The world population is rapidly increasing, and with it the world economy. Currently, the value of the world economy reaches her $ 104.48 trillion, and the gross domestic product (GDP) of major countries reaches up to $ 27.97 trillion. But do these major countries have the same ranking and numbers when measuring economic prosperity using purchasing power parity (PPP)?
Purchasing power parity (PPP) is a macroeconomic concept used to compare the relative values of currencies between countries. When we say value, we mean how much of a difference purchasing a currency can make compared to other countries. To examine this, economists use purchasing power parity (PPP). This is the exchange rate at which one country’s currency is converted to another country’s currency to purchase the same basket of goods and services. The PPP indicator is commonly used to measure economic productivity and living standards between countries.
Here’s the list of top 10 countries with the Highest Purchasing Power Parity in the World.
10. United Kingdom
GDP (PPP): $3,967,703,923,320
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Great Britain, ranks among the top 10 economies with the highest purchasing power in the world. One. The per capita electricity parity is USD 58.23 thousand and the total GDP (PPP) is almost USD 4 trillion. According to the International Monetary Fund, the UK’s real GDP is likely to change by 0.6% in 2024.
9. France
GDP (PPP): $4,161,339,481,020
France, ranked 9th, is a country blessed with beautiful landscapes and architecture. It is a high-income country with an advanced and diversified EU economy. The tourism, aircraft manufacturing, pharmaceutical and industrial sectors are the strongest sectors in France and contribute the most to GDP in terms of purchasing power parity (PPP), amounting to approximately $4.2 trillion.
8. Brazil
GDP (PPP): $4,533,438,662,610
Brazil is the largest country in South America and is located in the center of the continent. Brazil has the eighth highest purchasing power parity in the world and is considered a developed emerging country. According to estimates from the International Monetary Fund, Brazil is expected to experience GDP growth of 1.5% in 2024.
7. Indonesia
GDP (PPP): $4,706,381,666,640
Indonesia, officially the Republic of Indonesia, is a country in Southeast Asia and Oceania located between the Indian and Pacific Oceans. According to an IMF report, the gross domestic product (PPP) per capita is estimated at USD 16.84 thousand.
6. Russia
GDP (PPP): $5,180,512,624,880
Russia is the world’s largest country by area and a Eurasian economy rich in natural resources. The company is also a major energy exporter to Europe and Asia. According to the International Monetary Fund, Russia’s GDP growth rate in 2024 is expected to be 2.6%.
5. Germany
GDP (PPP): 5,737,921,135,920 USD
Germany is considered an industrial leader in Europe due to its skilled engineers and exports. GDP (PPP) has exceeded $5.7 trillion, and the International Monetary Fund reports that it will increase by a further 1.3% overall in 2024. The country’s commitment to new ideas and talented workforce also play a key role in this growth.
4. Japan
GDP (PPP): USD 6,693,210,775,800
Japan is an island nation in East Asia with a highly developed and highly social market economy. The company is one of the largest and most technologically advanced manufacturers of automobiles, electronics, machine tools, steel and nonferrous metals, ships, chemicals, textiles, and processed foods.
3. India
GDP (PPP): 13,837,886,095,650 USD
India, the third largest country, currently has the world’s largest population and one of the highest purchasing power parities. According to the International Monetary Fund, GDP is expected to grow by 6.3% in 2024.
2. United States
GDP (PPP): $28,212,584,701,080
The United States is one of the world’s most powerful economies, with a purchasing power parity GDP of over $28.2 trillion, and the second highest purchasing power in the world. have parity. It is the leader of NATO, the largest importer and second largest exporter, and today is also home to some of the world’s largest financial exchanges and companies. America’s GDP in terms of purchasing power parity is approximately 2.2 times that of India.
1. China
GDP (PPP): $35,102,468,294,640 ($35.1 trillion)
China is a country in Central Asia with the largest population in the world. First of all, China currently has the highest purchasing power parity in the world, at over $35.1 trillion. The population is approximately 1,413,142,846 people, and the per capita GDP based on purchasing power parity (PPP) is 24.84 thousand US dollars (as of 2024).
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