GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates.
What are the leading international institutions expecting in the years ahead for the world’s economies? How will demographic profiles shift by world region? Which countries are at the precipice of becoming world-scale natural resource producers? Explore global forecasts with Knoema!