Adjustment for Inflation

Gross Domestic Product

The GDP or gross domestic product of a country provides a measure of the monetary value of the goods and services it produces in a specific year. This is an important statistic that indicates whether an economy or growing or contracting. In the United States, the government releases an annualized GDP estimate for each quarter and also for an entire year.

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).

Providing a quantitative figure for GDP helps a government make decisions such as whether to stimulate the economy by pumping money into it, in case the economy is not growing and needs such stimulus. And in case the economy is getting heated, a government could also act to prevent it from getting overheated. The US government, for example, makes a preliminary estimate of GDP for each quarter, based on the initial information it has, and then makes a second estimate and a final one as more information flows in.

Businesses can also use GDP as a guide to decide how best to expand or contract their production and other business activities. And investors also watch GDP since it provides a framework for investment decision-making.

Calculating GDP Based on Spending

One way of arriving at the GDP of a country is to calculate the monies spent by the different groups that participate in the economy. For instance, consumers spend money to buy various goods and services, and businesses spend money as they invest in their business activities, by buying machinery, for instance. And governments also spend money. All these activities contribute to the GDP of a country.

Also, some of the goods and services that an economy makes are exported overseas. And some of the products and services that are consumed within the country are imports from overseas. The GDP calculation also accounts for spending on exports and imports. Thus, a country’s GDP is a measure of consumer spending (C) plus business investment (I) and government spending (G) as well as its net exports, which is exports minus imports (X-M).

The Income Approach

Considering that the other side of the spending coin is income and since what you spend is somebody else’s income, another approach to calculating GDP is based on a tally of the national income. Income earned by all the factors of production in an economy includes the wages paid to labor, the rent earned by land, the return on capital in the form of interest, as well as an entrepreneur’s profits. An entrepreneur’s profits could be invested in his own business, or it could be an investment in any outside business. All this constitutes national income.

Also, this approach factors in some adjustments for some items that don’t show up in these payments made to factors of production. For one, there are some taxes – such as sales tax and property taxes – that are classified as indirect business taxes. In addition, depreciation – which is a reserve that businesses set aside to account for the replacement of equipment that tends to wear down with use – is also added to the national income. Another adjustment is made for foreign payments made to Americans, which is income for Americans and US payments made to foreigners, to arrive at the net foreign factor income. Subtracting the payments made to foreigners from the payments made to Americans provides a net foreign factor income.

With the income approach, the GDP of a country is calculated as its national income plus its indirect business taxes and depreciation, as well as its net foreign factor income.

Adjustment for Inflation

Considering that GDP is based on a monetary value of an economy’s output, it is subject to inflationary pressure. Over a period of time, prices typically tend to go up in an economy, and this is reflected in the GDP. Thus, just by looking at an economy’s unadjusted GDP it is difficult to tell whether the GDP went up as a result of production expanding in the economy or because prices went up.

That’s why economists have come up with an adjustment for inflation to arrive at an economy’s real GDP, rather than its nominal GDP. By adjusting the output in any given year for inflation so that it reflects the price levels that prevailed in a reference year, called “the base year,” economists adjust for the inflation effect. This way, it is possible to compare a country’s GDP from one year to another and see if there is any real growth.

Drawbacks

While GDP is a convenient way to get an idea about the state of an economy, it is by no means a perfect approach. One criticism that has been leveled is that there is no accounting for activities that are not part of the legalized economy. Thus, drug dealing and such illegal activities that generate a lot of income don’t factor into GDP calculations.

Another criticism is that some activities that provide value are not factored into GDP. For instance, if you hire a maid to keep your house clean, a cook to prepare your meals and a nanny to care for your children, you will pay these hired helpers and such payments factor into GDP. On the other hand, if you do your own cooking and cleaning and care for your children without hiring a nanny, these activities do not contribute to GDP. And although GDP provides an idea about an economy’s performance, it doesn’t necessarily reflect the welfare of its citizens since it doesn’t account for softer aspects such as their levels of happiness.

Conclusions

GDP provides a monetary value for the output of goods and services by an economy. This can be calculated using an income approach or a spending approach and also adjusting for inflation. However, GDP as a measure has its drawbacks as well.

Next list contains projected GDP's of 191 Countries/Economies in current prices (U.S. dollars) of year 2017 and 2022. Data is based on projection by IMF outlook April 2017. GDP of Pakistan and Egypt is missing in nominal methods. Both data is calculated by interpolation.

Gross world product in 2017 is projected at $77.99 trillion, its GDP (PPP) is forecasted at $126.69 trillion. Global economy is 1.62 times greater in PPP terms compare to nominal terms. Out of 191 economies, 181 have higher value in PPP basis and 9 have higher in nominal. For United States both values are identical.

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.

Номинальные оценки ВВП обычно используются для определения экономических показателей всей страны или региона и для проведения международных сопоставлений. Это оригинальная концепция ВВП. В Номинальном методе рыночные обменные курсы используются для конвертации. Он не учитывает различия в стоимости жизни в разных странах. Колебания обменных курсов валюты страны могут изменить рейтинг страны с одного года на год, даже если они часто мало или совсем не влияют на уровень жизни его населения.

United States and China would be the largest economy in nominal and PPP, respectively. Tuvalu would be the world's smallest economy in both methods. In exchange rates methods, Largest economy United States shares 24.9 percent of global wealth, while smallest economy Tuvalu contributes only 0.00005 percent. In PPP, 1st ranked China shares 18.3 percent and lowest ranked Tuvalu shares 0.00003 percent.

In nominal data, 15 economies would have gdp above $1 trillion, 62 have above $100 billion and 177 have above $1 billion. Top five economies accounts for approximately 53.82 %, where as top ten accounts for approx. 67.19 %. top 20 economies add up to over 80%. 92 smallest economies only contribute 1 % in global wealth and 154 lowest ranked constitute only 10 % of total.

In ppp data, 25 economies, 10 more than nominal, would have gdp above $1 trillion. 84 economies would have gdp greater than $100 billion and 181 have greater than $1 billion. top 5 economies adds up to over 48% of the world's economy, top 10 economies add up to over 61%, and the top 20 economies add up to over 75%. 81 smallest economies only share 1 % in global wealth and 148 lowest ranked share only 10 % of total.

There are much differences in ranking of economies between these two basis. Azerbaijan is highest gainer in ppp rank compare to its nominal rank. Rank of Azerbaijan is up by 21 place from 94th in nominal to 73th in ppp. Azerbaijan is followed by Iraq (19), Madagascar (19), Algeria (19) and Myanmar (18). Iceland is biggest looser in ppp ranking, down by 40 rank from 107th to 147th. Next in line comes Luxembourg (-30), Israel (-22), Denmark (-22), and Papua New Guinea (-21). 20 economieshassamerankinbothmethods.

Country/Economy	GDP Nominal (billionsof $)	GDP PPP (billions of Int. $)	PPP/Nom
	share	Rank		Rank		share	Rank		Rank
UnitedStates	19,417.144	24.9		23,760		19,417.144	15.3		23,760		1.000
China	11,795.297	15.1		17,707		23,194.411	18.3		34,316		1.966
Japan	4,841.221	6.21		5,368		5,420.228	4.28		6,201		1.120
Germany	3,423.287	4.39		3,923		4,134.668	3.26		4,902		1.208
UnitedKingdom	2,496.757	3.20		2,873		2,905.392	2.29		3,520		1.164
India	2,454.458	3.15		3,935		9,489.302	7.49		15,427		3.866
France	2,420.440	3.10		2,815		2,833.064	2.24		3,434		1.170
Brazil	2,140.940	2.75		2,676		3,216.031	2.54		3,930		1.502
Italy	1,807.425	2.32		1,994		2,303.108	1.82		2,664		1.274
Canada	1,600.265	2.05		1,913		1,752.910	1.38		2,132		1.095
Russia	1,560.706	2.00		1,841		3,938.001	3.11		4,707		2.523
Korea	1,498.074	1.92		1,829		2,029.706	1.60		2,613		1.355
Australia	1,359.723	1.74		1,710		1,251.416	0.988		1,600		0.920
Spain	1,232.440	1.58		1,452		1,768.816	1.40		2,154		1.435
Indonesia	1,020.515	1.31		1,616		3,257.123	2.57		4,712		3.192
Mexico	987.303	1.27		1,284		2,406.199	1.90		3,031		2.437
Turkey	793.698	1.02		1,032		2,082.079	1.64		2,750		2.623
Netherlands	762.694	0.978		876.0		907.619	0.716		1,097		1.190
SaudiArabia	707.379	0.907		837.3		1,796.205	1.42		2,174		2.539
Switzerland	659.368	0.845		737.0		514.162	0.406		619.8		0.780
Argentina	628.935	0.806		908.3		912.816	0.721		1,164		1.451
TaiwanProvinceofChina	566.757	0.727		655.4		1,177.052	0.929		1,460		2.077
Sweden	507.046	0.650		629.4		522.849	0.413		638.1		1.031
Poland	482.920	0.619		633.2		1,114.105	0.879		1,429		2.307
Belgium	462.715	0.593		540.9		529.289	0.418		633.3		1.144
Thailand	432.898	0.555		519.1		1,226.407	0.968		1,589		2.833
UnitedArabEmirates	407.210	0.522		541.1		693.765	0.548		915.4		1.704
Nigeria	400.621	0.514		656.9		1,124.627	0.888		1,367		2.807
Norway	391.959	0.503		446.7		377.100	0.298		464.3		0.962
Austria	383.509	0.492		446.0		432.424	0.341		508.4		1.128
IslamicRepublicofIran	368.488	0.472		503.9		1,535.491	1.21		2,114		4.167
Israel	339.990	0.436		415.2		316.120	0.250		406.1		0.930
HongKong SAR	332.266	0.426		399.2		449.589	0.355		575.0		1.353
Philippines	329.716	0.423		579.3		878.980	0.694		1,368		2.666
SouthAfrica	317.568	0.407		380.4		761.926	0.601		937.4		2.399
Malaysia	309.860	0.397		489.0		922.057	0.728		1,295		2.976
Colombia	306.439	0.393		401.7		720.151	0.568		947.5		2.350
Denmark	304.216	0.390		363.5		284.040	0.224		344.9		0.934
Ireland	294.193	0.377		364.2		343.682	0.271		441.2		1.168
Egypt	294.109	0.377		416.5		1,197.967	0.946		1,738		4.073
Singapore	291.860	0.374		340.8		514.837	0.406		649.5		1.764
Venezuela	251.589	0.323		152.7		404.109	0.319		407.4		1.606
Pakistan	251.487	0.322		356.2		1,060.569	0.837		1,556		4.217
Chile	251.220	0.322		321.3		455.941	0.360		582.8		1.815
Bangladesh	248.853	0.319		386.9		686.598	0.542		1,069		2.759
Finland	234.524	0.301		275.0		239.662	0.189		286.6		1.022
Vietnam	215.829	0.277		314.2		648.243	0.512		973.0		3.004
Peru	207.072	0.266		276.6		429.711	0.339		570.8		2.075
Portugal	202.770	0.260		229.8		310.651	0.245		364.7		1.532
NewZealand	198.043	0.254		249.5		186.476	0.147		235.7		0.942
CzechRepublic	196.068	0.251		256.5		368.659	0.291		457.6		1.880
Greece	193.100	0.248		227.8		302.150	0.238		369.5		1.565
Romania	189.790	0.243		261.9		470.312	0.371		614.7		2.478
Iraq	189.432	0.243		249.1		641.005	0.506		773.5		3.384
Algeria	173.947	0.223		202.2		634.746	0.501		763.4		3.649
Qatar	173.649	0.223		237.0		347.887	0.275		428.3		2.003
Kazakhstan	157.878	0.202		232.9		472.563	0.373		625.4		2.993
Kuwait	126.971	0.163		173.2		309.640	0.244		404.9		2.439
Hungary	125.297	0.161		149.7		284.266	0.224		356.7		2.269
Angola	122.365	0.157		150.2		193.935	0.153		231.3		1.585
Sudan	115.874	0.149		255.4		186.715	0.147		247.1		1.611
Morocco	105.623	0.135		139.4		300.556	0.237		412.1		2.846
PuertoRico	99.727	0.128		93.10		129.848	0.102		134.8		1.302
Ecuador	97.362	0.125		105.8		184.629	0.146		214.9		1.896
Ukraine	95.934	0.123		148.1		368.047	0.291		491.5		3.836
SlovakRepublic	89.134	0.114		114.9		179.527	0.142		237.6		2.014
SriLanka	84.023	0.108		117.7		278.415	0.220		395.6		3.314
Ethiopia	78.384	0.101		114.9		194.980	0.154		309.4		2.487
DominicanRepublic	76.850	0.0985		103.2		174.180	0.137		246.8		2.266
Kenya	75.099	0.0963		112.8		164.340	0.130		247.4		2.188
Myanmar	72.368	0.0928		120.2		334.856	0.264		534.6		4.627
Oman	71.325	0.0915		90.48		189.582	0.150		236.9		2.658
Guatemala	70.943	0.0910		95.94		138.987	0.110		186.3		1.959
Uzbekistan	68.324	0.0876		87.92		222.792	0.176		331.1		3.261
Luxembourg	59.997	0.0769		75.99		63.549	0.0502		82.55		1.059
CostaRica	59.796	0.0767		83.39		85.781	0.0677		115.2		1.435
Panama	59.486	0.0763		89.84		100.512	0.0793		150.0		1.690
Uruguay	58.123	0.0745		75.39		77.800	0.0614		100.2		1.339
Belarus	54.689	0.0701		65.08		173.405	0.137		207.1		3.171
Libya	54.411	0.0698		185.2		87.067	0.0687		111.9		1.600
Lebanon	53.915	0.0691		68.66		88.786	0.0701		113.7		1.647
Bulgaria	52.291	0.0671		64.71		152.079	0.120		191.4		2.908
Tanzania	51.194	0.0656		77.63		163.522	0.129		250.3		3.194
Croatia	50.084	0.0642		60.10		100.006	0.0789		124.6		1.997
Macao SAR	45.728	0.0586		55.88		65.732	0.0519		83.78		1.437
Slovenia	43.503	0.0558		52.32		69.358	0.0547		84.38		1.594
Lithuania	42.826	0.0549		55.41		90.387	0.0713		116.9		2.111
Ghana	42.753	0.0548		61.89		131.498	0.104		196.4		3.076
Turkmenistan	42.355	0.0543		71.43		103.987	0.0821		150.2		2.455
Democratic Republic of the Congo	41.098	0.0527		52.72		68.331	0.0539		92.93		1.663
Jordan	40.506	0.0519		52.67		89.555	0.0707		114.2		2.211
Tunisia	40.289	0.0517		50.85		136.797	0.108		184.7		3.395
Bolivia	39.267	0.0504		57.81		83.608	0.0660		110.4		2.129
Azerbaijan	38.583	0.0495		58.46		167.431	0.132		213.2		4.340
Serbia	37.739	0.0484		51.83		107.131	0.0846		143.3		2.839
Côted'Ivoire	36.873	0.0473		56.23		95.887	0.0757		149.2		2.600
Bahrain	34.310	0.0440		41.15		69.922	0.0552		85.62		2.038
Cameroon	29.547	0.0379		40.52		81.535	0.0644		115.2		2.760
Paraguay	28.743	0.0369		37.64		68.005	0.0537		90.68		2.366
Latvia	27.795	0.0356		37.24		53.268	0.0420		70.88		1.916
ElSalvador	27.548	0.0353		34.43		57.285	0.0452		70.49		2.079
Yemen	27.189	0.0349		39.84		74.250	0.0586		116.8		2.731
Uganda	27.174	0.0348		40.49		91.212	0.0720		139.9		3.357
Estonia	23.422	0.0300		31.01		40.275	0.0318		51.42		1.720
Nepal	23.316	0.0299		35.01		77.147	0.0609		104.0		3.309
Zambia	23.137	0.0297		32.41		68.648	0.0542		94.24		2.967
Iceland	22.970	0.0295		30.31		17.846	0.0141		23.01		0.777
Honduras	21.790	0.0279		25.85		45.628	0.0360		60.92		2.094
TrinidadandTobago	21.748	0.0279		29.23		44.654	0.0352		56.13		2.053
PapuaNewGuinea	21.189	0.0272		29.29		29.481	0.0233		38.60		1.391
Cambodia	20.953	0.0269		31.57		64.405	0.0508		98.14		3.074
Afghanistan	20.570	0.0264		29.11		67.462	0.0533		93.32		3.280
Cyprus	19.648	0.0252		23.49		31.093	0.0245		38.36		1.583
BosniaandHerzegovina	16.780	0.0215		21.96		44.462	0.0351		59.61		2.650
Botswana	15.564	0.0200		20.96		39.054	0.0308		53.24		2.509
Senegal	15.431	0.0198		23.37		43.326	0.0342		67.28		2.808
Zimbabwe	15.285	0.0196		19.95		29.795	0.0235		33.46		1.949
Lao P.D.R.	14.971	0.0192		23.12		44.639	0.0352		69.09		2.982
Mali	14.344	0.0184		18.95		40.974	0.0323		57.24		2.857
Jamaica	14.272	0.0183		18.59		26.474	0.0209		33.55		1.855
Gabon	14.208	0.0182		18.36		36.999	0.0292		50.46		2.604
Nicaragua	13.748	0.0176		18.97		35.835	0.0283		49.48		2.607
Georgia	13.723	0.0176		20.41		39.318	0.0310		55.40		2.865
BruneiDarussalam	12.326	0.0158		16.45		32.838	0.0259		51.32		2.664
Albania	12.294	0.0158		17.14		36.198	0.0286		49.19		2.944
BurkinaFaso	12.258	0.0157		18.35		35.598	0.0281		53.88		2.904
Mauritius	12.245	0.0157		15.97		27.507	0.0217		37.31		2.246
Namibia	11.765	0.0151		15.64		27.451	0.0217		37.21		2.333
EquatorialGuinea	11.686	0.0150		12.17		30.807	0.0243		29.04		2.636
Mozambique	11.170	0.0143		18.39		37.321	0.0295		60.37		3.341
Malta	11.164	0.0143		14.24		18.404	0.0145		23.88		1.649
FYR Macedonia	10.951	0.0140		14.35		31.924	0.0252		42.46		2.915
Armenia	10.741	0.0138		13.86		27.116	0.0214		35.37		2.525
Madagascar	10.372	0.0133		14.56		40.055	0.0316		56.61		3.862
Mongolia	10.271	0.0132		14.53		37.731	0.0298		55.91		3.674
Chad	9.636	0.0124		12.90		29.730	0.0235		39.02		3.085
TheBahamas	9.172	0.0118		10.83		9.374	0.00740		11.34		1.022
Rwanda	8.918	0.0114		12.76		24.717	0.0195		39.05		2.772
Benin	8.792	0.0113		13.23		25.407	0.0201		38.53		2.890
RepublicofCongo	8.341	0.0107		11.34		30.607	0.0242		40.42		3.669
Haiti	7.897	0.0101		8.837		19.979	0.0158		25.71		2.530
Niger	7.674	0.00984		11.44		21.655	0.0171		32.73		2.822
Moldova	7.409	0.00950		9.378		20.207	0.0160		27.06		2.727
Tajikistan	7.242	0.00929		10.52		27.802	0.0219		40.72		3.839
Guinea	6.936	0.00889		9.590		17.056	0.0135		23.93		2.459
KyrgyzRepublic	6.854	0.00879		8.955		22.737	0.0179		31.86		3.317
Kosovo	6.809	0.00873		9.032		19.509	0.0154		26.10		2.865
Malawi	6.182	0.00793		8.661		22.577	0.0178		32.60		3.652
Eritrea	6.051	0.00776		10.62		9.678	0.00764		12.93		1.599
Mauritania	5.063	0.00649		5.882		17.421	0.0138		23.76		3.441
Fiji	4.869	0.00624		6.144		8.798	0.00694		11.62		1.807
SouthSudan	4.812	0.00617		5.991		20.423	0.0161		26.69		4.244
Barbados	4.759	0.00610		5.770		4.983	0.00393		5.924		1.047
Togo	4.554	0.00584		6.537		12.494	0.00986		18.13		2.744
Montenegro	4.185	0.00537		5.198		10.934	0.00863		14.02		2.613
SierraLeone	4.088	0.00524		6.802		11.551	0.00912		18.07		2.826
Swaziland	3.938	0.00505		4.298		11.352	0.00896		12.97		2.883
Suriname	3.641	0.00467		4.542		7.961	0.00628		9.895		2.186
Guyana	3.591	0.00460		5.927		6.398	0.00505		13.95		1.782
Maldives	3.578	0.00459		4.989		5.853	0.00462		8.192		1.636
Burundi	3.384	0.00434		5.987		8.024	0.00633		9.093		2.371
Timor-Leste	2.727	0.00350		3.630		4.567	0.00360		3.826		1.675
Lesotho	2.439	0.00313		3.247		7.287	0.00575		9.640		2.988
Bhutan	2.308	0.00296		3.860		7.045	0.00556		11.99		3.052
Liberia	2.215	0.00284		3.217		3.960	0.00313		5.913		1.788
Djibouti	2.088	0.00268		3.300		3.658	0.00289		5.537		1.752
CentralAfricanRepublic	1.992	0.00255		3.386		3.411	0.00269		4.925		1.712
Belize	1.829	0.00235		2.299		3.252	0.00257		4.001		1.778
CaboVerde	1.637	0.00210		2.197		3.762	0.00297		5.111		2.298
SanMarino	1.551	0.00199		1.766		2.093	0.00165		2.478		1.349
Seychelles	1.475	0.00189		1.923		2.761	0.00218		3.613		1.872
AntiguaandBarbuda	1.454	0.00186		1.790		2.372	0.00187		2.865		1.631
St. Lucia	1.428	0.00183		1.644		2.110	0.00167		2.523		1.478
SolomonIslands	1.245	0.00160		1.662		1.247	0.00098		1.609		1.002
Guinea-Bissau	1.166	0.00150		1.621		3.089	0.00244		4.377		2.649
Grenada	1.089	0.00140		1.381		1.588	0.00125		2.013		1.458
TheGambia	1.041	0.00133		1.417		3.607	0.00285		4.811		3.465
St. KittsandNevis	0.951	0.00122		1.218		1.544	0.00122		1.985		1.624
Samoa	0.843	0.00108		1.009		1.129	0.00089		1.371		1.339
Vanuatu	0.829	0.00106		1.123		0.772	0.00061		1.008		0.931
St. Vincent and the Grenadines	0.809	0.00104		1.004		1.299	0.00103		1.665		1.606
Comoros	0.654	0.00084		0.902		1.329	0.00105		1.795		2.032
Dominica	0.539	0.00069		0.645		0.847	0.00067		1.034		1.571
Tonga	0.422	0.00054		0.530		0.597	0.00047		0.745		1.415
SãoToméandPríncipe	0.355	0.00046		0.536		0.685	0.00054		0.993		1.930
Micronesia	0.334	0.00043		0.371		0.345	0.00027		0.400		1.033
Palau	0.315	0.00040		0.407		0.297	0.00023		0.386		0.943
MarshallIslands	0.188	0.00024		0.216		0.188	0.00015		0.224		1.000
Kiribati	0.173	0.00022		0.196		0.222	0.00018		0.269		1.283
Nauru	0.114	0.00015		0.122		0.160	0.00013		0.181		1.404
Tuvalu	0.036	0.00005		0.043		0.041	0.00003		0.050		1.139
Syria	-	-	-	-	-	-	-	-	-	-	-
World	77,988			99,956		126,688			168,202		1.624

GDP per capita is calculated by dividing GDP by midyear population. GDP (Gross Domestic Product) is the total market value of all final goods and services produced in a country in a given year. In Nominal method, market exchange rates are used for conversion. To make meaningful comparison, PPP is used to compare economies and incomes of people by adjusting for differences in prices in different countries.

This list contains projected GDP per capita of 190 Countries/Economies in current prices (U.S. dollars) of year 2017 and 2022. Data is based on projection by IMF outlook April 2017. GDP of Pakistan and Egypt is missing in nominal methods. Both data is calculated by interpolation.

GDP per capita of world in 2017 is forecasted at $10,562, its GDP per capita (PPP) is projected at $17,156. Total population of 190 economies is 7.383 billions. Per capita GDP of world is 1.62 times greater in PPP terms compare to nominal terms.

Luxembourg and Qatar would be the richest economy in nominal and PPP, respectively. Malawi and Burundi would be the poorest economy in nominal and PPP, respectively. In exchange rates methods, Per capita wealth of richest economy Luxembourg would be 9.63 times greater than world average, while poorest economy Malawi would be 32.75 times poorer than world average. In PPP, 1st ranked Qatar would be 7.53 times richer and lowest ranked Central African Republic would be 25.06 times poorer.

In nominal data, only Luxembourg would have gdp per capita of above one lakh US dollar. There would be 11 economies which has per capita income above $50,000. 39 hasabove $20,000 and 66 hasabove $10,000. 64 economieshaspercapitaincomegreaterthanworld'saverage. Ten economies would be above five times more richer than world. 31 poorest would be poorer by more than ten times.

In ppp data, Qatar and Luxembourg would have gdp per capita of above one lakh US dollar. There would be 18 economies which has per capita income above $50,000. 66 hasabove $20,000 and 109 hasabove $10,000. 79 economieshaspercapitaincomegreaterthanworld'saverage. Four economies would be above five times more richer than world. 14 poorest would be poorer by more than ten times.

There are much differences in ranking of economies between these two basis. Azerbaijan is highest gainer in ppp rank compare to its nominal rank. Rank of Azerbaijan is up by 35 place from 112th in nominal to 77th in ppp. Azerbaijan is followed by Islamic Republic of Iran (33). Next in line comes Brunei Darussalam (26) and Saudi Arabia (24). Palau is biggest looser in ppp ranking, down by 37 rank from 45th to 82th. Next in line comes Marshall Islands (-32), Micronesia (-30), and Vanuatu (-30). 4 economies has same rank in both methods.

Country/Economy

GDP percapitaNominal ($)

GDP per capita PPP (Int. $)

timestoworld

Rank

timestoworld

Rank

Luxembourg

101,715

9.63

114,642

107,737