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To: tictoc
From the CIA World Factbook 2002 . ….

In the Economy section, GDP dollar estimates for all countries are derived from purchasing power parity (PPP) calculations rather than from conversions at official currency exchange rates. The PPP method involves the use of standardized international dollar price weights, which are applied to the quantities of final goods and services produced in a given economy. The data derived from the PPP method provide the best available starting point for comparisons of economic strength and well-being between countries.

The CIA think their numbers are good. Don't you believe the numbers you posted?

78 posted on 09/19/2003 10:31:21 AM PDT by Duan
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To: Duan
The CIA think their numbers are good. Don't you believe the numbers you posted?

What? Please re-read my #57. According to the notes from the CIA World Factbook on "GDP methodology": "In developing countries with weak currencies the exchange rate estimate of GDP in dollars is typically one-fourth to one-half the PPP estimate."

In other words, if you convert Egypt's GDP into dollars at the official exchange rate, it might turn out to be as low as $70 billion instead of $268 billion. That's all.

80 posted on 09/19/2003 11:03:31 AM PDT by tictoc
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