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
Gross Domestic Product Purchasing Power Parity (GDP PPP)
Global Finance - 1/6/2020 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.
Countries with the largest gross domestic product at purchasing power parity 2017
Statista - 12/9/2019 12:00:00 AM
The statistic shows a ranking of the 20 countries with the largest gross domestic product (GDP) at purchasing power parity in 2017. In 2017, Thailand ranked 20th with a PPP-adjusted GDP of about ...
What is purchasing power parity (PPP)?
ig.com - 11/6/2019 11:04:00 AM
What is purchasing power parity? Purchasing power ... even predicting financial markets. The World Bank states that ‘the GDP (PPP) measure more accurately compares the volume of activity and production of a country to another’, 3 which is why it ...
What are the differences between nominal and purchasing power parity adjusted gross domestic product?
study.com - 9/2/2019 1:05:00 PM
Gross Domestic Product is the value of the final goods and services produced in a country within a given period. There are two types of GDP - real and nominal. There are three different methods to ...
Purchasing Power Parity: Weights Matter
International Monetary Fund - 11/15/2018 1:01:00 PM
The other approach uses the purchasing power parity (PPP) exchange rate—the rate at which the currency of one country would ... Take real GDP growth. International organizations use different approaches. The World Bank uses market-based rates to ...
The Poorest Countries in Asia
WorldAtlas - 1/23/2020 4:41:00 AM
While Asia is home to some of the strongest economies in the world, such as China, there are also some weaker economies. For the purposes of this analysis, a country’s measure of wealth is calculated based on the nominal gross domestic product (GDP) per capita at purchasing power parity (PPP). The GDP per capita method based on the PPP is ...
The 5 Largest Economies In The World And Their Growth In 2020
Nasdaq - 1/22/2020 7:24:00 PM
B ased on 2019 figures, about 78% of the global GDP of $86.31 billion is attributable to the sixteen economies in the trillion-dollar club. If we look even closer, the top five countries in terms of nominal GDP -- the U.
Is the US Economy ‘Just OK’ Compared to Other Countries?
Observer - 1/13/2020 3:32:00 PM
That economic status, based on a country’s GDP (determined by the IMF’s World Economic Outlook Database), is important for a country ... Singapore and Denmark will be close to catching America. When it comes to purchasing power parity, the U.S. drops out of the top 10 rankings, going down to 11th best in the world. The United States ...
The Poorest Countries in Africa
WorldAtlas - 1/23/2020 6:08:00 AM
The measurement of the wealth of different countries in the world can be done in a number of ways ... The GDP per capita can be calculated in relation to the nominal GDP or from the GDP at purchasing power parity (PPP). Using the nominal GDP per capita method is not preferred since the method does not take into account the inflation rate ...