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
De-jargoned: Purchasing Power Parity
Live Mint - 10/19/2014 4:01:53 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 ...
GDP misleads on China and the US
China - 10/29/2014 2:13:59 AM
In April and again last month, the World Bank and International Monetary Fund made ... a larger gross domestic product calculated under the assumption of purchasing power parity (GDP PPP). However, this method and this view are fundamentally flawed.
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
According the IMF, the purchasing power parity measure is a type of cross-country comparison that ... form in many countries around the world," it continued. The new figures show China's economy with a total GDP of $17.6 trillion in 2014, just ahead ...
PunditFact lies again
Human Events Blog - 10/30/2014 9:58:05 AM
... World Economy” called China “the world’s second-largest economy,” with not one word about per capita GDP or purchasing power parity. It also reprinted articles from other papers that discuss a country’s gross GDP with no reference to ...
India with 20 other countries set up Asian Infrastructure Investment Bank
Jagran Josh - 10/29/2014 1:55:29 PM
India along with 20 other countries on 23 October 2014 signed an agreement ... over fixing the bench marks which were expected to be combination of GDP and Purchasing Power Parity (PPP). • Based on this formula, India will be second largest share holder ...
China ahead of US in purchasing power parity: IMF
Dawn - 10/13/2014 1:35:41 AM
According to the IMF, China now amounts for 16.48pc of the world’s purchasing-power-adjusted GDP. At 16.28pc, the United States is slightly less than China. The IMF used the PPP (GDP based on purchasing power parity) method to calculate the size of the ...
pewglobal.org - 10/30/2014 12:28:24 PM
The table includes for each country the World Bank income classification, the GDP per capita based on purchasing power parity (PPP), the GDP in current prices and average GDP growth rate over the past 10 years.
Dethroning China's 'GDP supremacy' good for region
The Straits Times - 10/25/2014 3:51:47 AM
The country's leaders have signalled a policy ... recently confirmed that China has overtaken the US as the world's largest economy, with China's total GDP for this year in purchasing power parity (PPP) terms at US$17.6 trillion (S$22.4 trillion), or ...
The 5 Richest Countries in the World
The Motley Fool - 10/11/2014 7:28:49 AM
But just who is making out the best in the post-recession world? 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 -- and see ...
U.S. Earns Good Grades On Globabl Economic Report Card
Forbes - 10/20/2014 6:23:52 PM
For 10 years now the World Economic Forum (WEF) has published its annual competitiveness report, which assesses the strength of 144 countries ... GDP stands at around $16.8 trillion whereas China’s is $9.3 trillion. Based on purchasing power parity ...
Living in a world of illusions
Arab News - 10/29/2014 8:07:43 PM
But the biggest problem has been the failure of the developed countries — the architects of ... Monetary Fund — which recognized China as the world’s largest economy by purchasing power parity — concluded without increasing China’s share of ...
PunditFact: Can't compare black America's buying power to countries' GDP
Tampa Bay Times - 9/12/2014 4:31:27 PM
While China has the world's second-highest GDP, "its inhabitants are ... per capita by a conversion factor called purchasing power parity to account for the different values of goods and services in different countries. If you apply these factors, the ...
IMF Forecasts China To Dethrone US As World’s Biggest Economy With $17.6T GDP
International Business Times - 10/10/2014 5:21:09 AM
In April, the World Bank pointed out at by the end of 2014, China's GDP purchasing power parity terms would exceed that of the ... China's growth during the crisis enable a number of other countries, particularly commodity-exporting economies, to ride ...
China Overtakes US As World's Biggest Economy
Peace FM Online - 10/9/2014 6:58:23 PM
China has finally overtaken the USA as the world's ... of the world's purchasing-power adjusted GDP for a total of $17.632 trillion (£11 trillion). The US, by contrast, will make up 16.28 per cent, or $17.416 trillion. Purchasing power parity seeks ...
IMF Says China World's Largest Economy, Sort Of
Breitbart News - 10/9/2014 11:59:02 PM
equals Purchasing Power Parity for China of $15.1 trillion. For about 2000 years until approximately 1750 AD, China had the largest population and the largest GDP in the world. China kept the banner as the most populous country, but lost in GDP to Britain ...