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Group of 7 countries (G7) Compared by Economy > GDP > Official exchange rate > Per capita

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. Per capita figures expressed per 1 population.

CONTENTS

# COUNTRY AMOUNT DATE GRAPH HISTORY
1 United States $45,958.70 per capita 2007
2 United Kingdom $45,626.38 per capita 2007
3 Canada $42,886.91 per capita 2007
4 Germany $40,315.05 per capita 2007
5 France $35,240.62 per capita 2006
6 Japan $34,402.26 per capita 2007
7 Italy $33,599.20 per capita 2010

Citation

"Countries Compared by Economy > GDP > Official exchange rate > Per capita. 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/Group-of-7-countries-(G7)/Economy/GDP/Official-exchange-rate/Per-capita

Group of 7 countries (G7) Compared by Economy > GDP > Official exchange rate > Per capita

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