GDP (Nominal) vs GDP (PPP)

Source	IMF World Economic Outlook (October-2019)
Date	28 Nov 2019

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GDP (Gross Domestic Product) is the total market value of all final goods and services produced in a country in a given period. Each country reports its data in its own currency. To compare the data, each country's statistics must be converted into a common currency. The two most common methods to convert GDP into a common currency are nominal and purchasing power parity (PPP).

Nominal GDP estimates are commonly used to determine the economic performance of a whole country or region, and to make international comparisons. It is the original concept of GDP. In Nominal method, market exchange rates are used for conversion. It does not take into account differences in the cost of living in different countries. Fluctuations in the exchange rates of the country's currency may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population.

PPP basis arguably more useful when comparing differences in living standards between nations. A haircut in New York is more expensive than in Lima; the price of a taxi ride of the same distance is higher in Paris than in Tunis; and a ticket to a cricket game costs more in London than in Lahore. PPP is an exchange rate at which the currency of one country is converted into that of the second country in order to purchase the same volume of goods and services in both countries. If a hamburger is selling in London for £2 and in New York for $4, this would imply a PPP exchange rate of 1 pound to 2 U.S. dollars. PPP exchange rates are relatively stable over time. Drawbacks of PPP is that PPP is harder to measure than nominal.

Out of 192 countries/economies, 179 have higher GDP in PPP basis and 12 have higher in nominal. For United States both are identical.

South Sudan has highest difference between PPP and nominal gdp calculation. GDP (PPP) of South Sudan is 5.82 times greater than GDP (nominal). South Sudan is followed by Sudan (5.70) and Myanmar (5.39) having ppp to nominal ratio above five. Five countries have this ratio between 4-5 and 34 economies has higher ppp values by above 3 times. This value is lowest for Switzerland (0.79).

There is a large gap between nominal and PPP based GDP in emerging market and developing countries. But for advanced countries, difference is much closer. Out of 12 economies which have ppp to nominal ratio is less than one (i.e, ppp value is less than nominal), 6 are among 11 richest and 8 are among 21 richest economies in nominal basis.

Nominal vs PPP
Rank	Country/Economy	PPP/Nom	GDP (2019)				GDP per capita (2019)
			Nominal (B of $)		PPP (B of Int. $)		Nominal ($)		PPP (Int. $)
			Nominal	Rank	PPP	Rank	Nominal	Rank	PPP	Rank
8	Afghanistan	4.083	18.734	116	76.486	100	513	183	2,095	176
68	Albania	2.604	15.418	122	40.151	122	5,373	102	13,991	98
10	Algeria	3.944	172.781	55	681.396	36	3,980	118	15,696	88
95	Angola	2.223	91.527	65	203.433	67	3,038	133	6,752	133
136	Antigua and Barbuda	1.620	1.688	174	2.735	174	18,109	49	29,346	56
105	Argentina	2.028	445.469	29	903.542	29	9,888	71	20,055	73
76	Armenia	2.448	13.444	130	32.909	131	4,528	109	11,083	111
141	Aruba	1.546	2.903	165	4.487	168	25,976	37	40,148	37
174	Austria	1.071	447.718	27	479.364	45	50,023	14	53,558	21
9	Azerbaijan	3.970	47.171	89	187.260	74	4,689	107	18,616	78
106	Bahrain	2.015	38.184	97	76.951	98	25,273	38	50,931	23
62	Bangladesh	2.638	317.465	41	837.588	30	1,906	149	5,028	143
176	Barbados	1.047	5.189	154	5.434	167	18,069	50	18,921	77
30	Belarus	3.126	62.572	77	195.599	71	6,604	89	20,644	69
171	Belgium	1.096	517.609	25	567.488	38	45,176	20	49,529	25
127	Belize	1.759	2.001	171	3.520	172	4,925	105	8,664	123
45	Benin	2.833	14.374	127	40.717	119	1,217	163	3,446	159
39	Bhutan	2.885	2.842	166	8.199	159	3,423	126	9,876	112
94	Bolivia	2.226	42.401	93	94.392	91	3,671	123	8,172	126
74	Bosnia and Herzegovina	2.477	20.106	114	49.794	110	5,742	97	14,220	95
83	Botswana	2.361	18.690	117	44.133	117	7,859	83	18,558	80
120	Brazil	1.871	1,847.020	9	3,456.360	8	8,797	77	16,462	86
40	Brunei Darussalam	2.884	12.455	137	35.920	125	27,871	34	80,384	6
69	Bulgaria	2.584	66.250	75	171.185	76	9,518	73	24,595	64
38	Burkina Faso	2.893	14.593	125	42.222	118	718	178	2,077	177
85	Burundi	2.346	3.573	161	8.384	158	310	191	727	191
99	Cabo Verde	2.149	2.013	170	4.325	169	3,599	124	7,729	129
42	Cambodia	2.878	26.730	106	76.934	99	1,621	152	4,664	145
67	Cameroon	2.611	38.632	96	100.884	87	1,515	154	3,955	152
170	Canada	1.098	1,730.910	10	1,899.940	16	46,213	19	50,725	24
125	Central African Republic	1.836	2.321	168	4.262	170	448	187	823	190
41	Chad	2.880	11.026	141	31.760	133	861	171	2,481	169
131	Chile	1.709	294.237	43	502.846	43	15,399	59	26,317	62
111	China	1.931	14,140.160	2	27,308.860	1	10,099	70	19,504	74
80	Colombia	2.388	327.895	40	783.002	32	6,508	90	15,541	89
102	Comoros	2.075	1.179	180	2.446	176	1,350	158	2,799	164
144	Costa Rica	1.501	61.021	79	91.611	92	12,015	63	18,038	81
123	Croatia	1.855	60.702	80	112.589	84	14,950	60	27,729	60
146	Cyprus	1.494	24.280	108	36.268	124	27,720	35	41,407	34
134	Czech Republic	1.673	246.953	47	413.119	47	23,214	41	38,834	40
63	Côte d'Ivoire	2.635	44.439	91	117.110	82	1,691	151	4,457	146
132	Democratic Republic of the Congo	1.696	48.994	88	83.112	94	501	184	849	189
116	Djibouti	1.896	3.166	163	6.004	166	2,936	134	5,568	139
151	Dominica	1.432	0.593	185	0.849	184	8,381	80	12,008	107
92	Dominican Republic	2.249	89.475	67	201.266	69	8,629	79	19,411	75
118	Ecuador	1.879	107.914	61	202.773	68	6,249	93	11,743	108
5	Egypt	4.603	302.256	42	1,391.260	19	3,047	132	14,023	96
103	El Salvador	2.074	26.871	105	55.731	108	4,008	117	8,313	125
82	Equatorial Guinea	2.386	12.142	138	28.970	136	8,927	76	21,300	67
31	Eritrea	3.093	2.110	169	6.526	163	343	190	1,060	188
142	Estonia	1.524	31.038	100	47.306	111	23,524	40	35,853	44
59	Eswatini	2.672	4.657	156	12.444	154	4,177	114	11,161	110
64	Ethiopia	2.634	91.166	66	240.168	63	953	167	2,511	168
115	Fiji	1.904	5.708	150	10.868	155	6,380	91	12,147	106
166	France	1.131	2,707.070	7	3,061.140	10	41,761	22	47,223	29
84	Gabon	2.349	16.877	119	39.648	123	8,112	82	19,057	76
44	Georgia	2.851	15.925	120	45.398	115	4,289	113	12,227	105
164	Germany	1.150	3,863.340	4	4,444.370	5	46,564	18	53,567	20
29	Ghana	3.128	67.077	74	209.844	64	2,223	143	6,956	132
143	Greece	1.515	214.012	52	324.128	57	19,974	44	30,252	54
148	Grenada	1.469	1.238	179	1.819	178	11,381	64	16,717	84
117	Guatemala	1.885	81.318	69	153.322	77	4,617	108	8,705	122
73	Guinea	2.488	13.368	131	33.265	130	981	166	2,441	172
70	Guinea-Bissau	2.566	1.397	178	3.585	171	786	174	2,019	178
129	Guyana	1.731	4.121	158	7.135	161	5,252	103	9,094	119
79	Haiti	2.395	8.819	144	21.124	146	784	175	1,878	179
100	Honduras	2.117	24.449	107	51.757	109	2,548	138	5,395	140
159	Hong Kong SAR	1.316	372.989	34	490.880	44	49,334	15	64,928	12
109	Hungary	1.950	170.407	56	332.225	55	17,463	52	34,046	45
11	India	3.858	2,935.570	5	11,325.670	3	2,172	145	8,378	124
19	Indonesia	3.362	1,111.710	16	3,737.480	7	4,164	115	13,998	97
27	Iraq	3.141	224.462	51	705.059	35	5,738	98	18,025	82
173	Ireland	1.072	384.940	33	412.797	48	77,771	5	83,399	5
21	Islamic Republic of Iran	3.208	458.500	26	1,470.660	18	5,506	100	17,662	83
163	Italy	1.228	1,988.640	8	2,442.770	12	32,947	28	40,470	36
126	Jamaica	1.775	15.702	121	27.867	137	5,461	101	9,692	114
168	Japan	1.115	5,154.480	3	5,747.500	4	40,847	24	45,546	31
98	Jordan	2.200	44.172	92	97.161	89	4,387	112	9,649	115
24	Kazakhstan	3.157	170.326	57	537.664	42	9,139	74	28,849	57
110	Kenya	1.940	98.607	64	191.263	73	1,998	146	3,875	153
157	Kiribati	1.359	0.184	191	0.250	189	1,575	153	2,138	175
152	Korea	1.423	1,629.530	12	2,319.590	14	31,431	30	44,740	32
47	Kosovo	2.774	7.996	147	22.179	144	4,442	111	12,322	104
90	Kuwait	2.268	137.591	59	312.100	59	29,267	33	66,387	9
28	Kyrgyz Republic	3.137	8.261	145	25.915	140	1,293	161	4,056	150
34	Lao P.D.R.	3.037	19.127	115	58.091	107	2,670	137	8,110	127
130	Latvia	1.728	35.045	98	60.562	106	18,172	48	31,402	52
139	Lebanon	1.559	58.565	83	91.286	93	9,655	72	15,049	91
55	Lesotho	2.701	2.741	167	7.403	160	1,339	159	3,615	156
107	Liberia	2.008	3.222	162	6.471	164	704	180	1,414	184
121	Libya	1.864	33.018	99	61.559	105	5,020	104	9,358	117
114	Lithuania	1.905	53.641	86	102.179	86	19,267	46	36,701	42
153	Macao SAR	1.409	55.136	84	77.700	97	81,152	3	114,363	2
13	Madagascar	3.663	12.550	135	45.974	114	464	186	1,699	181
20	Malawi	3.346	7.522	148	25.167	142	371	189	1,240	186
36	Malaysia	2.952	365.303	35	1,078.540	26	11,137	67	32,881	49
145	Maldives	1.498	5.786	149	8.667	157	15,563	58	23,312	66
58	Mali	2.674	17.647	118	47.181	113	924	169	2,471	170
140	Malta	1.547	14.859	124	22.982	143	30,650	31	47,405	27
16	Mauritania	3.506	5.651	151	19.811	148	1,392	156	4,881	144
97	Mauritius	2.200	14.391	126	31.663	134	11,361	65	24,996	63
104	Mexico	2.062	1,274.180	15	2,627.850	11	10,118	69	20,868	68
86	Moldova	2.334	11.688	139	27.282	139	3,300	128	7,703	130
17	Mongolia	3.462	13.637	129	47.217	112	4,133	116	14,309	94
88	Montenegro	2.308	5.424	153	12.516	153	8,704	78	20,084	72
48	Morocco	2.761	119.040	60	328.651	56	3,345	127	9,235	118
57	Mozambique	2.690	15.093	123	40.600	120	484	185	1,303	185
3	Myanmar	5.389	65.994	76	355.609	52	1,245	162	6,707	134
112	Namibia	1.928	14.368	128	27.707	138	5,842	96	11,266	109
172	Nauru	1.083	0.108	192	0.117	191	8,270	81	8,999	121
23	Nepal	3.167	29.813	104	94.419	90	1,048	165	3,318	162
169	Netherlands	1.114	902.355	17	1,005.270	28	52,368	12	58,341	14
178	New Zealand	1.008	204.671	53	206.225	65	40,634	25	40,943	35
49	Nicaragua	2.756	12.528	136	34.531	126	1,919	148	5,290	141
50	Niger	2.730	9.443	143	25.780	141	405	188	1,106	187
51	Nigeria	2.725	446.543	28	1,216.800	24	2,222	144	6,055	137
54	North Macedonia	2.704	12.672	133	34.267	127	6,096	95	16,486	85
60	Oman	2.662	76.609	70	203.959	66	17,791	51	47,366	28
135	Panama	1.651	68.536	73	113.156	83	16,245	57	26,822	61
150	Papua New Guinea	1.452	23.587	112	34.257	128	2,742	135	3,983	151
81	Paraguay	2.386	40.714	94	97.163	88	5,692	99	13,584	101
101	Peru	2.089	228.989	50	478.303	46	7,047	88	14,719	92
43	Philippines	2.875	356.814	38	1,025.760	27	3,294	129	9,471	116
89	Poland	2.274	565.854	22	1,286.920	23	14,902	61	33,891	46
149	Portugal	1.462	236.408	49	345.572	54	23,031	42	33,665	47
162	Puerto Rico	1.270	99.913	63	126.934	80	31,538	29	40,067	38
113	Qatar	1.907	191.849	54	365.835	51	69,688	6	132,886	1
46	Republic of Congo	2.831	11.576	140	32.768	132	2,534	140	7,174	131
93	Romania	2.243	243.698	48	546.586	41	12,483	62	27,998	59
61	Russia	2.656	1,637.890	11	4,349.420	6	11,163	66	29,642	55
35	Rwanda	2.972	10.209	142	30.346	135	825	173	2,452	171
156	Samoa	1.367	0.905	183	1.237	182	4,501	110	6,152	136
161	San Marino	1.302	1.591	176	2.072	177	47,280	17	61,575	13
77	Saudi Arabia	2.436	779.289	18	1,898.510	17	22,865	43	55,704	16
56	Senegal	2.698	23.940	110	64.600	104	1,428	155	3,853	155
72	Serbia	2.510	51.523	87	129.298	79	7,398	87	18,564	79
122	Seychelles	1.859	1.644	175	3.056	173	17,052	53	31,693	51
32	Sierra Leone	3.093	4.229	157	13.079	150	547	182	1,690	182
137	Singapore	1.613	362.818	36	585.055	37	63,987	9	103,181	4
119	Slovak Republic	1.874	106.552	62	199.722	70	19,548	45	36,640	43
147	Slovenia	1.470	54.154	85	79.591	96	26,170	36	38,462	41
177	Solomon Islands	1.025	1.440	177	1.476	180	2,247	142	2,303	173
91	South Africa	2.255	358.839	37	809.034	31	6,100	94	13,754	100
1	South Sudan	5.823	3.681	160	21.435	145	275	192	1,602	183
154	Spain	1.388	1,397.870	13	1,940.540	15	29,961	32	41,592	33
15	Sri Lanka	3.521	86.566	68	304.826	60	3,947	119	13,897	99
133	St. Kitts and Nevis	1.675	1.032	181	1.729	179	18,246	47	30,578	53
160	St. Lucia	1.308	1.992	172	2.606	175	11,076	68	14,492	93
138	St. Vincent and the Grenadines	1.606	0.856	184	1.375	181	7,751	86	12,454	103
2	Sudan	5.700	30.873	101	175.987	75	714	179	4,072	149
75	Suriname	2.461	3.774	159	9.289	156	6,311	92	15,532	90
175	Sweden	1.066	528.929	24	563.882	40	51,242	13	54,628	18
128	São Tomé and Príncipe	1.751	0.430	187	0.753	185	1,933	147	3,387	161
96	Taiwan Province of China	2.218	586.104	21	1,300.210	22	24,828	39	55,078	17
7	Tajikistan	4.091	8.152	146	33.351	129	877	170	3,589	157
33	Tanzania	3.080	62.224	78	191.631	72	1,105	164	3,402	160
65	Thailand	2.614	529.177	23	1,383.020	20	7,792	85	20,365	71
179	The Bahamas	1.002	12.664	134	12.691	151	33,261	27	33,333	48
14	The Gambia	3.637	1.773	173	6.448	165	755	177	2,745	165
87	Timor-Leste	2.322	2.938	164	6.823	162	2,263	141	5,254	142
53	Togo	2.719	5.502	152	14.962	149	671	181	1,826	180
158	Tonga	1.332	0.488	186	0.650	186	4,862	106	6,486	135
108	Trinidad and Tobago	1.999	22.607	113	45.193	116	16,366	56	32,715	50
12	Tunisia	3.852	38.732	95	149.190	78	3,287	130	12,661	102
25	Turkey	3.155	743.708	19	2,346.580	13	8,958	75	28,264	58
66	Turkmenistan	2.611	46.674	90	121.885	81	7,816	84	20,411	70
167	Tuvalu	1.119	0.042	193	0.047	192	3,835	121	4,277	147
18	Uganda	3.416	30.666	102	104.756	85	770	176	2,631	167
52	Ukraine	2.721	150.401	58	409.257	50	3,592	125	9,775	113
124	United Arab Emirates	1.839	405.771	31	746.350	34	37,750	26	69,435	8
165	United Kingdom	1.141	2,743.590	6	3,131.200	9	41,030	23	46,827	30
180	United States	1.000	21,439.450	1	21,439.450	2	65,112	8	65,112	11
155	Uruguay	1.385	59.918	82	82.969	95	17,029	54	23,581	65
4	Uzbekistan	4.914	60.490	81	297.222	61	1,832	150	9,000	120
37	Vietnam	2.944	261.637	46	770.227	33	2,740	136	8,066	128
78	Yemen	2.417	29.855	103	72.171	102	943	168	2,280	174
22	Zambia	3.174	23.946	109	75.996	101	1,307	160	4,148	148
26	Zimbabwe	3.142	12.818	132	40.274	121	860	172	2,702	166
181	Australia	0.992	1,376.260	14	1,364.840	21	53,825	11	53,379	22
190	Denmark	0.901	347.176	39	312.842	58	59,795	10	53,882	19
184	Finland	0.982	269.654	45	264.720	62	48,869	16	47,975	26
191	Iceland	0.836	23.918	111	20.003	147	67,037	7	56,066	15
188	Israel	0.914	387.717	32	354.197	53	42,823	21	39,121	39
186	Luxembourg	0.962	69.453	72	66.848	103	113,196	1	108,951	3
182	Marshall Islands	0.986	0.220	190	0.217	190	3,925	120	3,868	154
187	Micronesia	0.958	0.381	188	0.365	187	3,718	122	3,562	158
183	Norway	0.983	417.627	30	410.713	49	77,975	4	76,684	7
185	Palau	0.969	0.291	189	0.282	188	16,736	55	16,235	87
192	Switzerland	0.791	715.360	20	565.646	39	83,717	2	66,196	10
189	Vanuatu	0.906	0.951	182	0.862	183	3,260	131	2,957	163
71	Somalia	2.553	4.958	155	12.66	152	-	-	-	-
6	Pakistan	4.230	284.214	44	1202.09	25	1,388	157	5,872	138
	Syria	-	-	-	-	-	-	-	-	-
	World	1.638	86,599		141,860		11,464		18,779