G7's, EU, China Real PPP GDP - Yearly

Chart Description

Gross Domestic Product (GDP) is a measure of the market value of all final goods and services produced by a nation in some time period. GDP is often thought of as the "size" of the economy. This chart shows annual, real (inflation adjusted) GDP in International Dollars (intl$) for the G7 countries, the European Union, and China. The vertical axis uses a log scale to better illustrate the relative size of value changes. This chart shows one view of the relative sizes of these economies and their change in size over time. (See G7s, EU, China Real USD GDP - Yearly for an exchange rate weighted view.) The data in this chart comes from the World Bank Indicator NY.GDP.MKTP.PP.KD. International Dollars are calculated for each currency by converting into U.S. dollars using Purchasing Power Parity (PPP). Purchasing Power Parity is determined by the price of a basket of goods. So, if the basket of goods cost 1000 U.S. dollars in the U.S. and the same basket of goods cost 500 Yuan in China, then 500 Yuan of GDP in China would be converted into 1000 U.S. dollars using PPP.

Data Source Links

• external: World Bank Indicator NY.GDP.MKTP.PP.KD

Context Links

• mccormick-charts.com: G7s, EU, China Real PPP GDP - Yearly

• external: Gross Domestic Product, Group of Seven, International Dollars, Purchasing Power Parity

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