![]() ![]() The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment) as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. 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. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms. This entry provides the total US dollar amount of merchandise exports on an f.o.b. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends. This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. No date was available from the Wikipedia article, so we used the date of retrieval. Debt > Government debt > Public debt, share of GDP:.Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits. Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money. A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). This entry records the difference between national government revenues and expenditures, expressed as a percent of GDP. Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
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