East Asia and Pacific Compared by Economy > GDP > Official exchange rate
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DEFINITION:
This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at offical exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis-a-vis its neighbors, judging that an exchange rate captures the purchasing power a nation enjoys in the international marketplace. Official exchange rates, however, can be artifically fixed and/or subject to manipulation - resulting in claims of the country having an under- or over-valued currency - and are not necessarily the equivalent of a market-determined exchange rate. Moreover, even if the official exchange rate is market-determined, market exchange rates are frequently established by a relatively small set of goods and services (the ones the country trades) and may not capture the value of the larger set of goods the country produces. Furthermore, OER-converted GDP is not well suited to comparing domestic GDP over time, since appreciation/depreciation from one year to the next will make the OER GDP value rise/fall regardless of whether home-currency-denominated GDP changed.
CONTENTS
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# | COUNTRY | AMOUNT | DATE | GRAPH | HISTORY |
---|---|---|---|---|---|
1 | China | $8.11 trillion | 2013 | ||
2 | Japan | $5.88 trillion | 2012 | ||
3 | Australia | $1.52 trillion | 2012 | ||
4 | South Korea | $1.11 trillion | 2012 | ||
5 | Indonesia | $866.70 billion | 2012 | ||
6 | Taiwan | $467.70 billion | 2012 | ||
7 | Thailand | $361.00 billion | 2012 | ||
8 | Malaysia | $300.60 billion | 2012 | ||
9 | Singapore | $272.80 billion | 2012 | ||
10 | Philippines | $246.80 billion | 2012 | ||
11 | New Zealand | $167.50 billion | 2012 | ||
12 | Vietnam | $153.50 billion | 2012 | ||
13 | Burma | $54.53 billion | 2012 | ||
14 | North Korea | $28.00 billion | 2009 | ||
15 | Brunei | $16.72 billion | 2012 | ||
16 | Papua New Guinea | $14.93 billion | 2012 | ||
17 | Cambodia | $13.93 billion | 2012 | ||
18 | Mongolia | $10.12 billion | 2012 | ||
19 | Laos | $9.05 billion | 2012 | ||
20 | East Timor | $6.21 billion | 2013 | ||
21 | Fiji | $3.97 billion | 2012 | ||
22 | Solomon Islands | $983.50 million | 2012 | ||
23 | Vanuatu | $776.40 million | 2012 | ||
24 | Samoa | $680.70 million | 2012 | ||
25 | Tonga | $464.60 million | 2012 | ||
26 | Federated States of Micronesia | $321.60 million | 2012 | ||
27 | Palau | $221.00 million | 2011 | ||
28 | Marshall Islands | $179.50 million | 2012 | ||
29 | Kiribati | $172.60 million | 2012 | ||
30 | Tuvalu | $39.46 million | 2012 |