GDP (Nominal) vs GDP (PPP)

Source International Monetary Fund World Economic Outlook (October-2020)
Date11 Mar 2021

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 194 countries/economies, 182 have higher GDP on a PPP basis, and 11 have higher nominal. For the United States, both are identical.

Sudan has the highest difference between PPP and nominal gdp calculation. GDP (PPP) of South Sudan is 5.1 times greater than GDP (nominal). Five countries have ppp to the nominal ratio between 4-5, and 37 economies have higher ppp values above three times. This value is the lowest for Switzerland (0.835).

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 37 economies with a ratio above 3, 34 have gdp (nominal) per capita below $6000. Out of 11 economies with a ppp to a nominal ratio of less than one (i.e., ppp value is less than nominal), five are among the ten richest, and six are among the 20 richest economies. Among the top 20 richest, none have a ppp to nominal ratio above 2.

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GDP (Nominal) vs GDP (PPP)

Code Rank Country/Economy PPP/Nom GDP (2020) GDP per capita (2020)
Nominal (B of $) PPP (B of Int. $) Nominal ($) PPP (Int. $)
NominalRankPPPRank NominalRankPPPRank
PAK7Pakistan4.095262.797451,076.258231,2601605,160141
VEN27Venezuela3.19748.61086155.383751,7391525,558134
SOM46Somalia2.8344.91815413.938150----
AFG6Afghanistan4.15119.00611278.884974991872,073178
ALB51Albania2.78714.03412939.1131214,8989813,65193
DZA19Algeria3.314147.32357488.291433,33112711,041109
AGO16Angola3.45262.72474216.550642,0211456,978128
ATG160Antigua and Barbuda1.3181.3891781.83017914,1595618,65573
ARG83Argentina2.416382.76031924.539298,4337420,37066
ARM28Armenia3.18312.81313340.7881184,31510313,73591
ABW159Aruba1.3382.2881673.06117320,3104227,16956
AUS186Australia0.9801,334.688131,307.9161851,8851050,84520
AUT169Austria1.139432.89428493.1704248,6341355,40615
AZE13Azerbaijan3.51541.66690146.459774,12510914,49988
BHR105Bahrain2.14434.6249674.24510022,8783849,05723
BGD56Bangladesh2.722317.76841864.883311,8881475,139142
BRB192Barbados0.9064.6301564.19417116,0824914,56886
BLR23Belarus3.22157.70880185.889696,1348919,75968
BEL168Belgium1.144503.41626575.8083743,8141750,11421
BLZ146Belize1.5251.5561742.3731773,7341185,695133
BEN55Benin2.73515.29212141.8251151,2591613,443161
BTN14Bhutan3.5132.5871649.0891603,43112212,058103
BOL74Bolivia2.51138.9389397.784923,3221288,342122
BIH64Bosnia and Herzegovina2.58518.89311448.8391115,7629214,89584
BWA80Botswana2.46315.87212039.0971226,5588716,15381
BRA99Brazil2.2581,363.767123,078.90186,4508814,56387
BRN60Brunei Darussalam2.67410.64713928.47013623,1173661,8168
BGR82Bulgaria2.41667.91771164.095749,8266723,74160
BFA44Burkina Faso2.86516.08211946.0771137691742,203176
BDI41Burundi2.9683.1311629.292159264193783193
CPV110Cabo Verde2.0791.8701713.8871723,3581266,980127
KHM47Cambodia2.82526.31610274.348991,5721544,441149
CMR77Cameroon2.48539.0369296.989931,4931553,710156
CAN170Canada1.1301,600.26491,808.9951542,0801847,56924
CAF113Central African Republic2.0232.3211664.695169480188972191
TCD69Chad2.52810.51014026.5741396401821,618185
CHL125Chile1.860245.41447456.3944412,6126023,45561
CHN142China1.58715,222.155224,162.435110,8396417,20677
COL57Colombia2.715264.93344719.251325,2079514,13790
COM100Comoros2.2531.2001792.7041741,3371583,014163
CRI135Costa Rica1.66059.6457999.0379011,6296319,30969
HRV119Croatia1.97356.76881111.9778314,0335827,68153
CYP149Cyprus1.48923.24610734.62012726,2403439,07936
CZE129Czech Republic1.781241.97548430.8914722,6273940,29333
CIV93Côte d'Ivoire2.35061.50276144.497782,2811405,360138
COD107Democratic Republic of the Congo2.14046.0628898.54991457189978190
DNK185Denmark0.989339.62638335.8055358,439757,78112
DJI136Djibouti1.6503.4081615.6241663,0741325,074143
DMA143Dominica1.5690.5451860.8551857,7097912,083102
DOM70Dominican Republic2.52377.88367196.493677,4458118,78372
ECU117Ecuador1.99793.07865185.913685,3169310,617112
EGY11Egypt3.572361.875341,292.478193,56112012,71996
SLV104El Salvador2.19924.78410354.4881093,8211178,401121
GNQ76Equatorial Guinea2.49410.02814325.0071417,1318517,78275
ERI31Eritrea3.1182.0751686.4691645851831,824180
EST139Estonia1.61130.46810049.08711022,9863737,03340
SWZ62Eswatini2.6233.84816010.0921573,4151248,955119
ETH45Ethiopia2.84695.58863272.017609741672,772166
FJI66Fiji2.5573.93215910.0541584,37110211,175108
FIN182Finland1.018267.85643272.6785948,4611449,33422
FRA167France1.1582,551.45172,954.1961039,2572145,45426
GAB102Gabon2.20615.14512233.4161317,1858415,85482
GEO17Georgia3.43716.31611856.0831074,40510115,14283
DEU165Germany1.1783,780.55344,454.498545,4661553,57118
GHA63Ghana2.60867.33772175.639712,1881415,707132
GRC141Greece1.599194.37651310.7435518,1684629,04551
GRD134Grenada1.6741.0741811.7981809,8246816,45480
GTM122Guatemala1.95076.19168148.562764,2401058,267123
GIN79Guinea2.46814.23812635.1371251,0191652,516170
GNB36Guinea-Bissau3.0521.3921774.2481707671752,340174
GUY115Guyana2.0076.80615113.6611518,6497317,36076
HTI89Haiti2.3618.34714519.7041497321781,728181
HND98Honduras2.29623.98410555.0571082,4121385,538136
HKG163Hong Kong SAR1.288341.31936439.4594645,1761658,16511
HUN109Hungary2.110149.93955316.3425415,3735032,43445
ISL188Iceland0.95320.80511119.82014757,189854,48216
IND18India3.3492,592.58368,681.30331,8771486,284129
IDN35Indonesia3.0571,088.768153,328.28874,03811412,34599
IRQ101Iraq2.242178.11253399.400484,4381009,952116
IRL173Ireland1.122399.06429447.7234579,669389,3834
IRN137Islamic Republic of Iran1.649610.662221,006.697267,2578311,963104
ISR189Israel0.941383.42530360.9725041,5602039,12635
ITA161Italy1.3071,848.22282,415.4101230,6572740,06634
JAM121Jamaica1.95814.22812727.8551375,2219410,221114
JPN177Japan1.0664,910.58035,236.138439,0482341,63731
JOR85Jordan2.39842.60989102.158884,17410710,007115
KAZ37Kazakhstan3.028165.73054501.786418,7827226,58957
KEN84Kenya2.406101.04862243.137632,0751444,993145
KIR162Kiribati1.2990.1941920.2521901,6381532,126177
KOR152Korea1.4451,586.786102,293.4751430,6442844,29227
UVK61Kosovo2.6607.48414819.9091464,14110811,017110
KWT124Kuwait1.876108.65660203.7866622,2524041,73530
KGZ4Kyrgyz Republic4.2037.48014931.4391331,1481624,824146
LAO25Lao P.D.R.3.20318.65311659.7361042,5671378,221124
LVA130Latvia1.77533.0159758.59310517,2304730,57947
LBN3Lebanon4.21318.73411578.917962,74513511,562106
LSO30Lesotho3.1221.9061705.9511659241682,886164
LBR94Liberia2.3493.0681637.2081636541801,536186
LBY151Libya1.44621.80510931.5311323,2821304,746147
LTU123Lithuania1.94255.06482106.9138519,8834338,60537
LUX181Luxembourg1.03068.6137070.662101109,6021112,8751
MAC147Macao SAR1.52026.34810140.04911938,7692458,9319
MDG26Madagascar3.19914.19912845.4251145151861,647183
MWI75Malawi2.4948.33014620.774145399191995189
MYS59Malaysia2.677336.33040900.4263010,1926527,28755
MDV126Maldives1.8424.7121558.68116212,4646122,96562
MLI58Mali2.69217.68511747.6131128991712,421172
MLT148Malta1.51314.29012521.62714428,4693143,08729
MHL190Marshall Islands0.9290.2251910.2091924,0711123,786154
MRT22Mauritania3.2377.42815024.0421431,7911505,797131
MUS97Mauritius2.31511.34113726.2521408,9517020,71965
MEX96Mexico2.3301,040.372162,424.511118,0697618,80471
FSM193Micronesia0.8940.3951890.3531893,8551163,447160
MDA32Moldova3.10511.24113834.9081264,26810413,25394
MNG34Mongolia3.07313.38513141.1251163,99011512,259101
MNE73Montenegro2.5124.94315312.4171557,9337719,93167
MAR81Morocco2.438112.22059273.550583,1211317,609125
MOZ49Mozambique2.81114.55712440.9231174551901,279187
MMR8Myanmar3.88770.89069275.513571,3331595,179140
NAM91Namibia2.35410.25214224.1321424,0521139,537118
NRU174Nauru1.1140.1141930.1271938,867719,875117
NPL24Nepal3.21432.15899103.359871,1161633,586157
NLD175Netherlands1.113886.33917986.7732751,2901157,10113
NZL178New Zealand1.062193.54552205.5416538,6752541,07232
NIC40Nicaragua2.96811.90513535.3371241,8321495,439137
NER95Niger2.33812.97113230.3221345361841,253188
NGA90Nigeria2.357442.976271,044.211252,1491425,066144
MKD53North Macedonia2.76012.51013434.5231286,0199016,60979
NOR187Norway0.954366.38633349.5075167,989464,8566
OMN111Oman2.07462.30575129.1958014,4235429,90850
PLW184Palau0.9960.2511900.25019114,2335514,15989
PAN108Panama2.13260.28677128.5018114,0905730,03449
PNG150Papua New Guinea1.45623.28310633.9021292,6521363,861152
PRY67Paraguay2.54735.6069590.678944,9099712,50398
PER120Peru1.970195.76150385.719495,8459111,516107
PHL68Philippines2.542367.36232933.913283,3731258,574120
POL103Poland2.205580.894231,280.6592015,3045233,73943
PRT145Portugal1.533221.71649339.9485221,6084133,13144
PRI166Puerto Rico1.16293.96864109.2128430,1132934,99841
QAT132Qatar1.742147.79156257.4646152,751991,8973
COG118Republic of Congo1.9899.96414419.8181482,1281434,233150
ROU92Romania2.352248.62446584.8523612,8135930,14148
RUS54Russia2.7471,464.078114,021.73369,9726627,39454
RWA43Rwanda2.90610.42814130.3011358231732,393173
WSM158Samoa1.3570.8291841.1251844,0841115,547135
SMR157San Marino1.3601.4101761.91717841,6831956,69014
SAU88Saudi Arabia2.363680.897191,608.6101719,5874446,27325
SEN86Senegal2.37924.40910458.0751061,4551573,463159
SRB72Serbia2.51351.99984130.675797,4978018,84070
SYC106Seychelles2.1411.1981802.56517512,3236226,38858
SLE20Sierra Leone3.3004.14015813.6601525181851,711182
SGP138Singapore1.635337.45139551.6283858,484695,6032
SVK133Slovak Republic1.724101.89261175.6537018,6694532,18446
SVN144Slovenia1.53851.8028579.6649525,0393538,50638
SLB180Solomon Islands1.0321.5511751.6001812,3671392,442171
ZAF71South Africa2.515282.58842710.773334,7369911,911105
SSD42South Sudan2.9154.17715712.176156303192884192
ESP153Spain1.4221,247.464141,773.3641626,8323338,14339
LKA12Sri Lanka3.54681.12066287.671563,69811913,11495
KNA156St. Kitts and Nevis1.3790.8711821.20118315,2465321,02864
LCA154St. Lucia1.4011.7701732.4801769,7806913,70892
VCT131St. Vincent and the Grenadines1.7450.7771851.3561827,0338612,268100
SDN1Sudan5.10432.57698166.268727351773,749155
SUR15Suriname3.4782.5381658.8271614,19910614,60585
SWE179Sweden1.043529.05424551.5173950,3391252,47719
CHE194Switzerland0.835707.86818590.9003581,867268,3405
STP116São Tomé and Príncipe2.0050.4171880.8361861,9121463,837153
TWN114Taiwan Province of China2.007635.547211,275.8052126,9103254,02017
TJK2Tajikistan4.2707.89814733.7271308341723,560158
TZA65Tanzania2.57964.12373165.339731,1061642,851165
THA78Thailand2.477509.200251,261.485227,2958218,07374
BHS172The Bahamas1.12611.56013613.01615430,0273033,80842
GMB38The Gambia2.9991.8061725.4171677461762,239175
TLS52Timor-Leste2.7681.9201695.3151681,4561564,031151
TGO87Togo2.3755.71915213.5831536901791,640184
TON164Tonga1.2110.5031870.6091885,023966,074130
TTO140Trinidad and Tobago1.60322.71810836.41812316,1974825,96459
TUN29Tunisia3.15039.22691123.574823,29512910,382113
TUR10Turkey3.667649.436202,381.594137,7157828,29452
TKM112Turkmenistan2.07047.9868799.323898,0747516,71178
TUV176Tuvalu1.1110.0451940.0501944,0911104,480148
UGA48Uganda2.82437.73394106.568869151702,585168
UKR9Ukraine3.711142.25058527.933403,42512312,71097
ARE128United Arab Emirates1.830353.89935647.6503431,9482658,46610
GBR171United Kingdom1.1292,638.29652,978.564939,2292244,28828
USA183United States1.00020,807.269120,807.269263,051563,0517
URY155Uruguay1.39254.1358375.3439815,3325121,33863
UZB5Uzbekistan4.18559.77178250.157621,7631517,378126
VUT191Vanuatu0.9200.8641830.7951872,8791342,649167
VNM33Vietnam3.075340.602371,047.318243,49812110,755111
PSE127West Bank and Gaza1.83714.75012327.0951382,8941335,316139
YEM39Yemen2.99320.94811062.7061026451811,931179
ZMB21Zambia3.29818.90911362.3541031,0011663,302162
ZWE50Zimbabwe2.80214.00213039.2341209221692,583169
SYRSyria--- ---- --
World 1.55383,844.988 130,186.703 10,954 17,007