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
Top 10 Countries By GDP purchasing power parity
Jagran Josh - 9/21/2011 11:55:54 PM
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 ...
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.
Minimum Wage And Purchasing Power Parity: Only Nine Countries Have A Higher Minimum Wage Than The US’ [Infographic]
International Business Times - 3/8/2013 11:59:41 PM
Australia might have the highest hourly minimum wage in the world ... buying power, or Purchasing Power Parity (PPP), that $16 is worth only about $9.77 -- which is still quite a bit higher than the U.S. hourly minimum wage of $7.25. The country with ...
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 ...
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 ...
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 (PPP ... India's share in world GDP in terms of PPP, a measure of relative consumer prices across countries, stood at 5.65% ...
Burgeoning purchasing power of Chinese shapes global economy
ECNS - 5/22/2016 2:16:50 AM
China added the equivalent of Turkey's entire economy to global GDP in 2015, and the country is responsible for about 12 percent of total world GDP, says the report released on Thursday. China, in its transition from a manufacture-dominated economy to one ...
China Just Overtook The US As The World's Largest Economy
The Business Insider - 10/8/2014 5:02:03 AM
China just overtook the US to become the world's largest economy, according to ... 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 ...
Comparing Economies of Key Countries Using Purchasing Power Parity
Seeking Alpha - 12/26/2006 2:53:19 AM
It is useful to have a ready yardstick for comparing ... countries in terms of the Purchasing Power Parity of their GDP in 2005 as estimated by the United States Central Intelligence Agency. Purchasing Power Parity [PPP] essentially adjusts the size of ...
GDP Purchasing Power Parity 2014
Pakistan Defence - 4/18/2015 11:54:25 PM
Most of the Chinese data provided by Communist govt are fake, without free media, opposition in poltical system ,world not getting ... status of the Indian economy. It shouldn't be anywhere near the top 10 economies. Having a country like India which ...
The World's Richest Countries
Forbes - 2/22/2012 11:30:45 PM
In Pictures: The World’s Richest Countries In second place on our list is the mighty minnow Luxembourg, with a per capita GDP on a purchasing-power parity basis of just over ... the world’s wealthiest countries, Forbes looked at GDP per capita adjusted ...
World's 10 biggest economies, India at No 3
Rediff India Abroad - 8/13/2013 12:31:14 PM
The United States continues to remain the world’s largest economy ... Germany has sixth-largest economy by purchasing power parity. Besides being the second-largest exporter and third-largest importer of goods, the country has developed a very high ...
The 5 Richest Countries in the World
Daily Finance - 10/11/2014 7:28:49 AM
Let's take a look at the globe's five richest countries -- as ranked by the International Monetary Fund's 2014 estimates for GDP per capita, adjusted for purchasing power parity ... there's one thing the richest countries in the world need to keep ...
De-jargoned: Purchasing Power Parity
Live Mint - 10/19/2014 2:43:08 PM
India’s equivalent of the McDonald’s Big Mac burger is one of the world ... to purchasing power comparisons across countries, but there are other more relevant calculations that economists rely on. PPP-adjusted gross domestic product (GDP) data ...
China surpasses U.S. to become largest world economy
FOX News - 12/5/2014 9:54:10 PM
For the first time in decades, the U.S. is no longer the largest economy in the world, and China has ... of an economy’s strength is its “purchasing power parity” or PPP—the rate at which the currency of one country would have to be converted ...