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International Comparison Program: 2017 round for Latin America and the Caribbean. Methodology and main results

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Author: Collinao, María Paz - De Camino, Claudia - Dorin, Federico - Tovar Soria, Martha UN symbol.: LC/TS.2020/178 124 p. Editorial: ECLAC, WORLD BANK GROUP March 2021

Description

The International Comparison Programme (ICP) is one of the world’s largest statistical initiatives. A total of 176 economies, 36 of which are from Latin America and the Caribbean, participated in the 2017 comparison. The World Bank, through the ICP Global Office, ECLAC, in its capacity as regional implementing agency, and the national statistical offices of the participating economies worked together to conduct this cycle.

This document presents the methodology used and the results pertaining to the PPP-based gross domestic product (GDP) and its expenditure components, as well as to the price level index, disaggregated at the subregional and national levels. It complements the global and regional measures already released by the World Bank for 2017. As from that cycle, ICP was instituted as a permanent programme, with cycles to be conducted regularly every three years, thus ensuring that PPPs will continue to be the leading economic indicator for international comparisons.

Table of contents

Introduction .-- I. Purchasing power parity: concepts and uses .-- II. The International Comparison Program in Latin America and the Caribbean, 2017 round .-- III. Methodology. A. GDP and its components. B. Prices. C. PPP estimation .-- IV. Results of the 2017 round for Latin Americaand the Caribbean at the regional and subregional levels .-- V. Conclusions and next steps.