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GDP based on PPP (purchasing power parity)

Page history last edited by Brian D Butler 15 years, 2 months ago

Table of Contents:


 

 

 

Ranking

Rank
Country
GDP (purchasing power parity)
Date of Information
1
World $ 70,650,000,000,000 2008 est.
2
European Union $ 14,960,000,000,000 2008 est.
3
United States $ 14,580,000,000,000 2008 est.
4
China $ 7,800,000,000,000 2008 est.
5
Japan $ 4,487,000,000,000 2008 est.
6
India $ 3,319,000,000,000 2008 est.
7
Germany $ 2,863,000,000,000 2008 est.
8
United Kingdom $ 2,281,000,000,000 2008 est.
9
Russia $ 2,225,000,000,000 2008 est.
10
France $ 2,097,000,000,000 2008 est.
11
Brazil $ 2,030,000,000,000 2008 est.
12
Italy $ 1,801,000,000,000 2008 est.
13
Mexico $ 1,578,000,000,000 2008 est.
14
Spain $ 1,378,000,000,000 2008 est.
15
Canada $ 1,336,000,000,000 2008 est.
16
Korea, South $ 1,312,000,000,000 2008 est.
17
Indonesia $ 932,100,000,000 2008 est.
18
Turkey $ 930,900,000,000 2008 est.
19
Iran $ 859,700,000,000 2008 est.
20
Australia $ 824,900,000,000 2008 est.
21
Taiwan $ 757,200,000,000 2008 est.
22
Netherlands $ 687,500,000,000 2008 est.
23
Poland $ 684,500,000,000 2008 est.
24
Saudi Arabia $ 600,400,000,000 2008 est.
25
Argentina $ 585,000,000,000 2008 est.
26
Thailand $ 570,100,000,000 2008 est.
27
South Africa $ 506,100,000,000 2008 est.
28
Pakistan $ 454,200,000,000 2008 est.
29
Egypt $ 452,500,000,000 2008 est.
30
Colombia $ 407,200,000,000 2008 est.
31
Belgium $ 398,700,000,000 2008 est.
32
Malaysia $ 397,500,000,000 2008 est.
33
Venezuela $ 368,600,000,000 2008 est.
34
Ukraine $ 359,900,000,000 2008 est.
35
Sweden $ 358,400,000,000 2008 est.
36
Greece $ 351,300,000,000 2008 est.
37
Nigeria $ 328,100,000,000 2008 est.
38
Philippines $ 327,200,000,000 2008 est.
39
Austria $ 325,000,000,000 2008 est.
40
Hong Kong $ 318,200,000,000 2008 est.
41
Switzerland $ 309,900,000,000 2008 est.
42
Romania $ 278,400,000,000 2008 est.
43
Czech Republic $ 273,700,000,000 2008 est.
44
Norway $ 267,000,000,000 2008 est.
45
Chile $ 252,900,000,000 2008 est.
46
Peru $ 249,500,000,000 2008 est.
47
Vietnam $ 246,600,000,000 2008 est.
48
Portugal $ 245,000,000,000 2008 est.
49
Singapore $ 244,000,000,000 2008 est.
50
Algeria $ 240,200,000,000 2008 est.
51
Bangladesh $ 228,400,000,000 2008 est.
52
Denmark $ 213,600,000,000 2008 est.
53
Israel $ 205,700,000,000 2008 est.
54
Hungary $ 203,900,000,000 2008 est.
55
Finland $ 201,200,000,000 2008 est.
56
Ireland $ 198,500,000,000 2008 est.
57
United Arab Emirates $ 186,800,000,000 2008 est.
58
Kazakhstan $ 184,300,000,000 2008 est.
59
Kuwait $ 157,900,000,000 2008 est.
60
Cuba $ 144,600,000,000 2008 est.
61
Morocco $ 137,400,000,000 2008 est.
62
Slovakia $ 123,100,000,000 2008 est.
63
New Zealand $ 118,900,000,000 2008 est.
64
Belarus $ 116,700,000,000 2008 est.
65
Angola $ 114,600,000,000 2008 est.
66
Iraq $ 113,900,000,000 2008 est.
67
Ecuador $ 107,000,000,000 2008 est.
68
Syria $ 96,530,000,000 2008 est.
69
Bulgaria $ 95,880,000,000 2008 est.
70
Sri Lanka $ 93,320,000,000 2008 est.
71
Libya $ 92,010,000,000 2008 est.
72
Sudan $ 88,950,000,000 2008 est.
73
Tunisia $ 83,400,000,000 2008 est.
74
Dominican Republic $ 83,330,000,000 2008 est.
75
Qatar $ 83,290,000,000 2008 est.
76
Serbia $ 83,140,000,000 2008 est.
77
Azerbaijan $ 77,970,000,000 2008 est.
78
Croatia $ 75,930,000,000 2008 est.
79
Puerto Rico $ 74,150,000,000 2008 est.
80
Uzbekistan $ 72,760,000,000 2008 est.
81
Guatemala $ 70,190,000,000 2008 est.
82
Oman $ 67,450,000,000 2008 est.
83
Kenya $ 66,480,000,000 2008 est.
84
Lithuania $ 65,760,000,000 2008 est.
85
Ethiopia $ 63,440,000,000 2008 est.
86
Slovenia $ 61,790,000,000 2008 est.
87
Yemen $ 60,480,000,000 2008 est.
88
Burma $ 56,580,000,000 2008 est.
89
Tanzania $ 56,220,000,000 2008 est.
90
Costa Rica $ 49,730,000,000 2008 est.
91
El Salvador $ 45,340,000,000 2008 est.
92
Lebanon $ 44,050,000,000 2008 est.
93
Cameroon $ 44,030,000,000 2008 est.
94
Bolivia $ 43,710,000,000 2008 est.
95
Uruguay $ 42,720,000,000 2008 est.
96
Latvia $ 41,610,000,000 2008 est.
97
Luxembourg $ 41,380,000,000 2008 est.
98
Korea, North $ 40,000,000,000 2008 est.
99
Panama $ 39,330,000,000 2008 est.
100
Ghana $ 34,520,000,000 2008 est.
101
Uganda $ 34,230,000,000 2008 est.
102
Cote d'Ivoire $ 33,780,000,000 2008 est.
103
Jordan $ 31,010,000,000 2008 est.
104
Nepal $ 30,840,000,000 2008 est.
105
Bosnia and Herzegovina $ 30,490,000,000 2008 est.
106
Turkmenistan $ 30,190,000,000 2008 est.
107
Trinidad and Tobago $ 29,760,000,000 2008 est.
108
Cambodia $ 29,240,000,000 2008 est.
109
Botswana $ 29,170,000,000 2008 est.
110
Paraguay $ 29,110,000,000 2008 est.
111
Estonia $ 28,600,000,000 2008 est.
112
Honduras $ 28,480,000,000 2008 est.
113
Bahrain $ 26,750,000,000 2008 est.
114
Afghanistan $ 26,290,000,000 2008 est.
115
Cyprus $ 23,120,000,000 2008 est.
116
Albania $ 23,070,000,000 2008 est.
117
Senegal $ 22,980,000,000 2008 est.
118
Georgia $ 22,930,000,000 2008 est.
119
Gabon $ 22,160,000,000 2008 est.
120
Madagascar $ 21,620,000,000 2008 est.
121
Jamaica $ 21,570,000,000 2008 est.
122
Congo, Democratic Republic of the $ 21,080,000,000 2008 est.
123
Brunei $ 20,650,000,000 2008 est.
124
Mozambique $ 19,680,000,000 2008 est.
125
Armenia $ 19,600,000,000 2008 est.
126
Burkina Faso $ 19,340,000,000 2008 est.
127
Macedonia $ 18,970,000,000 2008 est.
128
Equatorial Guinea $ 18,620,000,000 2008 est.
129
Zambia $ 17,830,000,000 2008 est.
130
Nicaragua $ 17,370,000,000 2008 est.
131
Macau $ 16,780,000,000 2007 est.
132
Chad $ 16,190,000,000 2008 est.
133
Mauritius $ 15,750,000,000 2008 est.
134
Mali $ 14,980,000,000 2008 est.
135
Congo, Republic of the $ 14,790,000,000 2008 est.
136
Laos $ 14,220,000,000 2008 est.
137
Papua New Guinea $ 13,360,000,000 2008 est.
138
Benin $ 13,150,000,000 2008 est.
139
Tajikistan $ 13,040,000,000 2008 est.
140
Iceland $ 12,970,000,000 2008 est.
141
Haiti $ 12,150,000,000 2008 est.
142
Gaza Strip $ 11,950,000,000 2008 est.
143
West Bank $ 11,950,000,000 2008 est.
144
Malawi $ 11,820,000,000 2008 est.
145
Kyrgyzstan $ 11,660,000,000 2008 est.
146
Namibia $ 11,590,000,000 2008 est.
147
Guinea $ 11,070,000,000 2008 est.
148
Moldova $ 10,760,000,000 2008 est.
149
Malta $ 9,801,000,000 2008 est.
150
Mongolia $ 9,792,000,000 2008 est.
151
Niger $ 9,657,000,000 2008 est.
152
Bahamas, The $ 9,189,000,000 2008 est.
153
Rwanda $ 8,909,000,000 2008 est.
154
Montenegro $ 7,160,000,000 2008 est.
155
Mauritania $ 6,492,000,000 2008 est.
156
Somalia $ 5,756,000,000 2008 est.
157
Swaziland $ 5,708,000,000 2008 est.
158
Barbados $ 5,695,000,000 2008 est.
159
Togo $ 5,428,000,000 2008 est.
160
Jersey $ 5,100,000,000 2005 est.
161
French Polynesia $ 4,580,000,000 2003 est.
162
Bermuda $ 4,500,000,000 2004 est.
163
Sierra Leone $ 4,418,000,000 2008 est.
164
Suriname $ 4,240,000,000 2008 est.
165
Liechtenstein $ 4,160,000,000 2007
166
Kosovo $ 4,000,000,000 2007 est.
167
Eritrea $ 3,965,000,000 2008 est.
168
Fiji $ 3,431,000,000 2008 est.
169
Lesotho $ 3,384,000,000 2008 est.
170
Bhutan $ 3,294,000,000 2008 est.
171
Central African Republic $ 3,262,000,000 2008 est.
172
Burundi $ 3,215,000,000 2008 est.
173
New Caledonia $ 3,158,000,000 2003 est.
174
Guyana $ 3,082,000,000 2008 est.
175
Netherlands Antilles $ 2,800,000,000 2004 est.
176
Andorra $ 2,770,000,000 2005
177
Timor-Leste $ 2,760,000,000 2008 est.
178
Guernsey $ 2,742,000,000 2005
179
Isle of Man $ 2,719,000,000 2005 est.
180
Belize $ 2,574,000,000 2008 est.
181
Guam $ 2,500,000,000 2005 est.
182
Zimbabwe $ 2,292,000,000 2008 est.
183
Aruba $ 2,258,000,000 2005 est.
184
Gambia, The $ 2,044,000,000 2008 est.
185
Cayman Islands $ 1,939,000,000 2004 est.
186
Djibouti $ 1,930,000,000 2008 est.
187
Cape Verde $ 1,808,000,000 2008 est.
188
Saint Lucia $ 1,800,000,000 2008 est.
189
Maldives $ 1,746,000,000 2008 est.
190
Liberia $ 1,741,000,000 2008 est.
191
Antigua and Barbuda $ 1,615,000,000 2008 est.
192
Virgin Islands $ 1,577,000,000 2004 est.
193
Seychelles $ 1,537,000,000 2008 est.
194
San Marino $ 1,400,000,000 2006
195
Grenada $ 1,225,000,000 2008 est.
196
Solomon Islands $ 1,126,000,000 2008 est.
197
Greenland $ 1,100,000,000 2001 est.
198
Saint Vincent and the Grenadines $ 1,089,000,000 2008 est.
199
Samoa $ 1,082,000,000 2008 est.
200
Gibraltar $ 1,066,000,000 2005 est.
201
Vanuatu $ 1,010,000,000 2008 est.
202
Faroe Islands $ 1,000,000,000 2001 est.
203
Monaco $ 976,300,000 2006 est.
204
Mayotte $ 953,600,000 2005 est.
205
Guinea-Bissau $ 904,400,000 2008 est.
206
Northern Mariana Islands $ 900,000,000 2000 est.
207
British Virgin Islands $ 853,400,000 2004 est.
208
Saint Kitts and Nevis $ 797,500,000 2008 est.
209
Comoros $ 778,600,000 2008 est.
210
Dominica $ 688,700,000 2008 est.
211
Tonga $ 521,500,000 2008 est.
212
American Samoa $ 510,100,000 2003 est.
213
Kiribati $ 412,500,000 2008 est.
214
Sao Tome and Principe $ 278,400,000 2008 est.
215
Micronesia, Federated States of $ 277,000,000 2002 est.
216
Turks and Caicos Islands $ 216,000,000 2002 est.
217
Cook Islands $ 183,200,000 2005 est.
218
Palau $ 164,000,000 2007 est.
219
Marshall Islands $ 115,000,000 2001 est.
220
Anguilla $ 108,900,000 2004 est.
221
Falkland Islands (Islas Malvinas) $ 105,100,000 2002 est.
222
Nauru $ 60,000,000 2005 est.
223
Wallis and Futuna $ 60,000,000 2004 est.
224
Saint Pierre and Miquelon $ 48,300,000 2003 est.
225
Montserrat $ 29,000,000 2002 est.
226
Saint Helena $ 18,000,000 1998 est.
227
Tuvalu $ 14,940,000 2002 est.
228
Niue $ 7,600,000 2000 est.
229
Tokelau $ 1,500,000 1993 est.

 

source:  https://www.cia.gov/library/publications/the-world-factbook/rankorder/2001rank.html

 

What is GDP based on PPP?

see:  http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita

 

 

 

 

 

 

 

How the rankings can change...

 

China's Economy Smaller In New Study: World Bank

 

The size of China's economy is overestimated by some 40 percent, but it remains the world's second largest using a ranking based on purchasing power, the World Bank said Monday.  

 

 

In a report ranking the world's economies for 2005, the World Bank said its updated survey using ‘purchasing power parity’ (PPP) shows a much smaller value for China than earlier estimates…The [International Comparison Program] study carried out by the World Bank and other partners was ‘the most extensive and thorough effort to measure the relative size of 146 economies using the PPP method which strips out the effect of exchange rates, a Bank statement said. …” [Agence France Presse/Factiva]

 

 

 WSJ notes that “…The program collected data on the prices of more than 1,000 goods and services in 100 countries to come up with a ‘purchasing power parity’ figure for converting national currencies into dollars. …

 

 

The program used purchasing power parity statistics to rank national wealth and poverty. The nations with the highest GDP per capita are Luxembourg, Qatar, Norway, Brunei and Kuwait, all of which are tiny economies. By looking at individual consumption, the richest are Luxembourg, the US, Iceland, the UK and Norway.  

 

 

The poorest nations on earth, as ranked by GDP per capita, are, in order, Democratic Republic of Congo, followed by Liberia, Burundi, Zimbabwe and Guinea-Bissau. …” [The Wall Street Journal/Factiva] 

 

 

AP writes that “The World Bank said the economies of China and India are about 40 percent smaller than earlier estimates after it revised calculations using consumers' relative purchasing power to measure economic might.  

 

 

The new figures released by the World Bank on Monday differ from conventional GDP figures, which are calculated by simply converting local statistics into US dollars - but don't take into account the wide variations in the purchasing power of a dollar from country to country. … 

 

 

Under the new estimates, the number of Chinese living on less than $1 a day …is nearly 300 million. The earlier estimates put that figure at 100 million. …” [The Associated Press/Factiva]

 

 

Reuters adds that “…The report shows that 12 countries account for more than two-thirds of the world's output, and five of those are emerging economies: China, India, Russia, Brazil and Mexico. Overall, the results show that the size of the world economy measured in PPP terms is smaller than previously estimated. Asia's economies are one-third smaller than previously thought, largely because of the downgrades to China and India, while Africa's are one-fourth smaller.” [Reuters/Factiva] 

 

 

 

The great fall of China

 

The  most important story to come out of Washington recently had nothing to do with the endless presidential campaign. And although the media largely ignored it, the story changes the world.The story's unlikely source was the staid World Bank, which published updated statistics on the economic output of 146 countries. China's economy, said the bank, is smaller than it thought.

 

 

About 40% smaller.

 

 

China, it turns out, isn't a $10-trillion economy on the brink of catching up with the United States. It is a $6-trillion economy, less than half our size. For the foreseeable future, China will have far less money to spend on its military and will face much deeper social and economic problems at home than experts previously believed.

 

 

What happened to $4 trillion in Chinese gross domestic product?

 

 

Statistics. When economists calculate a country's gross domestic product, they add up the prices of the goods and services its economy produces and get a total -- in dollars for the United States, euros for such countries as Germany and France and yuan for China. To compare countries' GDP, they typically convert each country's product into dollars.

 

 

The simplest way to do this is to use exchange rates. In 2006, the World Bank calculated that China produced 21 trillion yuan worth of goods and services. Using the market exchange rate of 7.8 yuan to the dollar, the bank pegged China's GDP at $2.7 trillion.

 

 

That number is too low. For one thing, like many countries, China artificially manipulates the value of its currency. For another, many goods in less developed economies such as China and Mexico are much cheaper than they are in countries such as the United States.

 

 

To take these factors into account, economists compare prices from one economy to another and compute an adjusted GDP figure based on "purchasing-power parity." The idea is that a country's GDP adjusted for purchasing-power parity provides a more realistic measure of relative economic strength and of living standards than the unadjusted GDP numbers.

 

 

Unfortunately, comparing hundreds and even thousands of prices in almost 150 economies all over the world is a difficult thing to do. Concerned that its purchasing-power-parity numbers were out of whack, the World Bank went back to the drawing board and, with help from such countries as India and China, reviewed the data behind its GDP adjustments.

 

 

It learned that there is less difference between China's domestic prices and those in such countries as the United States than previously thought. So the new purchasing-power-parity adjustment is smaller than the old one -- and $4 trillion in Chinese GDP melts into air.

 

 

The political consequences will be felt far and wide. To begin with, the U.S. will remain the world's largest economy well into the future. Given that fact, fears that China will challenge the U.S. for global political leadership seem overblown. Under the old figures, China was predicted to pass the United States as the world's largest economy in 2012. That isn't going to happen.

 

 

Also, the difference in U.S. and Chinese living standards is much larger than previously thought. Average income per Chinese is less than one-tenth the U.S. level. With its people this poor, China will have a hard time raising enough revenue for the vast military buildup needed to challenge the United States.

 

 

The balance of power in Asia looks more secure. Japan's economy was not affected by the World Bank revisions. China's economy has shrunk by 40% compared with Japan too. And although India's economy was downgraded by 40%, the United States, Japan and India will be more than capable of balancing China's military power in Asia for a very long time to come.

 

 

But don't pop the champagne corks. It is bad news that billions of people are significantly poorer than we thought. China and India are not the only countries whose GDP has been revised downward. The World Bank figures show sub-Saharan Africa's economy to be 25% smaller. One consequence is that the ambitious campaign to reduce world poverty by 2015 through the United Nations Millennium Development Goals will surely fail. We have underestimated the size of the world's poverty problem, and we have overestimated our progress in attacking it. This is not good.

 

 

There is more bad news. U.S. businesses and entrepreneurs hoping to crack the Chinese and Indian markets must come to terms with a middle class that is significantly smaller than thought. Investors in overseas stocks should take note. Companies with growth plans tied to the Indian and Chinese markets could face disappointing results, and the high prices of many emerging-market stocks depend on buzz and psychology. Investor sentiment on China and India may now be significantly more vulnerable to future bad news.

 

 

China's political stability may be more fragile than thought. The country faces huge domestic challenges -- an aging population lacking any form of social security, wholesale problems in the financial system that dwarf those revealed in the U.S. sub-prime loan mess and the breakdown of its health system. These problems are as big as ever, but China has fewer resources to meet them than we thought.

 

 

And there is the environment. With poor air quality, acute water shortages, massive pollution in major watersheds and many other environmental problems, China needs to make enormous investments in the environment to avoid major disasters. Globally, it will be much harder to get China -- and India -- to make any sacrifices to address problems such as global warming.

 

 

For Americans, the new numbers from the World Bank bring good news and bad. On the plus side, U.S. leadership in the global system seems more secure and more likely to endure through the next generation. On the other hand, the world we are called on to lead is poorer and more troubled than we anticipated.

 

 

source:  LA Times
 

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