From the April 29, 2014 Press Release:
The International Comparison Program (ICP) released new data today
showing that the world economy produced goods and services worth over
$90 trillion in 2011, and that almost half of the world’s total output
came from low and middle income countries.
Under the authority of the United Nations Statistical Commission, the
2011 round of ICP covered 199 economies - the most extensive effort to
measure Purchasing Power Parities (PPPs) across countries ever. ICP 2011
estimates benefited from a number of methodological improvements over
past efforts to calculate PPPs.
The ICP’s principal outputs are PPPs for 2011 and estimates of
PPP-based gross domestic product (GDP) and its major components in
aggregate and per capita terms. When converting national economic
measures (e.g. GDP), into a common currency, PPPs are a more direct
measure of what money can buy than exchange rates.
ICP implementation was led and coordinated by the ICP Global Office,
hosted by the World Bank, in partnership with regional agencies
overseeing activities in eight geographic regions: Africa, Asia and the
Pacific, Commonwealth of Independent States (CIS), Latin America, the
Caribbean, Western Asia, Pacific Islands, and the countries of the
regular PPP program managed by the Statistical Office of the European
Communities (Eurostat) and the Organization for Economic Cooperation and
Development (OECD). In addition, two “singleton” economies, Georgia and
Iran, participated in bilateral exercises with partner economies,
without being part of any regional comparisons.
Source: World Bank ICP
Download the
Summary of Results and Findings of the 2011 International Comparison Program (PDF) published April 30, 2014
Read the press release