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This is a list of countries by their gross domestic product at purchasing power parity per person currently employed. International Labour Organization (2020−2022) CIA World Factbook [ 1 ] [ 2 ]
A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year. This is similar to nominal GDP per capita but adjusted for the cost of living in each country.
Real GDP is an example of the distinction between real and nominal values in economics.Nominal gross domestic product is defined as the market value of all final goods produced in a geographical region, usually a country; this depends on the quantities of goods and services produced, and their respective prices.
Continue reading ->The post GDP: Definition, Examples and Economic Usage appeared first on SmartAsset Blog. It’s used to gauge a nation’s economic growth and its people's standard of living ...
Gross domestic product (GDP) is a monetary measure of the market value [2] of all the final goods and services produced and rendered in a specific time period by a country [3] or countries. [ 4 ] [ 5 ] [ 6 ] GDP is often used to measure the economic health of a country or region. [ 3 ]
English: World map of GDP per Capita by Country. Gross domestic product (GDP) is converted to international dollars using purchasing power parity rates (PPP). World Bank, International Comparison Program database (2011–2014). GDP per capita - PPP in international US$
GDP comparisons using PPP are arguably more useful than those using nominal GDP when assessing the domestic market of a state because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates, which may distort the real differences in per capita ...
The Bureau of Economic Analysis's advance estimate of third quarter US gross domestic product (GDP) showed the economy grew at an annualized pace of 2.8% during the period, below the 2.9% growth ...