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
Gross Domestic Product Purchasing Power Parity (GDP PPP)
Global Finance - 8/14/2020 3:09:00 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 2022
Global Finance - 9/2/2022 12:00:00 AM
Click here to read more about the world's poorest countries ... That is why, when comparing per capita GDP across countries, GDP should be adjusted for purchasing power parity, which helps us take into account the inflation rates and the price of goods ...
China is the World’s Largest Economy: Get Over It
CounterPunch - 9/19/2022 5:32:00 AM
It is common for politicians and pundit types to speculate on when or whether China’s economy will pass the US economy as the world’s largest. The latest
Making sense of GDP growth and poverty
The New Indian Express - 9/18/2022 6:48:00 PM
The fifth-largest aggregate GDP is based on official exchange rates. If PPP exchange rates are used for conversion, Indian GDP is already the third-largest.
Methodology: How the 2022 Best Countries Were Ranked
U.S. News & World Report on MSN.com - 9/27/2022 4:01:41 AM
Behind a country's wealth and success are the policies that create possibilities, the people that drive the effort and the history that shapes the environment and perspective. Globalization has expanded a country's presence beyond its physical borders,
Risk of global recession in 2023 rises amid simultaneous rate hikes
FXStreet - 9/23/2022 4:25:00 AM
The Wall Street Journal reports Interest-Rate Hikes Come Thick and Fast Switzerland: Raised rates by 0.75 point to 0.5%, making it one of the last central banks to exit negative territory. U.K.: The Bank of England raised its key rate by 0.
Vietnam to rank among top 15 Asian economies in 2022
VOV Online - 9/21/2022 4:40:00 AM
VOV.VN - Vietnam is anticipated to be placed among the top 15 with the largest GDP based on purchasing power parity (PPP) in Asia this year, according to the latest projections made by the International Monetary Fund (IMF).
Sunanda K. Datta-Ray | The other side of life in the 5th largest economy
Deccan Chronicle - 9/27/2022 6:35:00 PM
Proud moment for India to pip the United Kingdom, our colonial ruler, as the fifth largest economy: India $3.5 trillion vs the UK $3.2 trillion”, gushed Kotak Mahindra Bank’s managing director, Uday Kotak.
Govt creating a futuristic healthcare model for poor, says Mansukh Mandaviya
The Financial Express on MSN.com - 10/1/2022 12:52:36 PM
According to World Bank data, India’s general government health expenditure (per capita, in purchasing power parity terms) stood at just $69.2 in 2019, way below the global average of $865.7. In China,