Former Spanish colonies 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.


1 Mexico $1.16 trillion 2012
2 Argentina $468.80 billion 2012
3 Venezuela $376.10 billion 2012
4 Colombia $364.00 billion 2012
5 Chile $264.50 billion 2012
6 Philippines $246.80 billion 2012
7 Peru $196.20 billion 2012
8 Ecuador $82.90 billion 2012
9 Cuba $72.30 billion 2012
10 Dominican Republic $58.20 billion 2012
11 Guatemala $49.55 billion 2012
12 Uruguay $49.24 billion 2012
13 Costa Rica $44.50 billion 2012
14 Panama $35.76 billion 2012
15 Bolivia $26.86 billion 2012
16 Paraguay $25.72 billion 2012
17 El Salvador $23.54 billion 2012
18 Honduras $18.25 billion 2012
19 Equatorial Guinea $17.45 billion 2012
20 Nicaragua $10.36 billion 2012


"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/Former-Spanish-colonies/Economy/GDP/Official-exchange-rate

Former Spanish colonies Compared by Economy > GDP > Official exchange rate


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.
Follow us on Facebook to get interesting stats: