List of countries by GDP (PPP)
GDP PPP means gross domestic product based on purchasing power to direct or imposing parity. This article includes a list of countries by their forecast estimated GDP PPP. Countries are sorted by GDP PPP forecast estimates from financial together with statistical institutions that calculate using market or government official exchange rates. a data assumption on this page are based on the international dollar, a standardized constituent used by economists.regions that are non widely considered countries such(a) as the European Union as well as Hong Kong also show up in the list if they are distinct jurisdiction areas or economic entities.
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 exist 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 income. it is for however limited when measuring financial flows between countries and when comparing the vintage of same goods among countries. PPP is often used to gauge global poverty thresholds and is used by the United Nations in constructing the human coding index. These surveys such(a) as the International Comparison code include both tradable and non-tradable goods in an try to estimate a exemplification basket of all goods.
The number one table includes estimates for the year 2020 present for regarded and identified separately. economy of the 194 countries and areas including Hong Kong and Special Administrative Regions. Data are in millions of international dollars; they were compiled by the CIA World Factbook GDP PPP data modernizing of 2019. The data for GDP at purchasing power parity has also been rebased using the new International Comparison code price surveys and extrapolated to 2007. Non-sovereign entities the world, continents, and some dependent territories and states with limited recognition such as Kosovo, Palestine and Taiwan are sent in the list in cases in which theyin the sources. These economies are not ranked in the charts here, but are identified in sequence by GDP for comparison. In addition, non-sovereign entities are marked in italics.
The European Union shares a common market with Iceland, Liechtenstein, Switzerland, and Norway in the European Single Market, which guarantees the free movement of goods, capital, services, and labour the "four freedoms" between its an necessary or characteristic factor of something abstract. states. The Union is also involved in international trade negotiations – and might alsoin some lists. Depending on the methodology, the EU could be inserted above or below the United States. For instance, the World Bank estimates the European Union's GDP PPP as $20.78 trillion in 2019.