What is “Gross domestic product based on purchasing-power-parity (PPP) valuation of country GDP”?
A. It is calculated by dividing a country’s nominal GDP in its own currency by the PPP exchange rate. The PPP exchange rate comes from a calculation that starts with the PPP exchange reported by the International Comparison Project (ICP) for years 2003-2005, which is then extended backwards and forwards by the growth in relative GDP deflators (the deflator of a country divided by the deflator of the United States).” Differences in PPP exchange rate estimates with other organizations must be confirmed from the providers of those estimates.
A. It is calculated by dividing a country’s nominal GDP in its own currency by the PPP exchange rate. The PPP exchange rate comes from a calculation that starts with the PPP exchange reported by the International Comparison Project (ICP) for years 2003-2005, which is then extended backwards and forwards by the growth in relative GDP deflators (the deflator of a country divided by the deflator of the United States). Differences in PPP exchange rate estimates with other organizations must be confirmed from the providers of those estimates.
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