GDP PPP based on: 2011 International Dollars. World Economics Limited. That's how it removes the effect of inflation. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). The quality of economic data across Asia-Pacific region varies considerably across countries, mainly as a result of lack of statistical capacity. Total economy of china is estimated over 27 trillion international dollar. CSV XML EXCEL. The Gross Domestic Product (GDP) in the United States was worth 21427.70 billion US dollars in 2019, according to official data from the World Bank and projections from Trading Economics. All rights reserved.Terms & Conditions. The IMF is not a primary source for purchasing power parity (PPP) data. Purchasing power parity (PPP) allows for economists to compare economic productivity and standards of living between countries. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Japan Nominal GDP: $5.15 trillion- Japan GDP (PPP): $5.75 trillion. This site uses cookies to optimize functionality and give you the best possible experience. ... GDP (constant 2010 US$) GDP (constant LCU) GDP: linked series (current LCU) GDP (current LCU) GDP per capita growth (annual %) Download. 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. Country-specific Note: See notes for: Gross domestic product, current prices (National currency). Japan. The most unreliable economic data is produced in Argentina which has manipulated inflation and GDP statistics since 2007. Some countries adjust their gross domestic product (GDP… 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. The Gross Domestic Product per capita in the United States was last recorded at 62682.80 US dollars in 2019, when adjusted by purchasing power parity (PPP). This page is a list of the countries of the world by gross domestic product (at purchasing … That's how it removes the effect of inflation. World Bank national accounts data, and OECD National Accounts data files. The GDP per Capita, in the United States, when adjusted by Purchasing Power Parity is equivalent to 353 percent of the world's average. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). All rights reserved. Japan is the third-largest … Find Out, Online tool for visualization and analysis. It is estimated that the application of the latest standard would add US$824 billion. China GDP PPP took over that of the US during 2014. Tuvalu is the world's smallest national economy with a GDP (PPP) of approximately Int. To learn more about cookies, click here. 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. To learn more about cookies, click here. CSV XML EXCEL. In terms of GDP in PPP, China is the largest economy, with a GDP (PPP) of $25.27 trillion. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). The current base year is 2012. Source: International Monetary Fund, World Economic Outlook Database, April 2019, GDP (purchasing power parity) by year chart, GDP (purchasing power parity) - comparative map, GDP, PPP (current international $) - thematic map - World Bank indicator, GDP, PPP (current international $) - country comparison - World Bank indicator. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. GDP per capita, PPP (current international $), GDP per capita, PPP (constant 2017 international $), International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. Data. ... GDP per capita, PPP (constant 2017 international $) Inflation, GDP deflator (annual %) Oil rents (% of GDP) Download. © World Economics Limited. Most American countries use a national income accounting standard that fails to record the informal economy. At the other extreme, for instance Denmark's nominal GDP per capita is around US$53,242, but its PPP figure is US$46,602, in line with other developed nations . In 2018, the United States accounted for 15.2 percent of global gross domestic product (GDP) after adjusting for purchasing power parity (PPP). This discrepancy has large implications; for instance, when converted via the nominal exchange rates GDP per capita in India is about US$1,965 while on a PPP basis it is about US$7,197. For more on GDP (PPP), see the projections for the world’s largest 10 economies in 2030 that we published earlier this year. CSV XML EXCEL. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. 106-23. Missing data, out of date base years, disputed population data and the size of the unrecorded informal economy means that international rankings of countries in terms of GDP and GDP per capita are meaningless. Factbook > Countries > United States > Economy. 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. By 2023, China's GDP (PPP) would be $36.99 trillion. ... GDP (constant 2010 US$) GDP (constant LCU) GDP: linked series (current LCU) GDP (current LCU) GDP per capita growth (annual %) Download. China vs US – Comparing GDP PPP. ... GDP, PPP (constant 2017 international $) GDP (current LCU) GDP, PPP (current international $) GDP per capita growth (annual %) Download. GDP, PPP (current international $) - China, United States from The World Bank: Data Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). GDP, PPP (current international $) from The World Bank: Data. GDP or gross domestic product is the evaluation of all the final goods and services produced in a country in a period of time (annually or quaterly). GDP can also be evaluated for a state, city or any other region. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). World Economics makes available of world’s most comprehensive GDP database covering over 130 countries with historical GDP PPP data from 1870-2019, building on the lifetimes work of Angus Maddison. China GDP PPP reached $18.3 trillion in 2014, whereas US GDP PPP was $17.5 trillion at that time. For example, the UK’s unadjusted GDP per capita was $45,729 in 2014, but because prices there are higher on average than in the US (for food, clothing, energy, transportation, etc. To calculate real GDP, the BEA starts with a reference year. Data. GDP (current US$) - United States from The World Bank: Data. Find Out   You'll notice that nominal and real GDP are the same in 2012. Drawbacks of PPP is … Real GDP shows what GDP would have been in each year if it were priced in 2012 dollars. China is followed by United States with figure 21.4 trillion. After adjusting for PPP, the United States, Japan, Germany, France, Italy, South Korea, Spain, and the U.K. all slip from their previous positions. Note: These data form the basis for the country weights used to generate the World Economic Outlook country group composites for the domestic economy. 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. Try our corporate solution for … Real GDP shows what GDP would have been in each year if it were priced in 2012 dollars. If we compare GDP on a Purchasing Power Parity (PPP) basis, China a bigger economy than the US. If you continue to navigate this website beyond this page, cookies will be placed on your browser. For further information see Box A2 in the April 2004 World Economic Outlook, Box 1.2 in the September 2003 World Economic Outlook for a discussion on the measurement of global growth and Box A.1 in the May 2000 World Economic Outlook for a summary of the revised PPP-based weights, and Annex IV of the May 1993 World Economic Outlook. For primary source information, please refer to one of the following sources: the Organization for Economic Cooperation and Development, the World Bank, or the Penn World Tables. United States GDP (Gross Domestic Product) was INT$18,418.13billion for 2019 in PPP terms. International Comparison Program, World Bank | World Development Indicators database, World Bank | Eurostat-OECD PPP Programme. Learn how the World Bank Group is helping countries with COVID-19 (coronavirus). Units: Purchasing power parity; international dollars. $47 million. - … This site uses cookies to optimize functionality and give you the best possible experience. Data. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure.   You'll notice that nominal and real GDP are the same in 2012. 28 economies have gdp (ppp) greater than $1 trillion. The GDP value of the United States represents 17.65 percent of the world economy. Data. To calculate real GDP, the BEA starts with a reference year. International Comparison Program & Purchasing Power Parity, International Household Survey Network (IHSN), Trust Fund for Statistical Capacity Building. The differences between the OER- and PPP-denominated GDP values for most of the wealthy industrialized countries are generally much smaller. The current base year is 2012. PPP exchange rates are relatively stable over time. Find Out, Online tool for visualization and analysis. The use of different national income standards across Europe has an impact on cross-country comparability and in some cases leads to an underestimation of GDP. Find Out . Find Out . If you continue to navigate this website beyond this page, cookies will be placed on your browser. CSV XML EXCEL. Find Out . Find Out . GDP, PPP (current international $) from The World Bank: Data. WEO weights have been created from primary sources and are used solely for purposes of generating country group composites. GDP per capita (current US$) from The World Bank: Data. See also Anne Marie Gulde and Marianne Schulze-Ghattas, Purchasing Power Parity Based Weights for the World Economic Outlook, in Staff Studies for the World Economic Outlook (Washington: IMF, December 1993), pp. In GDP per capita terms, China is nearly 40 years behind the US. Source: CIA World Factbook - This page was last updated on December 7, 2019, Variable: Gross domestic product, current prices. {"2005":1462533482.44, "2006":1501424024.41, "2007":1530059383.06, "2008":1524565119.12, "2009":1477165452.28, "2010":1512319429.16, "2011":1539546300.66, "2012":1573785810.39, "2013":1600178198.43, "2014":1638252049.57, "2015":1685450091.12, "2016":1711861094.05, "2017":1749813054.50, "2018":1799805213.47, "2019":1841812667.15}, [{"1871":164.73, "1872":171.46, "1873":180.06, "1874":178.94, "1875":188.29, "1876":190.53, "1877":196.70, "1878":204.93, "1879":230.17, "1880":257.28, "1881":266.44, "1882":283.46, "1883":290.38, "1884":295.61, "1885":297.85, "1886":306.83, "1887":320.66, "1888":319.17, "1889":338.99, "1890":343.85, "1891":358.76, "1892":393.56, "1893":374.51, "1894":363.74, "1895":407.65, "1896":399.36, "1897":437.48, "1898":446.59, "1899":487.19, "1900":500.45, "1901":556.79, "1902":562.59, "1903":589.93, "1904":582.47, "1905":625.56, "1906":697.64, "1907":708.41, "1908":650.42, "1909":729.96, "1910":737.41, "1911":761.44, "1912":797.07, "1913":828.55, "1914":764.76, "1915":786.30, "1916":894.84, "1917":872.47, "1918":951.18, "1919":959.47, "1920":950.35, "1921":928.81, "1922":980.18, "1923":1109.43, "1924":1143.41, "1925":1169.92, "1926":1246.15, "1927":1258.57, "1928":1272.66, "1929":1350.54, "1930":1230.40, "1931":1135.95, "1932":985.98, "1933":965.27, "1934":1039.84, "1935":1119.38, "1936":1278.46, "1937":1333.14, "1938":1280.12, "1939":1382.03, "1940":1488.91, "1941":1759.85, "1942":2111.99, "1943":2532.06, "1944":2744.17, "1945":2633.98, "1946":2090.44, "1947":2058.96, "1948":2136.84, "1949":2145.13, "1950":2331.55, "1951":2509.10, "1952":2602.72, "1953":2722.39, "1954":2704.51, "1955":2895.59, "1956":2952.17, "1957":3007.59, "1958":2977.21, "1959":3198.16, "1960":3251.66, "1961":3327.42, "1962":3529.06, "1963":3683.34, "1964":3896.47, "1965":4146.63, "1966":4416.90, "1967":4528.53, "1968":4747.76, "1969":4895.25, "1970":4904.56, "1971":5074.16, "1972":5354.35, "1973":5670.85, "1974":5641.40, "1975":5630.34, "1976":5935.43, "1977":6210.73, "1978":6560.17, "1979":6766.67, "1980":6747.24, "1981":6918.70, "1982":6781.69, "1983":7087.95, "1984":7597.92, "1985":7910.34, "1986":8181.45, "1987":8440.56, "1988":8786.63, "1989":9099.87, "1990":9268.78, "1991":9244.56, "1992":9559.32, "1993":9833.92, "1994":10238.54, "1995":10499.52, "1996":10897.03, "1997":11388.03, "1998":11889.26, "1999":12468.14, "2000":12988.46, "2001":13130.48, "2002":13370.50, "2003":13711.80, "2004":14188.94, "2005":14625.33, "2006":15014.24, "2007":15300.59, "2008":15245.65, "2009":14771.65, "2010":15123.19, "2011":15395.46, "2012":15737.86, "2013":16001.78, "2014":16382.52, "2015":16854.50, "2016":17118.61, "2017":17498.13, "2018":17998.05, "2019":18418.13}], {"1971":3.5, "1972":5.5, "1973":5.9, "1974":-0.5, "1975":-0.2, "1976":5.4, "1977":4.6, "1978":5.6, "1979":3.1, "1980":-0.3, "1981":2.5, "1982":-2.0, "1983":4.5, "1984":7.2, "1985":4.1, "1986":3.4, "1987":3.2, "1988":4.1, "1989":3.6, "1990":1.9, "1991":-0.3, "1992":3.4, "1993":2.9, "1994":4.1, "1995":2.5, "1996":3.8, "1997":4.5, "1998":4.4, "1999":4.9, "2000":4.2, "2001":1.1, "2002":1.8, "2003":2.6, "2004":3.5, "2005":3.1, "2006":2.7, "2007":1.9, "2008":-0.4, "2009":-3.1, "2010":2.4, "2011":1.8, "2012":2.2, "2013":1.7, "2014":2.4, "2015":2.9, "2016":1.6, "2017":2.2, "2018":2.9, "2019":2.3}.