What is the India’s rank in purchasing power parity?

What is the India’s rank in purchasing power parity?

In terms of GDP by purchasing power parity (PPP) basis, India is ranked 3rd in the world with $8.9 trillion.

Which country has the highest purchasing power parity?

In 2020, Luxembourg had the largest gross domestic product (GDP) per capita at purchasing power parity. The country ranked first with a PPP-adjusted GDP per capita of about 117,983 international dollars.

What is purchasing power parity with example?

This means that goods in each country will cost the same once the currencies have been exchanged. For example, if the price of a Coca Cola in the UK was 100p, and it was $1.50 in the US, then the GBP/USD exchange rate should be 1.50 (the US price divided by the UK’s) according to the PPP theory.

What is the GDP PPP of India in 2021?

Based on PPP, the GDP per capita of India is projected at 7,333 International dollars in 2021. It is almost 40% of the world gdp per capita. The world rank is 128, and the Asian rank is 31.

What is the PPP of Pakistan?

GDP per capita PPP in Pakistan averaged 3697.54 USD from 1990 until 2020, reaching an all time high of 4739.47 USD in 2018 and a record low of 2915.90 USD in 1990.

Which country has the lowest PPP?

GDP per capita, Purchasing Power Parity, 2020 – Country rankings: The average for 2020 based on 183 countries was 20205.18 U.S. dollars. The highest value was in Luxembourg: 112557.31 U.S. dollars and the lowest value was in Burundi: 731.06 U.S. dollars. The indicator is available from 1990 to 2020.

Why is China’s PPP so high?

China has the world’s largest population. When you multiply a medium income per capita by a billion “capita,” you get a large number. The combination of a very large population and a medium income gives it economic power, and also political power.

Is India a developed country?

India is an emerging and developing country (EDC) found in southern Asia. It is the world’s largest democracy , and one of the world’s fastest growing economies.

What is PPP formula?

Purchasing power parity refers to the exchange rate of two different currencies in equilibrium. The PPP formula is calculated by multiplying the cost of a particular product or service with the first currency by the price of the same goods or services in U.S. dollars.

What is PPP per capita?

GDP per capita based on purchasing power parity (PPP). PPP GDP is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as the U.S. dollar has in the United States.

How do you calculate PPP of a country?

The basic-heading PPP for each pair of economies can be computed directly by taking the geometric mean of the price relatives between them for the two kinds of rice. This is a bilateral comparison. The PPP between economies B and A can be computed indirectly: PPP C/A × PPP B/C = PPP B/A.

Is India a rich country 2021?

According to the report by New World Wealth, India has been ranked seventh in the list of top 10 wealthiest countries in the world, which was topped by the United States with total individual wealth of $48,700 billion. “India only makes the W10 (10 wealthiest) due to its large population.

What is China’s PPP?

GDP per capita PPP in China averaged 7004.51 USD from 1990 until 2020, reaching an all time high of 16410.80 USD in 2020 and a record low of 1423.90 USD in 1990.

What is India GDP today?

(Current US Dollars). Sources include: World Bank, United Nations. Nominal (current) Gross Domestic Product (GDP) of India is $2,650,725,335,364 (USD) as of 2017.

What is the PPP of Bangladesh?

GDP per capita PPP in Bangladesh averaged 2627.95 USD from 1990 until 2020, reaching an all time high of 4818.10 USD in 2020 and a record low of 1517.73 USD in 1990.

What is India’s per capita?

The per capita income at current prices had dipped to Rs 1.27 lakh in 2020-21 from Rs 1.32 lakh in 2019-20. India’s annual per capita income at constant prices remained below the pre-COVID level at Rs 91,481 in 2021-22, official data showed on Tuesday.

Is Pakistan a 3rd world country?

According to the modern definition of a third-world country, Pakistan is a third-world country. Pakistan has a low GDP per capita, and a significant portion of Pakistan’s population is living in poverty.