World gross domestic product (GDP) is a measure of the value created by economies. This can be measured in US dollars, a method known as nominal GDP. Alternatively, it can be measured with a method known as purchasing power parity (PPP) that considers the purchasing power of local currencies. The latter method is considered more accurate for assessing the level of development of an economy because it represents how much can actually be purchased in each nation with the value produced by its economy. The following chart sorts countries according to GDP calculated with the PPP method. For a list of nominal GDP see here.
|Rank||Country||GDP (Trillions International $)|
|33||United Arab Emirates||0.65|
|44||Hong Kong SAR (China)||0.46|
NotesA similar list in nominal US dollars can be found here.Keep in mind that the numbers above aren't per capita. For example, China has more than 4 times the population of the United States at approximately 1.43 billion versus 0.328 billion.All data is in trillions of international dollars (PPP).All data is for 2018 except Iran (2017) and Venezuela (2011).
If you enjoyed this page, please consider bookmarking Simplicable.
ReferencesInternational Comparison Program, World Bank | World Development Indicators database, World Bank | Eurostat-OECD PPP Programme., GDP (PPP), 2019.United States Census Bureau, U.S. and World Population Clock, 2020.
TrendingThe most popular articles on Simplicable in the past day.
Recent posts or updates on Simplicable.
© 2010-2023 Simplicable. All Rights Reserved. Reproduction of materials found on this site, in any form, without explicit permission is prohibited.
View credits & copyrights or citation information for this page.