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GDP comparisons using PPP are arguably more useful than those using nominal GDP when assessing the domestic market of a state because PPP takes into account the relative cost of local goods, services and inflation rates of the country, rather than using international market exchange rates, which may distort the real differences in per capita ...
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. Countries with high budget deficits (relative to their GDPs) generally have more difficulty raising funds to finance expenditures, than those with lower deficits." [12]
Comparisons of national wealth are frequently made based on nominal GDP and savings (not just income), which do not reflect differences in the cost of living in different countries (see List of countries by GDP (nominal) per capita); hence, using a PPP basis is arguably more useful when comparing generalized differences in living standards ...
Comparisons of national wealth are also frequently made based on purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. Other metrics, nominal GDP per capita and a corresponding GDP (PPP) per capita are used for comparing national standard of living. On the whole, PPP per capita figures are less ...
This is a list of countries by nominal GDP per capita. GDP per capita is often considered an indicator of a country's standard of living; [1] [2] however, this is inaccurate because GDP per capita is not a measure of personal income. Measures of personal income include average wage, real income, median income, disposable income and GNI per capita.
International comparisons, or national evaluation indicators, focuses on the quantitative, qualitative, and evaluative analysis of one country in relation to others. Often, the objective is to compare one country's performance to others in order to assess what countries have achieved, what needs to change in order for them to perform better, or a country's progress in reaching certain objectives.
For the purposes of comparison the broader definition of Europe will be used. A sovereign state must meet at least one of the following criteria to be included: Be a recognised European state by the United Nations geoscheme for Europe; Be a member state of the European Union; Be a member state of the Eurozone; Be a member state of the Council ...