Largest Economies in the world by GDP (Purchasing Power Parity ) 2023

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This Video provides the Richest countries in the world ranked by their forecasted GDP (PPP), which is a measure of a country's economic output based on purchasing power parity. Do not confuse a country by nominal GDP. This method takes into account the relative cost of local goods, services, and inflation rates within a country, rather than using international market exchange rates. This can provide a more accurate picture of a country's domestic market when compared to using nominal GDP. However, it is important to note that GDP comparisons using PPP have limitations when measuring financial flows between countries and when comparing the quality of same goods among countries. Additionally, PPP is often used as a gauge for global poverty thresholds and is utilized by the United Nations in constructing the human development index. These surveys, such as the International Comparison Program, attempt to estimate a representative basket of goods by including both tradable and non-tradable goods. It's worth mentioning that certain regions that are not widely considered countries such as the European Union and Hong Kong also show up in the list if they are distinct jurisdiction areas or economic entities.