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GDP (Nominal) vs GDP (PPP)

Source International Monetary Fund World Economic Outlook (October-2023)
Date09 Jan 2024
Top Statistics
IPL 2025
List of continents by gdp per capita
Top 10 largest economies by GDP
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  • » Countries by GDP (nominal)
  • » Countries by GDP (PPP)
  • » Countries by GDP (Nominal) per capita
  • » Countries by GDP (PPP) per capita
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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 the 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 country's currency exchange rates 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 is 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 one country's currency is converted into that of the second country 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 will imply a PPP exchange rate of 1 pound to 2 U.S. dollars. PPP exchange rates are relatively stable over time. The drawback of PPP is that PPP is harder to measure than nominal.

Out of 195 countries/economies, 182 have higher GDP on a PPP basis, and 12 have higher nominal. For the United States, both are identical.

Sudan has the highest difference between PPP and nominal gdp calculation. GDP (PPP) of Sudan is 6.039 times greater than GDP (nominal). Eight countries have ppp to the nominal ratio between 4-5, and 24 economies have higher ppp values above three times. This value is the lowest for Norway (0.737).

There is a large gap between nominal and PPP-based GDP in emerging markets and developing countries. But for advanced countries, the difference is much closer. Out of 33 economies with a ratio above 3, 30 have gdp (nominal) per capita below $6000. Out of 12 economies with a ppp to a nominal ratio of less than one (i.e., ppp value is less than nominal), three are among the ten richest, and five are among the 20 richest economies. Remaining seven are small economies ranked below 150. Among the top 33 richest, none have a ppp to nominal ratio above 2.

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GDP (Nominal) vs GDP (PPP)
Rank Country/Economy PPP/Nom GDP (2022) GDP per capita (2022)
Nominal (B of $) PPP (B of Int. $) Nominal ($) PPP (Int. $)
NominalRankPPPRank NominalRankPPPRank
5Afghanistan 4.46213.30114159.3441123281941,462191
23Eritrea 3.2052.3831727.6371646521862,091181
126West Bank and Gaza 1.81718.75412634.0781383,6141326,364144
59Albania2.72819.08312452.0661186,6589718,16490
35Algeria2.995195.06056584.271434,30712012,900112
143Andorra1.6103.3521675.39717141,0852566,15518
107Angola2.020122.78161247.977673,4381366,944137
160Antigua and Barbuda1.3521.7581782.37618017,4415823,57573
113Argentina1.944630.606231,226.2042913,6206726,48468
61Armenia2.70119.51412152.7151166,5879917,79593
152Aruba1.4633.5451655.18717333,0323348,34138
185Australia0.9571,702.554121,629.3222064,8141062,02622
167Austria1.282471.02633603.6664152,1921666,88916
87Azerbaijan2.29778.72174180.785797,7518817,80092
106Bahrain2.03044.3839390.0969928,7814058,42625
39Bangladesh2.919460.201351,343.253252,7311427,971132
192Barbados0.8825.6851575.01717419,6485317,33995
43Belarus2.88272.83579209.920717,8698622,67975
169Belgium1.269579.05926735.0253749,8431963,26821
147Belize1.5632.9851684.6661756,7579310,564123
27Benin3.10617.43912854.1601151,3031664,048160
11Bhutan3.7862.65316910.0441613,49213513,219111
63Bolivia2.68244.31595118.840933,7051299,936126
70Bosnia and Herzegovina2.62324.52011364.3141107,0609218,51887
83Botswana2.36820.35211948.1941227,7388918,32388
109Brazil1.9991,920.023113,837.21589,4558318,89783
122Brunei Darussalam1.86516.68213131.10414237,8512670,57612
86Bulgaria2.30589.11571205.4047313,8216631,85761
29Burkina Faso3.06518.93412558.0251138321792,549177
54Burundi2.7523.91816310.782160311195856194
88Cabo Verde2.2892.3081735.2821724,0481249,263129
25Cambodia3.11528.81810889.7631001,8021575,613149
51Cameroon2.79144.32294123.683921,5881614,431156
179Canada1.0602,137.93992,265.3201655,0371358,31626
95Central African Republic2.2022.4631705.4241704911921,081193
79Chad2.48212.09614630.0261466951831,724186
116Chile1.927300.72946579.4094415,1666429,22163
136China1.68917,886.331230,217.113112,6707021,40476
48Colombia2.812343.62244966.152326,6589618,72086
74Comoros2.5971.2371813.2131781,2941673,363165
118Costa Rica1.91268.37385130.7348913,0756825,00070
96Croatia2.19270.54882154.6558218,3055740,12850
142Cyprus1.64628.46110946.84112431,4593851,77434
129Czech Republic1.787290.52847519.2384626,8324347,95539
71Côte d'Ivoire2.62370.18084184.048782,4731446,486143
105Democratic Republic of the Congo2.07365.78487136.349866801841,409192
182Denmark1.044401.12540418.9635368,295971,33210
127Djibouti1.8043.6621646.6071673,6041336,502142
146Dominica1.5710.6271870.9851868,4628513,293109
93Dominican Republic2.252113.87367256.3906510,7117624,11772
108Ecuador2.006115.04964230.808686,38910012,818114
17Egypt3.526475.231321,675.593184,58711916,17497
98El Salvador2.16432.48910270.3161075,12711111,097120
80Equatorial Guinea2.47911.76714729.1651477,8548719,46581
145Estonia1.58637.9519960.19911128,1364244,63042
65Eswatini2.6704.83716012.9131584,20212111,217119
37Ethiopia2.970120.36962357.506571,1561713,435163
58Fiji2.7314.98015813.6001565,47410814,950101
175Finland1.145283.12448324.2695951,0301858,44524
162France1.3302,780.13673,696.2431042,3502456,30527
123Gabon1.86321.11711739.3481329,7718118,20689
33Georgia3.03524.60611274.6701036,6719520,24379
163Germany1.3144,085.68145,370.287548,7562064,08620
34Ghana2.99872.24380216.618702,2521506,752139
128Greece1.790219.23855392.5145520,9605037,52657
131Grenada1.7621.2161822.14218110,6957718,84385
111Guatemala1.97795.00469187.778775,09811210,076125
97Guinea2.18620.30412044.3901251,3841643,025170
22Guinea-Bissau3.2141.7181795.5211699061762,911171
85Guyana2.32714.52913733.80314018,3535542,69944
125Haiti1.85720.53511838.1421361,7021593,161167
94Honduras2.23131.52310470.3301063,0621406,832138
156Hong Kong SAR1.410359.83942507.2384748,1542167,88014
90Hungary2.267180.01357408.1115418,5795442,12146
191Iceland0.90128.06511025.27515174,591867,17615
18India3.5113,389.689511,900.71432,3921468,398131
30Indonesia3.0611,318.806164,036.85274,79811614,687102
115Iraq1.933261.14049504.746486,18110211,948118
168Ireland1.281533.55927683.58040103,3113132,3592
2Islamic Republic of Iran4.666346.479431,616.542214,04312518,86584
186Israel0.957525.00328502.3304954,3371451,99031
150Italy1.5212,012.014103,059.3371334,0853151,82733
110Jamaica1.98517.00313033.7501416,19810112,302116
153Japan1.4504,237.52836,144.602433,8543249,09036
73Jordan2.61347.51991124.178914,61311712,055117
64Kazakhstan2.675225.52954603.3444211,4097430,52362
57Kenya2.739113.70168311.473612,2451516,151145
170Kiribati1.2460.2241930.2791911,8221562,271180
140Korea1.6611,673.917132,780.2871432,4183553,84530
55Kosovo2.7499.43715225.9421505,33211014,658103
155Kuwait1.420175.39958249.0036636,0922851,23835
15Kyrgyz Republic3.56711.67214841.6351261,7181586,127146
4Lao P.D.R.4.49815.30413468.8421082,0471549,207130
130Latvia1.78541.1679773.46710421,9474739,16753
14Lebanon3.59221.78011678.2331013,92212714,086107
66Lesotho2.6522.4631716.5311681,1661703,092168
92Liberia2.2563.9741628.9651637491801,690187
12Libya3.78437.796100143.021855,57710721,10478
121Lithuania1.88570.39083132.6948824,9894447,10741
176Luxembourg1.11681.7067291.21698126,5981141,3331
132Macao SAR1.75021.97911538.47313431,5393755,20928
19Madagascar3.47515.14913552.6361175231911,817185
45Malawi2.86912.53714535.9631375671901,628188
50Malaysia2.794407.027361,137.4003112,4667134,83458
103Maldives2.1096.23815513.15615715,9626133,66359
38Mali2.96719.17112256.8801148471772,514178
135Malta1.70618.14012730.95014334,8192959,40823
187Marshall Islands0.9430.2611910.2461935,8401035,497150
26Mauritania3.1139.90315130.8291442,2851487,113135
67Mauritius2.63412.89814233.96913910,2277926,93467
104Mexico2.0901,465.854143,064.0001211,2667523,54874
189Micronesia0.9150.4241900.3881904,0391263,693162
56Moldova2.74414.55013639.9181305,72610415,71099
46Mongolia2.82517.14612948.4451204,95411413,996108
68Montenegro2.6346.10915616.0891559,8208025,86269
53Morocco2.773130.91360363.011563,5701349,900127
78Mozambique2.52819.15712348.4251215811891,469190
10Myanmar3.94866.15686261.169641,2281694,847154
89Namibia2.28312.60214428.7651484,85411511,080121
190Nauru0.9010.1521940.13719412,0897310,930122
16Nepal3.53540.82898144.337841,3541654,787155
172Netherlands1.2321,010.193181,244.1482857,4281170,72811
178New Zealand1.100242.02452266.2966347,2262251,96232
32Nicaragua3.04815.67113247.7681232,3721477,229134
77Niger2.56315.44813339.5961315921871,518189
62Nigeria2.683477.376311,280.700272,2021535,909147
31North Macedonia3.05013.59313941.4561276,6009820,12980
195Norway0.737579.42225427.14452105,826278,0148
139Oman1.665114.66766190.9417623,2404638,69956
9Pakistan4.057374.658411,520.020231,6501606,695140
181Palau1.0450.2461920.25719213,9416514,515106
91Panama2.26376.52377173.1668017,4105939,39751
171Papua New Guinea1.24031.53310339.1111332,6221433,252166
75Paraguay2.59741.72296108.337955,59810614,535105
99Peru2.139244.59451523.100457,1599015,310100
40Philippines2.896404.284391,170.968303,62413110,495124
82Poland2.378690.680221,642.6141918,3435643,62443
133Portugal1.740252.13050438.6235124,5404542,69245
177Puerto Rico1.115115.01765128.2669036,1232740,28548
165Qatar1.307236.41553308.9896283,5215109,1604
124Republic of Congo1.85913.96113825.9541492,8381415,276152
81Romania2.446301.27345737.0023615,8216238,70355
101Russia2.1252,244.24984,769.827615,6466333,25360
41Rwanda2.89113.30914038.4701351,0051742,904172
154Samoa1.4200.8331861.1831854,1431225,883148
151San Marino1.5181.7851772.71017952,4471579,6337
114Saudi Arabia1.9411,108.149172,150.4601734,4413066,83617
69Senegal2.62327.74411172.7761051,5701624,117158
76Serbia2.57863.50288163.707819,5288224,56471
112Seychelles1.9551.9771763.86617619,9835239,07954
8Sierra Leone4.1873.98716116.6951544801932,009183
148Singapore1.540466.78934719.0753882,8086127,5633
120Slovak Republic1.891115.56063218.5346921,2634840,21149
134Slovenia1.70960.11189102.7399628,5274148,75737
180Solomon Islands1.0551.5911801.6781832,2051522,325179
42Somalia2.88810.42015030.0971456671851,928184
84South Africa2.353405.10638953.209336,6849415,72898
194South Sudan0.7808.5351536.658166585188456195
144Spain1.6011,418.916152,271.7461529,8003947,71140
6Sri Lanka4.26974.84678319.523603,43313714,657104
138St. Kitts and Nevis1.6760.9661841.61918416,5666027,76766
157St. Lucia1.4042.2971743.22517712,7046917,84091
119St. Vincent and the Grenadines1.8990.9471851.7981828,5398416,21696
1Sudan6.03933.752101203.828747231814,366157
28Suriname3.0763.51016610.7981595,68710517,49894
174Sweden1.176591.18924695.3793956,1881266,09119
188Switzerland0.921818.47120753.8463593,657486,2625
137São Tomé and Príncipe1.6840.5481880.9231882,4131454,067159
102Taiwan Province of China2.120760.460211,611.9962232,6873469,29013
3Tajikistan4.63310.49314948.6151191,0671734,943153
60Tanzania2.70977.06576208.759721,2531683,394164
36Thailand2.992495.424301,482.437247,0709121,15477
166The Bahamas1.30112.89714316.78015332,2993642,02347
24The Gambia3.1722.1611756.8551658421782,670174
117Timor-Leste1.9184.9041599.4071623,6821307,064136
47Togo2.8218.14415422.9721529201752,594176
161Tonga1.3410.4981890.6681894,9781136,686141
159Trinidad and Tobago1.36730.05310641.08012921,2534929,05064
20Tunisia3.32946.36192154.323833,82212812,723115
149Turkmenistan1.53777.25275118.7399412,3807219,02882
184Tuvalu0.9830.0591950.0581955,4521095,376151
13Türkiye3.701905.841193,352.6971110,6227839,31452
52Uganda2.77548.24490133.892871,1031723,062169
49Ukraine2.797160.50159448.954504,60711812,886113
141United Arab Emirates1.647507.06429835.1493451,4001784,6576
173United Kingdom1.2063,081.87163,716.621945,4612354,82429
183United States1.00025,462.725125,462.725276,343776,3439
158Uruguay1.38771.1778198.7199720,0225127,77065
7Uzbekistan4.22680.41873339.812582,2801499,634128
193Vanuatu0.8701.0731830.9331873,3251392,890173
100Venezuela2.13492.10470196.547753,4221387,302133
21Vietnam3.251406.452371,321.240264,08712313,284110
44Yemen2.88023.54811467.8201097071822,035182
72Zambia2.62129.74210777.9481021,4861633,894161
164Zimbabwe1.30731.49010541.1681281,9911552,603175
Syria--- ---- --
World 1.637100,149.060 163,896.546 12,834 21,003
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