List of Muslim Countries by GDP Purchasing Power Parity (2020—2024)

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There are only five countries in the world with a bigger GDP (PPP) than Indonesia—the largest and most powerful Muslim economy.
GDP (PPP) is an economic indicator that gauges how powerful economies are according to local buying power. In the words of the The World Bank logo.svg.png World Bank, it is "the number of units of a country's currency required to buy the same amount of goods and services in the domestic market" compared to the 800px-Flag of the United States.svg.png United States market; based on the US dollar.[1] In other words, purchasing power parity takes into account the local differences in prices between countries and equalises them to the US economy. If a bottle of milk for instance costs a $1.00 dollar in the US, but can be bought for $0.20 cents in say for example Pakistan Flag.jpg Pakistan, then Pakistani spending power is worth approximately five times ($5.00) as much as that of the average US citizen. Thus it gives a better measure of the strength of a country rather than simply relying on nominal GDP (which is the amount of actual money a country trades annually). Using this method of measuring GDP, it is clear that the Islamic World in particular isn't in as bad of a shape as is thought, but instead has been making remarkable progress over the years. Particularly strong countries include Flag-Indonesia.jpg Indonesia, Flag of Turkey.svg.png Turkey, 800px-Flag of Malaysia.svg.png Malaysia and 800px-Flag of Saudi Arabia.svg.png Saudi Arabia. Indonesia is particularly notable, as it makes up a significant part of the GDP (PPP) of the Muslim world at approximately one-quarter ($4.02 trillion dollars).[2] What is perhaps more remarkable is that Indonesia is a non-oil based economy,[3] that also surpasses the GDP (PPP) of 1500px-Flag of France.svg.png France.[4] The second highest Muslim country on the list, Turkey is worth about $2.38 trillion dollars. Combined, the top 9 Muslim countries total $16.06 trillion dollars. This is much more than Flag of India.svg.png India, but less than the US and 800px-Flag of the People's Republic of China.svg.png China.[5]
There are only five countries in the world with a bigger GDP (PPP) than Indonesia—the largest and most powerful Muslim economy.

GDP (PPP) is an economic indicator that gauges how powerful economies are according to local buying power. In the words of the The World Bank logo.svg.png World Bank, it is "the number of units of a country's currency required to buy the same amount of goods and services in the domestic market" compared to the 800px-Flag of the United States.svg.png United States market; based on the US dollar.[1] In other words, purchasing power parity takes into account the local differences in prices between countries and equalises them to the US economy. If a bottle of milk for instance costs a $1.00 dollar in the US, but can be bought for $0.20 cents in say for example Pakistan Flag.jpg Pakistan, then Pakistani spending power is worth approximately five times ($5.00) as much as that of the average US citizen. Thus it gives a better measure of the strength of a country rather than simply relying on nominal GDP (which is the amount of actual money a country trades annually). Using this method of measuring GDP, it is clear that the Islamic World in particular isn't in as bad of a shape as is thought, but instead has been making remarkable progress over the years. Particularly strong countries include Flag-Indonesia.jpg Indonesia, Flag of Turkey.svg.png Turkey, 800px-Flag of Malaysia.svg.png Malaysia and 800px-Flag of Saudi Arabia.svg.png Saudi Arabia. Indonesia is particularly notable, as it makes up a significant part of the GDP (PPP) of the Muslim world at approximately one-quarter ($4.02 trillion dollars).[2] What is perhaps more remarkable is that Indonesia is a non-oil based economy,[3] that also surpasses the GDP (PPP) of 1500px-Flag of France.svg.png France.[4] The second highest Muslim country on the list, Turkey is worth about $2.38 trillion dollars. Combined, the top 9 Muslim countries total $16.06 trillion dollars. This is much more than Flag of India.svg.png India, but less than the US and 800px-Flag of the People's Republic of China.svg.png China.[5]

List of Muslim Countries by GDP Purchasing Power Parity (2020—2024)

Top 9 Muslim Economies (i.e. Those Who Have Surpassed or Are Expected to Surpass $1 Trillion Dollars in Annual GDP PPP Trade)

Figures

Past Reading

Sources

References

  1. ^ a b Price level ratio of PPP conversion factor (GDP) to market exchange rate. World Bank (The World Bank Group). Retrieved May 21st, 2016.
  2. ^ a b c Comoros to Kosovo GDP (PPP) - Part 2 - Report for Selected Countries and Subjects (World Economic Outlook Database, April 2019). International Monetary Fund (IMF). WayBackMachine Link. Retrieved September 16th, 2019.
  3. ^ a b Alexander Simoes (Last Accessed September 19th, 2019). What does Indonesia export? (2017). The Observatory of Economic Complexity. [WayBackMachine Link (Not Archiveable Unfortunately]. Retrieved September 19th, 2019.
  4. ^ a b Report for Selected Countries and Subjects (France and Indonesia). International Monetary Fund (IMF). Archive.is Link. Retrieved September 19th, 2019.
  5. ^ a b c d e China, US, India GDP (PPP) - Report for Selected Countries and Subjects (World Economic Outlook Database, April 2019). International Monetary Fund (IMF). WayBackMachine Link. Retrieved September 16th, 2019.
  6. ^ Indonesia Population (LIVE). Worldometers. Archive.is Link. Retrieved September 19th, 2019.
  7. ^ Turkey Population (LIVE). Worldometers. Archive.is Link. Retrieved September 19th, 2019.
  8. ^ Saudi Arabia Population (LIVE). Worldometers. Archive.is Link. Retrieved September 19th, 2019.
  9. ^ Iran Population (LIVE). Worldometers. Archive.is Link. Retrieved September 19th, 2019.
  10. ^ Egypt Population (LIVE). Worldometers. Archive.is Link. Retrieved September 19th, 2019.
  11. ^ Nigeria Population (LIVE). Worldometers. Archive.is Link. Retrieved September 19th, 2019.
  12. ^ Pakistan Population (LIVE). Worldometers. Archive.is Link. Retrieved September 19th, 2019.
  13. ^ Malaysia Population (LIVE). Worldometers. Archive.is Link. Retrieved September 19th, 2019.
  14. ^ Bangladesh Population (LIVE). Worldometers. Archive.is Link. Retrieved September 19th, 2019.
  15. ^ Afghanistan to Chad GDP (PPP) - Part 1 - Report for Selected Countries and Subjects (World Economic Outlook Database, April 2019). International Monetary Fund (IMF). WayBackMachine Link. Retrieved September 16th, 2019.
  16. ^ a b Kuwait to Tunisia GDP (PPP) - Part 3 and Part 4 - Report for Selected Countries and Subjects (World Economic Outlook Database, April 2019). International Monetary Fund (IMF). WayBackMachine Link. Retrieved September 16th, 2019.
  17. ^ Turkey to Yemen GDP (PPP) - Part 5 - Report for Selected Countries and Subjects (World Economic Outlook Database, April 2019). International Monetary Fund (IMF). WayBackMachine Link. Retrieved September 16th, 2019.

External Links

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