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, 2019See also: GDP (purchasing power parity) map
What Is Purchasing Power Parity (PPP)?
Investopedia - 7/26/2020 12:00:00 AM
Purchasing power parity (PPP) allows for economists to compare economic productivity and standards of living between countries. Some countries adjust their gross domestic product (GDP) figures to ...
Gross Domestic Product Purchasing Power Parity (GDP PPP)
Global Finance - 7/27/2020 12:00:00 AM
A background on Gross Domestic Product Purchasing Power Parity (GDP PPP) from the World Bank ... To measure the real size of the world’s economy and to compare costs of living across countries, we need to adjust for differences in purchasing power.
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 ...
The World's Richest and Poorest Countries 2020
Global Finance - 7/30/2020 12:00:00 AM
But how could the economies, for example, of San Marino or Luxembourg ever match that of such powerhouses when they are no more than tiny dots on the world ... per capita GDP across countries, GDP should be adjusted for purchasing power parity, which ...
A New U.S. National Security Strategy: A World Transformed
The National Interest - 7/20/2020 6:08:00 PM
Despite the wrongs committed against China in the past, the People’s Republic of China must not represent the future, for it is corrupt. Harking back to what Ronald Reagan did to spur the dissolution of the Union of Soviet Socialist Republics,
America’s Economic Model May Have Peaked. The Dollar’s Strength Goes With It.
Barron's - 7/20/2020 3:31:00 PM
Are the U.S. dollar’s days numbered? The question arises because the dollar has slipped over the past month in the world’s foreign exchange markets. To be sure, the recent moves aren’t very large. Since mid-June the dollar has dipped 1.
CoinTelegraph - 7/25/2020 12:00:00 AM
Most of the countries are members of the European Union, which has the world’s second largest economy by GDP and purchasing power parity. In terms of Bitcoin, Europe is just now preparing to ...
CoinTelegraph - 7/25/2020 12:00:00 AM
It is the tenth-largest country in the world by population and has the third- and fourth-largest economy by nominal GDP and purchasing power parity, respectively. Japan has been interested in ...
How growth reshaped India’s destiny, and why we need an encore
Mint - 7/20/2020 12:01:00 PM
Till about 1990, the GDP of the two countries were roughly equal in purchasing power parity (PPP ... most other large developing economies in the world over the past few decades even if it ...