The International Comparison Program (shortened ICP) is a partnership of various statistical administrations of up to 199 countries guided by the
World Bank
The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...
. The main partners of this program are the
World Bank
The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...
,
IMF
The International Monetary Fund (IMF) is a major financial agency of the United Nations, and an international financial institution funded by 191 member countries, with headquarters in Washington, D.C. It is regarded as the global lender of la ...
,
UN,
ADB,
OECD
The Organisation for Economic Co-operation and Development (OECD; , OCDE) is an international organization, intergovernmental organization with 38 member countries, founded in 1961 to stimulate economic progress and international trade, wor ...
,
CISSTAT,
Eurostat
Eurostat ("European Statistical Office"; also DG ESTAT) is a department of the European Commission ( Directorate-General), located in the Kirchberg quarter of Luxembourg City, Luxembourg. Eurostat's main responsibilities are to provide statist ...
,
AfDB ESCWA,
ECLAC,
DFID,
ABS,
IDB,
NMoFA who are also all part of the executive board.
The Program produces internationally comparable price and volume measures for gross domestic product (
GDP). Its component expenditures are based on purchasing power parities (
PPPs). The International Comparison Program holds surveys collecting price and expenditure data for the entire range of final goods and services at intervals of some few years (the last two were separated by six years). The surveys cover GDPs of countries including their consumer goods, services, government services and capital goods. The ICP tries to make different countries GDPs comparable by calculating them in PPP both currency converters and spatial price deflators.
The responsibility for the ICP within regions is shared between the national and regional agencies which represent various countries. National statistical offices carry out data collection but regional agencies provide guidance, collection, coordinating of data and data validation. Regional agencies also put together and finalize the regional comparisons.
The ICP has published its PPP results eight times so far – the first time for 1970 (a preliminary study for 1967 was also carried out) and the latest for 2011.
See also
*
Big Mac Index
The Big Mac Index is a price index published since 1986 by ''The Economist'' as an informal way of measuring the purchasing power parity (PPP) between two currency, currencies and providing a test of the extent to which market exchange rates re ...
*
International dollar
The international dollar (int'l dollar or intl dollar, symbols Int'l$., Intl$., Int$), also known as Geary–Khamis dollar (symbols G–K$ or GK$), is a hypothetical unit of currency that has the same purchasing power parity that the U.S. doll ...
*
List of countries by GDP (PPP)
GDP (PPP) means gross domestic product based on purchasing power parity.
This article includes a list of countries by their forecast estimated GDP (PPP). Countries are sorted by GDP (PPP) forecast estimates from financial and statistical ...
*
List of countries by GDP (PPP) per capita
A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year ...
*
Measures of national income and output
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), Gross national income (GNI), net national income (NNI), and adjusted nati ...
*
Purchasing power parity
Purchasing power parity (PPP) is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currency, currencies. PPP is effectively the ratio of the price of a market bask ...
*
Relative purchasing power parity
*
World Bank
The World Bank is an international financial institution that provides loans and Grant (money), grants to the governments of Least developed countries, low- and Developing country, middle-income countries for the purposes of economic development ...
References
{{reflist
External links
*http://icp.worldbank.org/#
*http://web.worldbank.org/WBSITE/EXTERNAL/DATASTATISTICS/ICPEXT/0,,contentMDK:22377119~menuPK:62002075~pagePK:60002244~piPK:62002388~theSitePK:270065,00.html
*http://www.imf.org/external/pubs/ft/weo/faq.htm#q4c
*http://web.worldbank.org/WBSITE/EXTERNAL/DATASTATISTICS/ICPEXT/0,,contentMDK:22377133~pagePK:60002244~piPK:62002388~theSitePK:270065,00.html
Gross domestic product
World Bank