OPEC countries 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.


1 Qatar $74,562.51 per capita 2010
2 Kuwait $42,857.14 per capita 2010
3 United Arab Emirates $29,005.08 per capita 2010
4 Saudi Arabia $16,007.68 per capita 2010
5 Libya $12,259.64 per capita 2010
6 Venezuela $9,084.09 per capita 2007
7 Iran $4,497.11 per capita 2007
8 Angola $4,496.91 per capita 2010
9 Algeria $3,948.01 per capita 2007
10 Iraq $2,656.61 per capita 2010
11 Nigeria $1,304.73 per capita 2010


"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/OPEC-countries/Economy/GDP/Official-exchange-rate/Per-capita

OPEC countries Compared by Economy > GDP > Official exchange rate > Per capita


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