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 ...
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.
China to Surpass U.S. Economy, Reclaim Global Power Role by 2040, Intel Report Says
Newsweek on MSN.com - 4/9/2021 8:27:23 PM
The U.S.-China rivalry "will affect most domains, straining and in some cases reshaping existing alliances and international organizations that have underpinned the international order for decades," according to a report by the Office of the Director of National Intelligence.
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 ...
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 ...
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 ...
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 ...
The pandemic recovery needs to be measured in well-being—not just GDP
Fast Company on MSN.com - 4/10/2021 6:00:38 AM
The gap between well-being and GDP became particularly evident after the 2008 global financial crisis. Even as rich countries’ economies recovered, unemployment, poverty, and housing insecurity stayed higher for years.
Pandemic recovery will take more than soaring growth – to fuel a more equitable economy, countries need to measure the well-being of people, too
YAHOO!News - 4/9/2021 12:56:00 PM
Researchers have long been searching for a more comprehensive way to assess national progress than GDP. erhui1979 via Getty ImagesOnce a country’s economy reaches a certain level of wealth, gross domestic product – which puts a single dollar value on a country’s total economic output – is no longer a good measure of its overall success.
China won’t be the 10-foot-tall bogeyman any time soon
South China Morning Post - 3/26/2021 9:57:00 PM
has declared he will single-handedly stop China from becoming the world ... s GDP is projected to exceed the US by the middle of the next decade. But measured by purchasing power parity ...