GDP PPP: In this figure, annual per capita gross domestic product (GDP) – the total output of goods and services a country produces for home use in a year – is divided by the country’s population.
For comparative purposes, that figure is adjusted for purchasing power parity (PPP), which involves using standardized international dollar price weights that are applied to the quantities of final goods and services produced in a given economy. The resulting measure, per capita GDP PPP, provides the best available starting point for comparing economic strength and well-being between countries.