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

(international dollars)

In 2018, GDP per capita based on PPP in Australia was 52,373 international dollars. In the ranking by GDP per capita based on PPP including 188 countries, Australia has the 20th rank that is close to the positions of such countries as Germany and the Austria. Compared to Qatar which at the top of the ranking with GDP per capita based on PPP of 130,475 international dollars in 2018, Australia has 59.86 % percent lower GDP per capita based on PPP.

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What is GDP per capita based on PPP?

GDP per capita (PPP based) is gross domestic product converted to international dollars using purchasing power parity rates and divided by total population. 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.

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