Results from the International Comparison Program (Benchmark) 2021 cycle include data for the new reference year 2021, revised data for the previous reference year 2017, and purchasing power parities (PPPs) time series for 2018 to 2020. 2021 results are available for 176 participating economies and their aggregate regions. They cover 45 expenditure headings and provide several indicators for each heading, including PPPs, national accounts expenditures in PPP and nominal terms, and price level indices. Imputed results are available for an additional 19 economies that did not participate in the ICP 2021 cycle. Revised 2017 results are available for 178 participating economies and cover 44 expenditure headings and several indicators, including PPPs, national accounts expenditures in PPP and nominal terms, and price level indices. Additionally, imputed results are available for 17 economies that did not participate in the ICP 2017 cycle. Annual PPPs are available for 2017 to 2021 and cover 6 major expenditure headings. 2022-2023 GDP PPP series are also provided beyond the most recent ICP benchmark based on the standard extrapolation approach. The standard ICP methodology between the two most recent 2017 and 2021 ICP cycles has been maintained. However, in ICP 2021, the Commonwealth of Independent States (CIS) region was linked through the standard global core list approach, unlike in ICP 2017, when the CIS region was linked through the Russian Federation, which participated in both the OECD and CIS comparisons. For ICP 2017, the Russian Federation results are based on the OECD comparison, and for ICP 2021, they are based on the CIS comparison. Furthermore, the Asia and Pacific region moved to the standard ICP approach for estimating housing PPPs based on rental and volume data during the ICP 2021 cycle. The standard approach was utilized for the revised ICP 2017 results and ICP 2021 results, both at the regional and global levels, instead of the previously utilized reference volume approach. 1/ PPPs are statistical estimates and should be treated as approximations of true values, subject to sampling, measurement, and classification errors. They should not be used as indicators of currency under- or overvaluation. ICP Results are based on data supplied by participating economies to the global and regional implementing agencies and produced in accordance with ICP methodology. Results are not deemed to be national official statistics. 2/ The standard ICP methodology between the two most recent 2017 and 2021 ICP cycles has been maintained. However, in ICP 2021, the Commonwealth of Independent States (CIS) region was linked through the standard global core list approach, unlike in ICP 2017, when the CIS region was linked through the Russian Federation, which participated in both the OECD and CIS comparisons. For ICP 2017, the Russian Federation results are based on the OECD comparison, and for ICP 2021, they are based on the CIS comparison. Furthermore, the Asia and Pacific region moved to the standard ICP approach for estimating housing PPPs based on rental and volume data during the ICP 2021 cycle. The standard approach was utilized for the revised ICP 2017 results and ICP 2021 results, both at the regional and global levels, instead of the previously utilized reference volume approach. For the time series estimates for 2018-2020, data were complemented with internal estimates by ICP Global Office where participating economies could not provide any of input data required for PPPs time series estimates.
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Last Updated:08/04/2024