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 in the year noted. 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 differences between the OER- and PPP-denominated GDP values for most of the wealthy industrialized countries are generally much smaller.
Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of January 1, 2020See also: GDP (purchasing power parity) map
The richest countries in the world right now
MSN - 4/30/2021 7:09:00 PM
Click or scroll through the 35 most prosperous countries in 2021 according to the latest International Monetary Fund (IMF) GDP by Purchasing Power Parity ... nation in the world, according ...
Countries That Control the World’s Gold
24/7 Wall St on MSN.com - 4/27/2021 9:00:04 PM
Methodology: To determine the countries that control the world’s gold, 24/7 Wall St. reviewed data on national gold reserves from the World Gold Council. Countries were ranked b
Purchasing Power Parity: Weights Matter
International Monetary Fund - 6/7/2019 4:46:00 PM
The IMF, one of these institutions, publishes many of its statistics—such as real GDP growth ... The other uses the purchasing power parity (PPP) exchange rate—the rate at which the currency of one country would have to be converted into that of ...
NON-FICTION: THE CHINA MIRACLE
Dawn - 5/9/2021 1:06:00 AM
The Story of the China Miracle by Ali Mahmood is a valuable addition to the scholarly books published in Pakistan on China. In an engaging style, the book provides a quick overview of China’s emergence as a modern socialist state after suffering a century of humiliation at the hands of Western powers and Japan,
The two sides of Chinese GDP
The Japan Times - 5/2/2021 6:46:00 AM
And the key takeaway here is that China remains a poor country, despite its phenomenal headline GDP growth over the past four decades.
International Comparison Program (ICP)
World Bank - 5/3/2021 5:40:00 PM
These data are essential to cross-country comparisons of GDP, consumption and investment ... and national efforts to produce reliable purchasing power parity (PPP) estimates and related measures of real expenditures adhere to approved policies, protocols ...
Commentary: Millions of people in China just don't want to be poor anymore
Channel NewsAsia Singapore - 5/6/2021 10:10:00 AM
What the glittering top line economic growth figures out of China do not show is the millions of Chinese still living in poverty and this is an
This Is the Country That Owns the Most Gold
24/7 Wall St - 5/2/2021 2:44:00 PM
To determine the countries that control the world’s gold ... World Bank and are for 2019. GDP and GDP per capita figures are based on purchasing power parity and are in constant 2017 ...