The University of Pennsylvania World Tables 7.0 are the latest thorough analysis of purchasing power parity. The tables analyzed pricing data from 2009. The World Bank/IMF purchasing power parity numbers were from a comparative survey from 2005. It is generally recognized that the World Bank 2005 numbers had a large error by not properly pricing rural prices. This caused the prices in China to seem higher with an over emphasis on high priced cities like Shanghai.
Country Penn Table 7 Adjust Penn 2009 PPP in Billions Adjusted IMF 2012 US 0 14000 15610 China +28.9% 11682 15954 Japan +0.65% 4174 4619 India +14.1% 4151 5055 Germany +5.5% 2965 3332 UK +7.7% 2294 2486 France +6.4% 2215 2401 Russia +3.7% 2199 2604 Italy +6.8% 1868 1960 Brazil -9.8% 1829 2180 Mexico -2.3% 1433 1704 S Korea -5.5% 1294 1545 Spain +5.3% 1431 1479 Canada +5.5% 1341 1515 Indonesia +9.3% 1053 1321
IMF Unadjusted Chart
The Penn World Table 7 adjustments has China passing the US for leading PPP GDP in 2012 with 15.954 trillion in China versus the US 15.61 trillion.
India’s adjusted 2012 PPP GDP 5.055 trillion.
Japan’s adjusted 2012 PPP GDP 4.619 trillion.
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