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
China Surpasses America As World’s Largest Economy
Value Walk - 5/27/2015 5:21:35 AM
This is why Purchasing Power Parity is the more accurate measurement of GDP when comparing any two countries with different currencies ... Clearly, on any list of calamities threatening the world economy, a China economic crash ranks near the top.
Dawn - 5/25/2015 1:42:03 AM
QATAR, the world’s largest exporter of liquefied natural gas and one of the smaller oil producing countries ... richest nations in the world with GDP per capita exceeding $100,000 based on the purchasing power parity exchange rates.
How To Break FIFA
Five Thirt Eight - 5/29/2015 3:46:09 AM
purchasing-power GDP. 4 This reflects that, for better or worse, a viewer in a country with high disposable income is more valuable to sponsors than one from a developing nation, making the wealthier nation’s TV rights more lucrative. The 2010 World Cup ...
India overtakes Japan to become third-largest economy in purchasing power parity
The Economic Times - 4/19/2012 7:06:53 AM
Data just released by the International Monetary Fund (IMF) shows that India's gross domestic product in purchasing power parity ... India's share in world GDP in terms of PPP, a measure of relative consumer prices across countries, stood at 5.65% in ...
China Gears Up For World War III
The Inquisitr - 5/21/2015 8:09:10 PM
The United States and other countries ... power. Last year, China passed the United States as the world’s largest economy by at least one measurement, according to RT News. China has a larger Gross Domestic Product measured by purchasing power parity ...
China, India and Russia to be top 3 shareholders of AIIB: report
Live Mint - 5/21/2015 2:11:15 PM
“Based on the AIIB members’ GDP weight in the world economy, China will become the bank ... “Whether measured by nominal GDP or the purchasing power parity-adjusted GDP, it makes sense for China to be the biggest capital contributor and the most ...
Make in India should not entirely focus on global market: Rajan
Firstpost - 5/28/2015 8:58:08 PM
We may end up with world class service firms ... We are quite a big country. We are a big country because on the GDP basis, we are USD 2 trillion economy ... we look at purchasing power parity, we are five to six trillion in size. If you look at number ...
South Korea outbound tourism forecast to total US$35.7Bn by 2019
Live-PR - 5/19/2015 8:08:33 AM
... nations with a world ranking of thirteenth for nominal GDP and by purchasing power parity. With GDP per capita expanding rapidly at 9% CAGR during the last six years, the country is set to become a major outbound tourism market. Reflecting this rising ...
China, India, Russia to be top 3 stake holders of AIIB
Deccan Herald - 5/21/2015 5:10:13 PM
“Based on the AIIB members’ GDP weight in the world economy, China will become the bank ... "Whether measured by nominal GDP or the purchasing power parity-adjusted GDP, it makes sense for China to be the biggest capital contributor and the most ...
Fighting poverty by mobilising domestic resources
Financial Times - 5/25/2015 11:03:23 PM
This year, global leaders could set the world on a path to overcoming ... ONE is calling for a minimum target of $300-$500 at purchasing power parity per capita or 10 per cent GDP, whichever is greater, though countries must set appropriate levels for ...
Germany outpaces US in economic ‘wellbeing’ index
Financial Times - 5/28/2015 11:06:59 PM
Germans are benefiting more from their country’s economic rebound than Americans ... Between 2006 and 2013 both recorded an average GDP growth of 1.1 per cent (measured by purchasing power parity). But Germany did a much better job of translating that ...
Why Poland Tossed Its President
bloombergview.com - 5/26/2015 11:35:00 AM
In 2008-2013, its gross domestic product per capita increased faster than Brazil's: In terms of GDP per capita at purchasing power parity ... on Poles' perception of their country as a nice place to live. This year's World Happiness Report, published ...
CEIBS Prof. disappointed in Ghana’s economic dev’t
Ghana Web - 5/23/2015 5:19:10 AM
South Korea's market economy ranks 13th in the world by both nominal and purchasing power parity GDP, identifying it as one of the G-20 major economies. It is a developed country with a high-income economy and is the most industrialised member-country of ...
Budget 2015-16: Sonar Bangla & sustainable human development
opinion.bdnews24.com - 5/28/2015 1:41:29 PM
Per capita income has increased to USD 1340 and 2780 in purchasing power parity (PPP ... USA and European countries have been welcoming labour from the developing world because of the saturation point reached in substituting labour with capital machinery.
Minimum wage in South Africa vs the world
businesstech.co.za - 5/19/2015 8:58:40 AM
Data from OECD outlines which countries in the world offer the best minimum wages ... presented in international dollars (thus, taking purchasing power parity into account.) According to CNN Money, after applying income taxes and other mandatory deductions ...