DEFINITION
GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
DEFINITION: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.
The BBC states that Japan is the world's second largest economy. The GDP figures here show China as the second largest. So which country is it?
Cloud 23rd May 2005
Right now (as for 2005) China's nominal GDP is only a little bigger than Italia's, but be patient, in no more than 10 years, it will overtake Japan as the second largest economy of the world providing 8 % growth/year. It is just a question of time.
Franz 1st June 2005
Japan is the second largest economy based on real Gross Domestic Product. GDP PPP is basically used to measure poverty rates and how much a hamburger costs in each country. An American with $100 spending money can live a life of luxury and feel very rich in China. In Japan he would never leave the airport and would have to sleep on the ground.
Joe 5th August 2005
The above figures are PPP (purchasing power parity) adjusted. This takes into account the local cost of producing goods and services. For example, I found that what cost (on average over a number of cities & provinces)about 1RMB in China, costs about $1AUD in Australia. Of course the Aust product is much more expensive in real terms because the exchange rate is about 6.2RMB = $1AUD. China's real $GDP is about $1.6 trillion, as the GDP per person, per year is about $1250.
I don't why this site negects to put the USA & UK figures in some of its lists?? In this list the UK is at #198 & the USA at #218 with no $ amounts.
From http://www.cia.gov/cia/publications/factbook/countrylisting.html
the USA is about $12 trillion & the UK about $1.8 trillion (Germany is about $2.4 trillion & France about $1.7 trillion)
One last point: If China's economy continues to grow at say %10 & the USA's at say %4, it will take 35 years for China's real $GDP to match the USA's. What will cause this to happen much more quickly is a large revaluation of the RMB. A doubling of the value of the RMB against the US$ will immediately double China's GDP.
Francesca (Italy) 21st June 2006
Has anyone ever tried to sum up the GDP of all 25 European countries? Take a look at that number, please.
I await your comments, thanx.
Matheus Vilela (Mexico) 28th March 2007
The most updated Brazil's GDP is 1.05 trillion of USD. The information here is out of date.
Alexey (Russia) 19th May 2007
Russia GDP is outdated. Russia is #10 after Canada at the moment
Don Douglas (Sydney) 30th June 2007
You put Australia's GDP ahead of Russias in 2007. That is totally ridiculous given that Russia's electricity output is much higher than Australia's.
Arminius (Germany) 5th July 2007
German and Austrian are Outdated!
3,047 trillion for Germany and 380 billion for Austria
Nick (Canada) 24th August 2007
Those GDP are from the last years. Now Canada's GDP is #8 with more than 1 trillion.
Vincent (UK) 19th September 2007
Would be usefull to either include GDP based on each national currency, or maybe simpler to add the US $ exchange rate that was applied for each.
Thanks for a great service.
Steve (US) 30th September 2007
This is ridiculous - why are they using two year old data? World Bank, IMF, EIU and UN Statistics Bureau have published 2006 data nearly six months ago! and some already have pro-forma 2007 numbers. Very misleading - as per comment above regarding canada and germany - also, China is supposed to be the fourth largest economy.
Ilya (Moscow) 11th July 2008
Why no data for the USSR for 1980s? It seems incorrect to count "total" without secong largest economy in the world.
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