Palau vs Tuvalu: GDP, PPP
GDP, PPP over time
- Palau
- Tuvalu
How they compare
Palau currently reports 347.94 million constant 2021 international $ against 54.83 million constant 2021 international $ in Tuvalu, a difference of 293.11 million constant 2021 international $.
That makes Palau's figure about 6.3 times Tuvalu's.
Across all 36 years both countries report, Palau has been ahead every year.
Globally, Palau ranks 196th and Tuvalu ranks 199th of 199 countries.
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About this data
This indicator provides values for gross domestic product (GDP) expressed in constant international dollars, converted by purchasing power parities (PPPs). PPPs account for the different price levels across countries and thus PPP-based comparisons of economic output are more appropriate for comparing the output of economies and the average material well-being of their inhabitants than exchange-rate based comparisons. Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2021. The PPP conversion factor is a currency conversion factor and a spatial price deflator. PPPs convert different currencies to a common currency and, in the process of conversion, equalize their purchasing power by eliminating the differences in price levels between countries, thereby allowing volume or output comparisons of GDP and its expenditure components.