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
Money Makes the World Go ‘Round: An International Comparison of Economic Health
Yahoo Finance - 4/9/2021 8:30:00 PM
According to the CIA World Fact Book ... China took the reign at #1 in terms of GDP based on purchasing power parity. These two countries alone dominate the global economy, with a combined ...
World Economic Outlook Database
International Monetary Fund - 4/6/2021 12:00:00 AM
This differs from the calculations in the April 2005 and earlier World Economic Outlooks, where the composites were weighted by GDP valued at purchasing ... are now included for all countries. The purchasing power parity (PPP) weights have been updated ...
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.
What Is Purchasing Power Parity (PPP)?
Investopedia - 3/9/2015 7:30:00 PM
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 ...
EU becomes world’s third by purchasing power parity GDP after Brexit — Kudrin
TASS - 6/17/2019 11:53:00 AM
MOSCOW, June 24. /TASS/. The European Union is now third after China and the United States by the purchasing power parity (PPP) GDP following Brexit, Russia’s ex-Finance Minister and head of the ...
Help for low-income nations tops agenda at G20 meeting
Khmer Times - 4/9/2021 1:20:00 AM
Cambodia came 145th in a list of 191 countries compiled by the IMF World Economic Outlook October 2019, scoring gross domestic product (GDP) to purchasing power parity (PPP) of $4,664. GDP is the sum total of all goods and services produced by a country ...
Gross Domestic Product (GDP)
Investopedia - 4/7/2021 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 Federal Reserve ...
Brazil Drops in Global Ranking of Countries with The Highest GDP Per Capita in 2020
Folha OnLine - 4/13/2021 4:43:00 PM
the country underperformed the world average and lost 11 more positions (78th). In 2014, Brazil recorded the highest GDP per capita, due to the concept that considers the purchasing power parity ...
World Bank: Lebanon’s GDP to contract 9.5% in 2021
Zawya - 4/13/2021 7:14:00 AM
BEIRUT: The World Bank projected that Lebanon’s GDP ... purchasing power, and so forth, the World Bank warned. “Tracking population well-being on a regular basis and protecting the poor and the most vulnerable is an urgent priority for the country.