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In [[20th century]] theories of [[economics]], the '''gross domestic product''' ('''GDP''') was used as a measure of the size of the economy of a particular territory. However, it always had serious problems as a metric, suffering in particular from the [[broken window fallacy]] (valuing activitie which make up for harms and those that create new goods equally). It also seems to overvalue [[infrastructural capital]]. It is thus the most controversial indicator in economics: Its creators ''never'' advised it as a useful indicator in managing [[money supply]], and have deplored its use and reporting in that fashion. It is nonetheless ab/used that way by almost all countries in the planet Earth. See [[uneconomic growth]], [[net domestic product]], [[measuring well-being]], [[ecological yield]] and [[nature's services]] for modern views.'' It is defined as the total value of all goods and services produced within that territory during a specified period (most commonly, per year). GDP differs from [[gross national product]] in excluding inter-country income transfers, in effect attributing to a territory the product ''generated'' within it rather than the incomes ''received'' in it. A common equation for GDP is: : ''GDP = [[consumption]] + [[investment]] + [[government]] expenditures + [[export]]s - [[import]]s'' [[Aggregate expenditures]] are calculated in a similar way, although the aggregate expenditures formula does not account for unplanned investment (left over inventory at the end of the reporting cycle) and is more commonly used by economic theorists. GDPs of different countries may be compared by converting their value in national currency according to ''either'' (''a'') exchange rates prevailing on international currency markets, or (''b'') the [[purchasing power parity]] (PPP) of each currency relative to a selected standard (usually the [[United States dollar]]). The relative ranking of countries may differ dramatically between the two approaches, as using official exchange rates can routinely understate the relative effective domestic purchasing power of the average producer or consumer within a less-developed economy by 50-60% owing to the weakness of local currencies on world markets. On the other hand, comparison based on official exchange rates can offer a better indication of a country's purchasing power on the ''international'' market for goods and services. For more information see [[measures of national income]]. == List of the countries == (List of the total GDP, PPP basis by country) {| |- bgcolor="#FFD2000" ! Rank !! Entity !! PPP total !! PPP/capita !! Population |- bgcolor="#FFD900" ! !! !! (U.S dollars) !! (U.S dollars) !! (2003 est.) |- | || '''[[European Union]]* ||align="right"| 10.84 trillion ||align="right"| 28,600 ||align="right"| 379,000,000 |- | 1. || [[United States]] ||align="right"| 10.40 trillion ||align="right"| 37,600 ||align="right"| 290,343,000 |- | 2. || [[People's Republic of China|China (mainland)]] ||align="right"| 5.70 trillion ||align="right"| 4,400 ||align="right"| 1,287,000,000 |- | 3. || [[Japan]] ||align="right"| 3.55 trillion ||align="right"| 28,000 ||align="right"| 127,215,000 |- | 4. || [[India]] ||align="right"| 2.66 trillion ||align="right"| 2,540 ||align="right"| 1,049,701,000 |- | 5. || [[Germany]] ||align="right"| 2.18 trillion ||align="right"| 26,600 ||align="right"| 82,399,000 |- | 6. || [[France]] ||align="right"| 1.54 trillion ||align="right"| 25,700 ||align="right"| 60,181,000 |- | 7. || [[United Kingdom]] ||align="right"| 1.52 trillion ||align="right"| 25,300 ||align="right"| 60,095,000 |- | 8. || [[Italy]] ||align="right"| 1.44 trillion ||align="right"| 25,000 ||align="right"| 57,998,000 |- | 9. || [[Russia]] ||align="right"| 1.35 trillion ||align="right"| 9,300 ||align="right"| 144,526,000 |- | 10. || [[Brazil]] ||align="right"| 1.34 trillion ||align="right"| 7,600 ||align="right"| 182,032,000 |- | 11. || [[South Korea]] ||align="right"| 931 billion ||align="right"| 19,400 ||align="right"| 48,249,000 |- | 12. || [[Canada]] ||align="right"| 923 billion ||align="right"| 29,400 ||align="right"| 32,207,000 |- | 13. || [[Mexico]] ||align="right"| 900 billion ||align="right"| 9,000 ||align="right"| 104,908,000 |- | 14. || [[Spain]] ||align="right"| 828 billion ||align="right"| 20,700 ||align="right"| 40,218,000 |- | 15. || [[Indonesia]] ||align="right"| 663 billion ||align="right"| 3,100 ||align="right"| 234,894,000 |- | 16. || [[Australia]] ||align="right"| 528 billion ||align="right"| 27,000 ||align="right"| 19,732,000 |- | 17. || [[Turkey]] ||align="right"| 468 billion ||align="right"| 7,000 ||align="right"| 68,110,000 |- | 18. || [[Iran]] ||align="right"| 456 billion ||align="right"| 7,000 ||align="right"| 68,279,000 |- | 19. || [[Netherlands]] ||align="right"| 434 billion ||align="right"| 26,900 ||align="right"| 16,151,000 |- | 20. || [[South Africa]] ||align="right"| 432 billion ||align="right"| 10,000 ||align="right"| 42,769,000 |- | 21. || [[Thailand]] ||align="right"| 429 billion ||align="right"| 6,900 ||align="right"| 70,000,000 |- | 22. || [[Republic of China|Taiwan (ROC)]] ||align="right"| 406 billion ||align="right"| 18,000 ||align="right"| 22,116,000 |- | 23 . || [[Argentina]] ||align="right"| 391 billion ||align="right"| 10,200 ||align="right"| 38,000,000 |- | 24. || [[Poland]] ||align="right"| 368 billion ||align="right"| 9,500 ||align="right"| 38,000,000 |- <!--THIS IS NOT YET FINISHED || 26. || [[Philippines]] ||align="right"| 356 billion ||align="right"| 4,200 ||align="right"| 210,116,000 |- | 27. || [[Pakistan]] ||align="right"| 311 billion ||align="right"| 2,100 ||align="right"| 210,116,000 |- | 28. || [[Belgium]] ||align="right"| 298 billion ||align="right"| 29,000 ||align="right"| 210,116,000 |- | 29. || [[Colombia]] ||align="right"| 268 billion ||align="right"| 6,500 ||align="right"| 210,116,000 |- | 30. || [[Egypt]] ||align="right"| 268 billion ||align="right"| 3,900 ||align="right"| 210,116,000 |- | 31. || [[Saudi Arabia]] ||align="right"| 242 billion ||align="right"| 10,500 ||align="right"| 210,116,000 |- | 32. || [[Bangladesh]] ||align="right"| 239 billion ||align="right"| 1,700 ||align="right"| 210,116,000 |- | 33. || [[Switzerland]] ||align="right"| 231 billion ||align="right"| 31,700 ||align="right"| 210,116,000 |- | 34. || [[Sweden]] ||align="right"| 227 billion ||align="right"| 25,400 ||align="right"| 210,116,000 |- | 35. || [[Austria]] ||align="right"| 226 billion ||align="right"| 27,700 ||align="right"| 210,116,000 |- | 36. || [[Ukraine]] ||align="right"| 218 billion ||align="right"| 4,500 ||align="right"| 210,116,000 |- | 37. || [[Malaysia]] ||align="right"| 210 billion ||align="right"| 9,300 ||align="right"| 210,116,000 |- | 38. || [[Greece]] ||align="right"| 201 billion ||align="right"| 19,000 ||align="right"| 210,116,000 |- | 39. || [[Hong Kong]] ||align="right"| 186 billion ||align="right"| 26,000 ||align="right"| 210,116,000 |- | 40. || [[Vietnam]] ||align="right"| 183 billion ||align="right"| 2,250 ||align="right"| 210,116,000 |- | 41. || [[Portugal]] ||align="right"| 182 billion ||align="right"| 18,000 ||align="right"| 210,116,000 |- | 42. || [[Algeria]] ||align="right"| 167 billion ||align="right"| 5,300 ||align="right"| 210,116,000 |- | 43. || [[Romania]] ||align="right"| 166 billion ||align="right"| 7,400 ||align="right"| 210,116,000 |- | 44. || [[Czech Republic]] ||align="right"| 156 billion ||align="right"| 15,300 ||align="right"| 210,116,000 |- | 45. || [[Denmark]] ||align="right"| 156 billion ||align="right"| 29,000 ||align="right"| 210,116,000 |- | 46. || [[Chile]] ||align="right"| 151 billion ||align="right"| 10,000 ||align="right"| 210,116,000 |- | 47. || [[Norway]] ||align="right"| 143 billion ||align="right"| 31,800 ||align="right"| 210,116,000 |- | 48. || [[Finland]] ||align="right"| 136 billion ||align="right"| 26,200 ||align="right"| 210,116,000 |- | 48. || [[Hungary]] ||align="right"| 135 billion ||align="right"| 13,300 ||align="right"| 210,116,000 |- | 49. || [[Venezuela]] ||align="right"| 133 billion ||align="right"| 5,500 ||align="right"| 210,116,000 |- | 50. || [[Peru]] ||align="right"| 132 billion ||align="right"| 4,800 ||align="right"| 210,116,000 |- | 51. || [[Israel]] ||align="right"| 122 billion ||align="right"| 19,000 ||align="right"| 210,116,000 |- | 52. || [[Republic of Ireland]] ||align="right"| 119 billion ||align="right"| 30,500 ||align="right"| 210,116,000 |- | 53. || [[Morocco]] ||align="right"| 115 billion ||align="right"| 3,900 ||align="right"| 210,116,000 |- | 54. || [[Nigeria]] ||align="right"| 663 billion ||align="right"| 875 ||align="right"| 210,116,000 |- | 55. || [[Kazakhstan]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 56. || [[Singapore]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 57. || [[Belarus]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 58. || [[New Zealand]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 59. || [[Sri Lanka]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 60. || [[Burma]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 61. || [[Slovakia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 62. || [[Uzbekistan]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 63. || [[Tunisia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 64. || [[Syria]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 65. || [[Iraq]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 66. || [[Dominican Republic]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 67. || [[United Arab Emirates]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 68. || [[Sudan]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 69. || [[Bulgaria]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 70. || [[Ethiopia]] ||align="right"| 663 billion ||align="right"| 20, ||align="right"| 210,116,000 |- | 71. || [[Guatemala]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 72. || [[United Arab Emirates]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 73. || [[United Arab Emirates]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 74. || [[Puerto Rico]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 75. || [[United Arab Emirates]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 76. || [[Ghana]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 77. || [[Ecuador]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 78. || [[Libya]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 79. || [[United Arab Emirates]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 80. || [[Croatia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 81. || [[Nepal]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 82. || [[Slovenia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 83. || [[Kuwait]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 84. || [[Democratic Republic of the Congo|Congo,(DR)]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 85. || [[Costa Rica]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 86. || [[Kenya]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 87. || [[Uganda]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 88. || [[El Salvador]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 89. || [[Lithuania]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 90. || [[Azerbaijan]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 91. || [[Cameroon]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 92. || [[Zimbabwe]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 93. || [[Uruguay]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 94. || [[Turkmenistan]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 95. || [[Cuba]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 96. || [[Serbia and Montenegro]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 97. || [[Paraguay]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 98. || [[Cτte d'Ivoire]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 99. || [[Jordan]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 100. || [[Tanzania]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 101. || [[Oman]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 102. || [[North Korea]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 103. || [[Bolivia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 104. || [[Latvia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 105. || [[Luxembourg]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 106. || [[Cambodia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 107. || [[Lebanon]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 108. || [[Afghanistan]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 109. || [[Honduras]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 110. || [[Panama]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 111. || [[Qatar]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 112. || [[Angola]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 113. || [[Senegal]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 114. || [[Guinea]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 115. || [[Yemen]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 116. || [[Estonia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 117. || [[Botswana]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 118. || [[Georgia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 119. || [[Albania]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 120. || [[Burkina Faso]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 121. || [[Kyrgyzstan]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 122. || [[Nicaragua]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 123. || [[Armenia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 124. || [[Namibia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 125. || [[Madagascar]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 126. || [[Haiti]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 127. || [[Trinidad and Tobago]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 128. || [[Moldova]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 129. || [[Chad]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 130. || F. Y. [[Republic of Macedonia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 131. || [[Jamaica]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 132. || [[Laos]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 133. || [[Bahrain]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 134. || [[Mali]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 135. || [[Cyprus]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 136. || [[Rwanda]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 137. || [[Zambia]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- | 138. || [[Niger]] ||align="right"| 663 billion ||align="right"| 20,138 ||align="right"| 210,116,000 |- |align="right"| THIS IS NOT YET FINISHED--> |} Source: [[CIA World Factbook]]: ''[http://www.odci.gov/cia/publications/factbook/fields/2001.html PPP]'', ''[http://www.odci.gov/cia/publications/factbook/fields/2004.html PPP/Capita]'', ''[http://www.odci.gov/cia/publications/factbook/fields/2119.html Population]'' == List of the biggest economies == (based on total GDP, PPP basis) #[[European Union]] 10.84 trillion #[[United States]] 10.40 trillion # [[People's Republic of China|China (mainland)]] 5.70 trillion # [[Japan]] 3.55 trillion # [[India]] 2.66 trillion # [[Russia]] 1.35 trillion # [[Brazil]] 1.34 trillion # [[South Korea]] 931 billion # [[Canada]] 923 billion # [[Mexico]] 900 billion (1) Although the European Union is not formally a nation, it is tied together with a [[Euro|single currency]] (excluding the [[United Kingdom|UK]], [[Sweden]] and [[Denmark]]) and is considered by some to be a single entity. The methodology for deriving accurate PPP comparisons remains under constant review, and questions have been raised as to whether the relative size of [[Mainland China]]'s GDP may be overstated to some extent. ==See also== * [[GDP deflator]] * [[Measures of national income]] * [[Natural gross domestic product]] ---- <small>This page is adapted from the [[Recyclopedia]] version under the clauses of [[GFDL]] </small>
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