GDP per capita based on purchasing power parity is gross domestic product converted to international dollars using purchasing power parity rates.
GDP at the purchaser's prices is the sum of the gross value added to the economy by all resident producers, plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for the depreciation of fabricated assets or for the depletion and degradation of natural resources. Data are in current international dollars.
GDP (or GDP per capita) is not a measurement of the standard of living or of personal income, as GDP may increase while real incomes for the majority decline. Bhutan's Gross National Happiness Index or the OECD's Better Life Index are examples of how economic progress could be measured in different ways.
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