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 ...
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 ...
International Monetary Fund lowers outlook for global economy, but lifts China's
SoloNews - 4/26/2016 7:55:28 AM
"China, now the world's largest economy on a purchasing- power-parity basis, is navigating a momentous but complex transition toward more sustainable growth based on consumption and services", it said. "The forecast of economic growth in the CIS countries ...
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 ...
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% ...
US manufacturing industry seeks removal of trade, tax barriers in India
Economic Times - 5/3/2016 10:03:11 AM
Progress on these issues is needed to foster a stronger, more productive and mutually beneficial commercial relationship between the two countries ... ranked by the World Bank as the world's third largest economy by purchasing power parity (PPP) - ahead ...
IMF Economist Warns Brexit Risk 'Real,' Damaging To World Economy
Quadrangle - 4/21/2016 9:37:27 PM
The report said China, now the world's largest economy on a purchasing-power-parity basis, is navigating a momentous but complex transition toward more sustainable growth based on consumption and services. On Monday the City of London said leaving would be ...
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 ...
$15 Minimum Wages Would Be the Highest in the World
The Foundry - 4/22/2016 7:41:44 PM
California and New York are even scheduled to top the minimum wage set by the Socialist Party in France, which presently ranks third highest in the world ... [purchasing power parity] adjusted wages can afford the same goods and services in their own ...
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 ...
Which European country has the highest standard of living?
weforum.org - 4/29/2016 1:06:53 PM
Europe has a high number of countries that boast some of the highest standards of living in the world. Standard of living takes ... competitive compared to its European peers and Purchasing Power Parity (PPP) adjusted wages, are almost as high in Ireland ...
China’s Rise And What It Means For The World – Analysis
Eurasia Review - 5/1/2016 8:25:20 AM
Almost all estimates point to China eventually overtaking the US to become the world’s largest economy – they only differ on how soon the shift will take place. But in at least one indicator, purchasing power parity, China has already overtaken the US.
International Monetary Fund predicts 7.5 percent GDP for India in 2016, 2017
periodismotransversal.com - 4/26/2016 5:42:27 PM
"China, now the world's largest economy on a purchasing- power-parity basis, is navigating a momentous but ... and could have adverse socio-political impact on many countries. Global growth is projected to remain modest in 2016, at 3.2 percent, before ...
Irish economy to grow by 5% this year, International Monetary Fund predicts
Bills Insider - 4/26/2016 6:25:24 PM
It warned the country of the economic effects of aging ... help speed up the pace of the global economic recovery. "China, now the world's largest economy on a purchasing- power-parity basis, is navigating a momentous but complex transition toward more ...
World's 10 biggest economies, India at No 3
Rediff India Abroad - 8/13/2013 12:31:14 PM
Photographs: Carlos Barria/Reuters Germany has sixth-largest economy by purchasing power parity. Besides being ... and commodities markets countries. Click NEXT to read more... A developed country, France has the world's fifth-largest and Europe's second ...