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’s Economy to Surpass that of US by 2016: IMF
China Digital Times - 5/19/2013 11:53:02 PM
America overtook Great Britain as the world’s leading economic power in the 1890s and never looked back. And both those countries live under very similar rules of constitutional government, respect for civil liberties and the rights of property.
The 5 Richest Countries in the World
The Motley Fool - 5/19/2013 4:29:14 PM
The recession has taken a toll on economies around the world, from driving down standards of living to sending unemployment to record levels. Through it all, however, some nations' people have emerged stronger and wealthier than ever before.
'India is third largest economy in purchasing power parity terms': Mukherjee
Newstrack India - 4/6/2013 10:32:12 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 Mukherjee said ...
10 Countries Where People Fear For Their Safety: 24/7 Wall St.
The Huffington Post - 5/19/2013 9:29:52 PM
The International Monetary Fund (IMF) provided GDP per capita figures, and they are stated on a purchasing power parity basis ... taken from the World Bank. Much of the information provided regarding the safety of these countries were provided ...
JIM O'NEILL: I've Found Myself Asking 2 Questions About The Economy I Didn't Expect To
I4U NEWS - 5/22/2013 7:10:19 PM
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. For the last few years, a central t ... DARWIN, Australia, May 22 (Xinhua ...
Qatar, the world's richest country: Forbes
MENAFN - 5/14/2013 11:58:58 PM
(MENAFN) Forbes magazine named Qatar the world's wealthiest country in its latest list, with the UAE placed sixth and Kuwait fifteenth, Arabian Business reported. Forbes said it looked at GDP per capita adjusted for purchasing power for 182 nations, using ...
4 Countries Where U.S. Dollars Go the Farthest
The Motley Fool - 5/19/2013 12:40:10 PM
But there's another metric that puts the relative strength of the dollar in perspective: purchasing-power parity ... and offer four countries where the dollar offers a lot of value. Profiting from our increasingly global economy can be as ...
The problem with poor countries’ GDP
Today Online - 5/16/2013 8:07:32 PM
Traditionally, one of the guiding factors has been per capita gross domestic product (GDP ... such as the World Bank need to do more to help the African authorities produce a clearer picture of their economies. And African policymakers need to be ...
China projected to overtake US as the largest economy by 2017
MENAFN - 5/17/2013 11:55:25 PM
China is projected to overtake the US as the largest economy by 2017 in purchasing ... while advanced economies grow at around 2 percent or less - we will continue to live in a two-speed world economy for some decades to come as a catch up process ...
WILL CHINA OVERTAKE THE U.S. AS THE TOP WORLD POWER? NOT YET
American Reporter - 5/23/2013 4:57:17 AM
Using a formula that measures economies in terms of real goods and services called purchasing power parity, or PPP, the most recent version of the IMF's World Economic Outlook forecast ... Unlike other countries that saw a rapid expansion in trade and ...
Ethiopia: A World Without GDP Is No Better
AllAfrica - 5/14/2013 10:01:27 AM
How does one decide which countries should ... How do you factor this into GDP? The challenges of calculating GDP are particularly acute in Sub-Saharan Africa, owing to weak national statistics offices and historical biases that muddy crucial measurements.
Goa Cabinet gives nod to continue power purchase from Reliance Infra
Economic Times - 5/22/2013 2:59:46 PM
The high current account deficit will persist as long as we live in a world of ... transformative power, in its ability to raise human awareness,” says Nandana Sen. PANAJI: Goa cabinet today decided to continue with the purchase of power ...
UAE economy doing fine
Gulf News - 5/18/2013 8:45:08 AM
The UAE economy is experiencing a golden period, an assertion supported by plenty of evidence. To begin with, the country’s gross domestic ... over the UAE of GDP on the basis of purchasing power parity reflecting local conditions. Furthermore, a newly ...
Problems with figuring poor countries’ GDP cloud judgments about which policies work
Japan Times - 5/11/2013 2:58:30 PM
Yet GDP may be an inaccurate indicator ... international organizations such as the World Bank need to do more to help African authorities produce a clearer picture of their economies. • African policymakers need to be more consistent about demanding ...
Global equities look attractive amid risks in 2nd quarter
nationmultimedia.com - 5/22/2013 4:39:59 PM
Since they surged in the first quarter, US and China/Hong Kong stocks are investors' best ... This issue may affect investors' confidence, and the US government may face the risk of a credit-rating downgrade. Although investments in global ...