• Monday, November 18, 2019

New IMF data: Turkey crossed $2 trillion mark in PPP (now 13th largest in the world)

Discussion in 'Turkish Defence Forum' started by AUz, Apr 22, 2017.

  1. UkroTurk

    UkroTurk SENIOR MEMBER

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    The 2015 was extremely bad for Russia .
    [​IMG]
    The worlds GDP-is-around-74-trillion

    [​IMG]

    [​IMG]

    2 trillion usd GDP for Turkish economy :yay::guns:

    According the Bloomberg may be in the 2030s.
    [​IMG]
     
    Last edited: Apr 25, 2017
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  2. BordoEnes

    BordoEnes SENIOR MEMBER

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    I agree. PPP measurements are pretty useless and obsolete. Nominal is the one who counts the most and we arent really doing well with that lately as well.
     
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  3. Martin Peterson

    Martin Peterson FULL MEMBER

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    Incorrect, PPP is actually the most reliable GDP indicator primarily because it doesn't fluctuate based on the USD value and is consistent, Nominal figures can change overnight depending on the value of the currency while PPP tracks the real production power of an economy.

    To summarise Nominal is best for working out the trading power of a nation while PPP tells us the true production power of an economy/true size of the economy:
    https://www.awaragroup.com/blog/despite-sanctions-russias-gdp-shoots-over-4-trillion/

    Anyway congratulations on Turkey's achievements but from the looks of it there seems to be an unnecessary pessimism among the Turkish community of this website, I say unnecessary because there is real improvement in your country and one should be objective and not have an overly optimistic or pessimistic attitude to it.

    In other words have some balance in your viewpoints.
     
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  4. Saithan

    Saithan SENIOR MEMBER

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    only way to improve is to reflect and expect better performance. :)
     
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  5. Shamsher1990

    Shamsher1990 BANNED

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    Quite the opposite.

    Do you really believe that Russian economy has become half the size it was at its peak?
     
    Last edited: Aug 3, 2018
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  6. DemirkanTR

    DemirkanTR FULL MEMBER

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    As other forumer answered, reality is quite opposite of what you said. If nominal GDP counts, it'd seem that I earn less than a waiter in USA. But when we also consider purchase power, we can explain why I can have more comfortable life than a waiter in USA. So, PPP counts, not nominal.
     
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  7. haidian

    haidian BANNED

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    China is far ahead of US in PPP, but In China few people know what PPP is and if you tell them that China is way ahead of US in GDP, they'll think you must be smoking something.
     
  8. DemirkanTR

    DemirkanTR FULL MEMBER

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    Well, communists are not counted! :)

    A Chinese (I assume that he/she is not economist and has poor knowledge about economics) would like think because of your economic system and unfair distribution of income. PPP is better indicator for wealth (Even it can explain to rest of the world how those too low hourly wages would work for Chinese people!)

    In nominal understanding an American would think a Chinese can't make with those wages, but they can. And it's because of purchase power. Got it?
     
    Last edited: Aug 4, 2018
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  9. Martin Peterson

    Martin Peterson FULL MEMBER

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    Thats because in China your people don't know about the different measures that measure an economy but your government knows very well but refuses to tell you.
     
  10. AZADPAKISTAN2009

    AZADPAKISTAN2009 ELITE MEMBER

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    Congrats to Turkey on their achievement
     
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  11. Martin Peterson

    Martin Peterson FULL MEMBER

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    Also the United States compared to other developed countries for example Japan actually has a low standard of living, therefore Turkish people shouldn't aim to surpass the US but rather countries like the Scandinavians in living standards and if you want a more impossible target aim for something like Singapore, which has both one of the worlds highest living standards as well as one of the highest purchasing power as well.

    The United States is an incredibly unequal society and the only reason people compare to it is because it is so powerful across all metrics, just not in living standards, aim higher.
     
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