List of countries by GDP (PPP)
GDP PPP means gross domestic product based on purchasing power parity. This article includes the list of countries by their forecast estimated GDP PPP. Countries are sorted by GDP PPP forecast estimates from financial and statistical institutions that calculate using market or government official exchange rates. a data precondition on this page are based on the international dollar, a standardized member used by economists.regions that are not widely considered countries such(a) as the European Union together with Hong Kong also show up in the list whether 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 live 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 however limited when measuring financial flows between countries and when comparing the quality 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 attempt to estimate a exemplification basket of all goods.
The number one table includes estimates for the year 2020 offered for each 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 modernization 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 forwarded in the list in cases in which theyin the sources. These economies are non ranked in the charts here, but are intended 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 fundamental 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.