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Cold countries Compared by Economy > GDP > Official exchange rate

DEFINITION: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at offical exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis-a-vis its neighbors, judging that an exchange rate captures the purchasing power a nation enjoys in the international marketplace. Official exchange rates, however, can be artifically fixed and/or subject to manipulation - resulting in claims of the country having an under- or over-valued currency - and are not necessarily the equivalent of a market-determined exchange rate. Moreover, even if the official exchange rate is market-determined, market exchange rates are frequently established by a relatively small set of goods and services (the ones the country trades) and may not capture the value of the larger set of goods the country produces. Furthermore, OER-converted GDP is not well suited to comparing domestic GDP over time, since appreciation/depreciation from one year to the next will make the OER GDP value rise/fall regardless of whether home-currency-denominated GDP changed.

CONTENTS

# COUNTRY AMOUNT DATE GRAPH HISTORY
1 United States $16.02 trillion 2012
2 China $8.11 trillion 2013
3 Germany $3.38 trillion 2012
4 United Kingdom $2.44 trillion 2012
5 Russia $2.00 trillion 2012
6 Canada $1.80 trillion 2012
7 Switzerland $622.60 billion 2012
8 Sweden $516.70 billion 2012
9 Norway $492.90 billion 2012
10 Poland $483.20 billion 2012
11 Belgium $477.40 billion 2012
12 Denmark $310.60 billion 2012
13 Chile $264.50 billion 2012
14 Finland $244.30 billion 2012
15 Ireland $208.00 billion 2012
16 Kazakhstan $199.90 billion 2012
17 Czech Republic $193.00 billion 2012
18 Ukraine $173.90 billion 2012
19 Romania $167.10 billion 2012
20 Hungary $124.00 billion 2012
21 Slovakia $90.67 billion 2012
22 Belarus $62.40 billion 2012
23 Luxembourg $56.37 billion 2012
24 Slovenia $44.81 billion 2012
25 Lithuania $41.57 billion 2012
=26 Latvia $28.00 billion 2012
=26 North Korea $28.00 billion 2009
28 Estonia $22.10 billion 2012
29 Nepal $18.70 billion 2012
30 Bosnia and Herzegovina $17.09 billion 2012
31 Georgia $15.62 billion 2012
32 Iceland $13.47 billion 2012
33 Mongolia $10.12 billion 2012
34 Armenia $9.78 billion 2012
35 Republic of Macedonia $9.50 billion 2012
36 Tajikistan $7.49 billion 2012
37 Kyrgyzstan $6.38 billion 2012
38 Liechtenstein $5.11 billion 2010
=39 Andorra $4.80 billion 2012
=39 Austria $4.80 billion 2012
41 Greenland $2.16 billion 2011
42 Bhutan $2.14 billion 2012
43 Falkland Islands (Islas Malvinas) $164.50 million 2007

Citation

"Countries Compared by Economy > GDP > Official exchange rate. International Statistics at NationMaster.com", CIA World Factbooks 18 December 2003 to 28 March 2011. Aggregates compiled by NationMaster. Retrieved from http://www.nationmaster.com/country-info/group-stats/Cold-countries/Economy/GDP/Official-exchange-rate

Cold countries Compared by Economy > GDP > Official exchange rate

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