...
Important Facts About The Economy Of Iran
worldatlas.com - 12/6/2016 5:27:20 PM
Iran is a country in the Middle East that is strategically ... Iran has a nominal GDP of $416.5 billion ranking 29th and $1.357 billion Purchasing Power Parity which ranks 18th. The contribution per sector to the GDP is estimated as services at 50.3% ...
The world’s top economy: the US vs China in five charts
weforum.org - 12/5/2016 10:19:02 AM
Both the IMF and the World Bank now rate China as the world’s largest economy based on Purchasing Power Parity (PPP), a measure that adjusts countries’ GDPs for differences ... than it would in the US, China’s GDP is adjusted upwards.
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 ...
Mumbai not the economic capital of India? Think again
Hindustan Times - 11/30/2016 1:02:26 PM
Delhi dislodged Mumbai as the country’s economic capital based ... Delhi ranked 30th and Mumbai 31st in a list of top 50 world cities ranked by their GDP. Delhi’s GDP in terms of purchasing power parity last year was USD 368 billion; Mumbai’s USD ...
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.
The U.S. Economic Power
paradigmsanddemographics.blogspot.com - 12/5/2016 6:01:20 AM
A second is adjusting the GDP numbers to take into account purchasing power parity (PPP ... formula developed by Hubbard and Kane and data from the World Bank, I calculated the index of each country of the world. The table below shows the indexes for ...
What are the nations with the highest PPP (purchasing power parity) with respect to the US?
Investopedia - 3/12/2015 1:18:16 PM
It is one of the best indicators in valuing a country's economy. GDP can be calculated in market exchange terms and in purchasing power parity (PPP ... Fund (IMF), China has overtaken the U.S. as the world's largest economy based on purchasing power ...
Delhiites Rejoice As The City Has Overtaken Mumbai As India's Economic Capital
MensXP - 11/28/2016 10:27:20 AM
Oxford Economics is one of the world's foremost independent global ... Bhiwandi and Panvel, had a 2015 GDP of US $368 billion when seen in terms of purchasing power parity (PPP), using a 2012 PPP conversion rate of Rs 15.5 per dollar.
China's Economy Will Overtake The U.S. In 2018
bullmarketboard.com - 12/7/2016 4:47:23 AM
China's socialist market economy is the world's second largest economy by nominal GDP,and the world's largest economy by purchasing power parity according to the IMF,although China's National Bureau of Statistics rejects this claim.Until 2015 China was the ...
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 ...
Fidel Castro’s Cuba vs Lee Kuan Yew’s Singapore: A Tale of Two Economies (UPDATE)
usfunds.com - 11/29/2016 10:00:30 PM
With trade between the two countries on the path to ... Lee grew Singapore’s per capita GDP a massive 2,800 percent, from $500 to $14,500. Since then, its per capita GDP based on purchasing power parity (PPP) has caught up with and zoomed past America ...
Martin Wolf: Many perils await the euro zone
The Irish Times - 12/7/2016 5:33:19 PM
with deep recessions in a number of member countries (notably Italy) and stagnation in others (notably France). According to the Conference Board, a research group, between 2007 and 2016 real GDP per head at purchasing power parity rose 11 per cent in ...
Uniting for an Asian century
Economia - 11/30/2016 1:35:15 AM
The region now produces about 40% of the world’s GDP, measured according to purchasing power parity. During the recent economic ... in terms of global strategic influence, while Asian countries are facing major political, economic, and security challenges.