Indonesia is the 4th most populous country in the world and Iran is a huge country with lots of people that also happens to be among the top energy exporting countries in the world.
Still is. Even with sanctions in place they are still top 10-20 in the world for exports of oil, natural gas, and electricity. They produce so much of all three that they could meet their own energy needs about 20x over for the foreseeable future, and people still believe the nuclear program is for energy.
Dudi..because I'm not a fool. Like I said they have HUGE surpluses of oil, natural gas, and electricity. They're also on the cutting edge in terms of geothermal power. Their economy is in the shitter and they have no reason at all to be investing resources into nuclear energy, especially given all the trouble this has caused for then internationally. You'd have to be an infant to think that Iran wants nuclear power to meet its energy needs.
In 2011 the Rand Corporation surveyed Iranian citizens and found that 41% strongly opposed development of nuclear weapons, while 32% strongly favored it. By contrast, 87% strongly support developing nuclear energy for civilian use. As the country is ruled by an ayatollah with supreme authority and no checks on his power, I'm not sure if public opinion really matters, though. And I'm sure that the government has many people there believing in their bullpoop.
oh.... I figured it out.... that "purchasing power parity" BS.... That's baloney. Who cares how much stuff the people in the country can buy with their money? That doesn't have any objective effect on the real size of the economy compared to the rest of the world. But.. okay.
Completely agree. PPP makes some sense when comparing standard of living of individuals within countries, but no sense when comparing economies between countries!
Missed South Korea...I feel as if I always miss South Korea on everything. I'll do a mental tour of the world and manage to forget about that small but somewhat significant peninsula.
2 things confuse me here: 1) Your choice of PPP instead of nominal. 2) The text on the front page saying "In a few more years, we might have a new #1." According to GDP PPP, China is the #1 and will remain there for decades.
D'oh! A few years happened, and now we do have a new #1, (at least in terms of PPP). As to PPP vs nominal, I think PPP is better because currency fluctuations matter less. The Canadian dollar recently declined from about $1 USD to about 75 cents. Using nominal GDP, this would mean that Canada's GDP declined by 25%. But of course this never happened. The actual amount of goods and services that Canada produced didn't vary nearly as much.
But the value of those goods and services decreased substantially, as did Canadians' ability to acquire goods and services from outside of Canada, as did the Canadian government's ability to pay debts etc. This all has very real effects of the country's economic "size" in an international sense.
And, while, yes, nominal GDP is effected by currency fluctuations, PPP is hardly immune from that, as currency values have a great impact on the cost of goods and services in a country for a variety of different reasons. So, nominal GDP is affected by the vagaries of currency fluctuation, and PPP is affected by that, plus a whole set of other vagaries placed on top of that, such as tax and tariff fluctuations, wage fluctuations, oil price fluctuations, and fluctuations in the price of a cheeseburger.
Egypt's economy in real dollars is somewhere between 44th and 51st in the world. Using PPP gives them a huge boost because while the economy is growing the currency has been greatly devalued and though inflation is very high the price of goods still aren't going up as fast as the pound is going down.
I was amazed I got all of these right. I had 1:24 remaining at 7:06:24 PM on February 26, 2019. Thailand was the last one I guessed, as I sorted through my mind what the most likely countries were.
-TERRIBLE MISTAKE- I was thinking about Egypt at first, but I didn't think it would be on there so I thought I might aswell leave it. I was missing one more and that one turned out to be Egypt! :(
Iran and Turkey are much more populous than Poland. Also, the GDPs are calculated using the purchasing power parity (ppp) method, which means that cheaper countries get a boost. Iran and Turkey have a lower cost of living than Poland.
it's not rich. But the economy has been doing well and they have a pretty large population. Also, the country is relatively cheap, so if you use actual GDP figures and not PPP they drop to 22nd-25th.
Missed taiwan and Poland
We all know how massive Nauru's economy is.
Got Taiwan 1st
And, while, yes, nominal GDP is effected by currency fluctuations, PPP is hardly immune from that, as currency values have a great impact on the cost of goods and services in a country for a variety of different reasons. So, nominal GDP is affected by the vagaries of currency fluctuation, and PPP is affected by that, plus a whole set of other vagaries placed on top of that, such as tax and tariff fluctuations, wage fluctuations, oil price fluctuations, and fluctuations in the price of a cheeseburger.
that was the exact same thing I was thinking
What a shame.-.