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IR - One Definition A Day: Japan - Third-Largest Economy by GDP

IR - One Definition A Day : List of countries by GDP

This article includes a list of countries of the world sorted by their gross domestic product (GDP), the market value of all final goods and services from a nation in a given year. The GDP dollar estimates presented here are calculated at market or government officialexchange rates.
The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. Therefore these figures should be used with caution.
Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. (See List of countries by GDP (PPP).) PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than GDP per capita. On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures.
Several economies which are not considered to be countries (world, the EU, Eurozone, and some dependent territories) are included in the list because they appear in the sources. These economies are not ranked in the charts here, but are listed.

  • List of countries by GDP (nominal)
Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency.[2] Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.[3] Therefore these figures should be used with caution.
Comparisons of national wealth are also frequently made on the basis of purchasing power parity(PPP), to adjust for differences in the cost of living in different countries. PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP.[4] On the whole, PPP per capita figures are less spread than nominal GDP per capita figures.[5]
The United States is the world's largest national economy with a GDP of approximately $16.8 trillion, due to high average incomesa large population,[6] capital investment, moderate unemployment,[7] high consumer spending,[8] a relatively young population,[9] and technological innovation.[10] Tuvalu is the world's smallest national economy with a GDP of about $40 million because of its very small population, a lack of natural resources, reliance on foreign aid, negligible capital investment, demographic problems, and low average incomes.[11]
The first list includes data compiled by the United Nations Statistics Division for 2013, the second list largely includes data (estimate) compiled by the International Monetary Fund's World Economic Outlook for 2013, the third list shows the World Bank's 2013 estimates, and the fourth list includes mostly 2013 estimates from theThe World Factbook by the Central Intelligence Agency. Several economies which are not considered to be countries (world, international unions, and somedependent territories) are included in the lists because they appear in the sources. These economies are italicized and not ranked in the charts, but are listed where applicable.

(Source: http://en.wikipedia.org/wiki/List_of_countries_by_GDP_%28nominal%29#Lists)



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