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
World Economic Outlook Database
International Monetary Fund - 7/27/2022 1:09:00 PM
Download the data for the January 2021 World Economic Outlook Update ... survey for new purchasing-power-parity benchmarks, the WEO’s estimates of purchasing-power-parity weights and GDP valued at purchasing power parity have been updated.
The World's Richest and Poorest Countries 2022
Global Finance - 8/2/2022 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 ...
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.
Gross Domestic Product (GDP)
Investopedia - 7/29/2022 12:00:00 AM
GDP Purchasing Power Parity (PPP) While not directly ... data from multiple sources, including a country’s statistical agencies and The World Bank. The only drawback to using a Fed database ...
Ranking of richest and poorest countries in 2022
Daily Times - 8/2/2022 4:11:00 PM
Hence, it is also important to judge how much a country’s residents can buy with their income. GDP has to be adjusted for the nation’s purchasing power parity. Inflation is taken into account ...
Ranking of Richest Countries Reveals Pakistan is Poorer Than India and Bangladesh
ProPakistani - 8/2/2022 2:50:00 PM
Global Finance, a New York-based monthly financial magazine, has ranked Pakistan lower than India and Bangladesh in its recently published list of the
Latest Articles in purchasing power parity
Businessworld - 7/23/2022 12:00:00 AM
Indian cities are the major contributors of the capital to the nation’s economy. Following are the top ten richest cities of India with respect of Gross Domestic Product (GDP).
China Daily - 7/1/2022 8:11:00 AM
Just as there are days and anniversaries that are special to people, some are special to countries ... the GDP, is often compared. In Poland, the per capita GDP, in purchasing power parity ...
What Is Gross Domestic Product (GDP)? Definition and FAQ
TheStreet.com - 7/30/2022 12:00:00 AM
While not directly a measure of GDP, economists also consider purchasing power parity (PPP ... including a country’s statistical agencies and The World Bank. The only drawback to using a ...