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Gross domestic product based on purchasing-power-parity in current prices

(billion international dollars)

In 2017, GDP based on PPP in Cyprus was 31.78 billion international dollars. In the ranking by GDP based on PPP including 190 countries, Cyprus has the 125th rank that is close to the positions of such countries as Brunei Darussalam and the Equatorial Guinea. Compared to China which at the top of the ranking with GDP based on PPP of 23,208.22 billion international dollars in 2017, Cyprus has 99.86 % percent lower GDP based on PPP.

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What is GDP based on PPP?

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.