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East Asia and Pacific 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 China $8.11 trillion 2013
2 Japan $5.88 trillion 2012
3 Australia $1.52 trillion 2012
4 South Korea $1.11 trillion 2012
5 Indonesia $866.70 billion 2012
6 Taiwan $467.70 billion 2012
7 Thailand $361.00 billion 2012
8 Malaysia $300.60 billion 2012
9 Singapore $272.80 billion 2012
10 Philippines $246.80 billion 2012
11 New Zealand $167.50 billion 2012
12 Vietnam $153.50 billion 2012
13 Burma $54.53 billion 2012
14 North Korea $28.00 billion 2009
15 Brunei $16.72 billion 2012
16 Papua New Guinea $14.93 billion 2012
17 Cambodia $13.93 billion 2012
18 Mongolia $10.12 billion 2012
19 Laos $9.05 billion 2012
20 East Timor $6.21 billion 2013
21 Fiji $3.97 billion 2012
22 Solomon Islands $983.50 million 2012
23 Vanuatu $776.40 million 2012
24 Samoa $680.70 million 2012
25 Tonga $464.60 million 2012
26 Federated States of Micronesia $321.60 million 2012
27 Palau $221.00 million 2011
28 Marshall Islands $179.50 million 2012
29 Kiribati $172.60 million 2012
30 Tuvalu $39.46 million 2012

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/East-Asia-and-Pacific/Economy/GDP/Official-exchange-rate

East Asia and Pacific Compared by Economy > GDP > Official exchange rate

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Interesting observations about Economy > GDP > Official exchange rate

  • 5 of the top 7 countries by GDP > official exchange rate are Heavily indebted.
  • 2 of the top 3 countries by GDP > official exchange rate are Cold countries'.
  • 9 of the top 15 countries by GDP > official exchange rate are Christian.
  • 72 of the top 147 countries by GDP > official exchange rate are Hot countries.
  • United States has ranked in the top 2 for GDP > official exchange rate since 2005.
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