China is the top country by GDP based on PPP in the world. As of 2017, GDP based on PPP in China was 23,208.22 billion international dollars that accounts for 18.23 % of the world's GDP based on PPP. The top 5 countries (others are the United States of America, India, Japan, and Germany) account for 48.54 % of it. The world's total GDP based on PPP was estimated at 127,335.61 billion international dollars in 2017.The description is composed by Yodatai, our digital data assistant. Have a question? Ask Yodatai ›
GDP (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates. An international dollar has the same purchasing power over GDP as a U.S. dollar has in the United States. A purchasing power parity (PPP) between two countries, A and B, is the ratio of the number of units of country A’s currency needed to purchase in country A the same quantity of a specific good or service as one unit of country B’s currency will purchase in country B. PPPs can be expressed in the currency of either of the countries. In practice, they are usually computed among large numbers of countries and expressed in terms of a single currency, with the U.S. dollar (US$) most commonly used as the base or "numeraire" currency.