European Union Compared by Economy > GDP > Official exchange rate
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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
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# | COUNTRY | AMOUNT | DATE | GRAPH | HISTORY |
---|---|---|---|---|---|
1 | Germany | $3.38 trillion | 2012 | ||
2 | France | $2.58 trillion | 2012 | ||
3 | United Kingdom | $2.44 trillion | 2012 | ||
4 | Italy | $1.99 trillion | 2012 | ||
5 | Spain | $1.31 trillion | 2012 | ||
6 | Netherlands | $760.40 billion | 2012 | ||
7 | Sweden | $516.70 billion | 2012 | ||
8 | Poland | $483.20 billion | 2012 | ||
9 | Belgium | $477.40 billion | 2012 | ||
10 | Denmark | $310.60 billion | 2012 | ||
11 | Greece | $245.80 billion | 2012 | ||
12 | Finland | $244.30 billion | 2012 | ||
13 | Portugal | $209.60 billion | 2012 | ||
14 | Ireland | $208.00 billion | 2012 | ||
15 | Czech Republic | $193.00 billion | 2012 | ||
16 | Romania | $167.10 billion | 2012 | ||
17 | Hungary | $124.00 billion | 2012 | ||
18 | Slovakia | $90.67 billion | 2012 | ||
19 | Luxembourg | $56.37 billion | 2012 | ||
20 | Croatia | $55.71 billion | 2012 | ||
21 | Bulgaria | $50.33 billion | 2012 | ||
22 | Slovenia | $44.81 billion | 2012 | ||
23 | Lithuania | $41.57 billion | 2012 | ||
24 | Latvia | $28.00 billion | 2012 | ||
25 | Cyprus | $22.69 billion | 2012 | ||
26 | Estonia | $22.10 billion | 2012 | ||
27 | Malta | $8.63 billion | 2012 | ||
28 | Austria | $4.80 billion | 2012 |
Citation
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.