South Asia Compared by Economy > GDP > Official exchange rate > Per capita
DEFINITION:
This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at offical exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis-a-vis its neighbors, judging that an exchange rate captures the purchasing power a nation enjoys in the international marketplace. Official exchange rates, however, can be artifically fixed and/or subject to manipulation - resulting in claims of the country having an under- or over-valued currency - and are not necessarily the equivalent of a market-determined exchange rate. Moreover, even if the official exchange rate is market-determined, market exchange rates are frequently established by a relatively small set of goods and services (the ones the country trades) and may not capture the value of the larger set of goods the country produces. Furthermore, OER-converted GDP is not well suited to comparing domestic GDP over time, since appreciation/depreciation from one year to the next will make the OER GDP value rise/fall regardless of whether home-currency-denominated GDP changed. Per capita figures expressed per 1 population.
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Interesting observations about Economy > GDP > Official exchange rate > Per capita
- Liechtenstein ranked first for GDP > official exchange rate > per capita amongst Cold countries in 2008.
- 11 of the bottom 131 countries by GDP > official exchange rate > per capita are European.
- 12 of the bottom 205 countries by GDP > official exchange rate > per capita are Western European.
- 100 of the bottom 205 countries by GDP > official exchange rate > per capita are Christian.
- 20 of the bottom 129 countries by GDP > official exchange rate > per capita are Catholic.
- 26 of the bottom 75 countries by GDP > official exchange rate > per capita are Landlocked.