Median PC-GDP-PPP

From Hobson's Choice

Median income per person per year, measured in actual purchasing power. Usually, almanacs will list average gross domestic product (GDP) per capita, measured in the exchange value of the currency. This exaggerates the disparity in incomes, since the currencies of poor countries are usually traded far below the rates at which their domestic prices would conform to Western prices for the same item. India's per capita GDP, measured this way, is only $800. In reality, this is the result of the grossly undervalued rupee. If we compare what the rupee buys in India with what the dollar buys in the USA, the exchange rate "should" be 10.55 rupees to the dollar. On currency markets, though, the rate is actually 44.86 rupees to the USD. The GDP (purchasing power parities) therefore reflects the actual commercial output of the Indian economy, but neglects the very consequential informal & subsistence economies.

The Acronym stands for "per capita (PC) gross domestic product (GDP), purchasing power parity (PPP)."

The median is deduced from the Gini Coefficient (37 for Nepal, 32 for India). If the Gini Coefficient is 37, then the median income will be 78% of the mean. In the case of Nepal, that translates to $1102, or less than half the median PC-GDP-PPP of India ($2417), where the income is somewhat more evenly distributed. Another poor country with a median income comparable to Nepal's is Bolivia ($1021).

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