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 ...
Hanke’s World Inflation Update
National Review - 8/11/2020 10:30:00 AM
The correlations between Germany’s exchange rate and the two price indices were very close to one throughout the period, with the correlations moving to closer to one as the inflation rate increased.
The Heritage Foundation - 8/8/2020 5:12:00 AM
In order to facilitate comparisons among countries, the GDP and GDP per capita figures in the "Quick Facts" section have been adjusted to reflect Purchasing Power Parity (PPP). Caution should be ...
Appendix B: Economic categorization
Pew Research Center - 8/5/2020 6:10:00 AM
For this report we grouped countries into two economic categories: “advanced” and “emerging and developing.” In the report, this category is referred to as “emerging.” These categories are fairly common in specialized and popular discussions ...
US-China relations: bankrupt, broken America has no room to talk
South China Morning Post - 8/11/2020 2:45:00 PM
If China is held captive by a bankrupt ideology, as Pompeo claims, how do you explain its spectacular economic achievements and growing power? The US cannot win any new Cold War by demonising an ascendant China instead of addressing its own chronic problems.
Economic team cuts infrastructure budget
BusinessWorld - 8/7/2020 7:28:00 PM
The World Bank said the Philippines is among the countries that need to “connect users to water-supply networks.” The report also showed Manila had the second highest in purchasing-power-parity-adjusted water tariff in the region at $1.8 per cubic ...
China and the New Imperialism
Vanguard - 8/10/2020 12:16:00 AM
Britain in particular achieved world mastery through conquest of the high seas and acquisition of colonies. Through sterling and the