OIC Member States Economic Comparison: GDP and PPP Analysis
The Organisation of Islamic Cooperation (OIC) comprises a diverse group of 57 member states spanning several continents. To understand the economic landscape of these nations, economists often look at the Gross Domestic Product (GDP), which represents the total value of all final goods and services produced within a country during a specific year.
While nominal GDP provides a raw figure, Purchasing Power Parity (PPP) is a more nuanced metric. PPP adjusts for the differences in cost of living and inflation rates between countries, allowing for a more accurate comparison of actual living standards and economic productivity across different currencies.
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Key Facts
- The dataset covers 57 member states of the OIC.
- Economic comparisons are based on data from 2012 and 2017.
- Turkey and Indonesia represent some of the largest economies in the group by total GDP PPP.
- Qatar exhibits the highest per capita GDP and PPP figures.
- Significant growth in GDP PPP was observed in nations like Bangladesh and Pakistan between 2012 and 2017.
Analyzing Economic Performance
When examining the OIC member states, there is a wide variance in economic scale. Large economies such as Turkey, Indonesia, and Saudi Arabia drive a significant portion of the group's total output. For instance, Turkey's GDP PPP grew from 1,125.42 billion USD in 2012 to 1,497.09 billion USD in 2017.
Per Capita Wealth and Living Standards
Total GDP does not always reflect the quality of life for the average citizen. Per capita figures—calculated by dividing the total GDP by the population—provide a clearer picture of individual wealth. Qatar stands out as a global leader in this regard, with a per capita GDP PPP reaching 122,684.13 USD in 2017.
Growth Trends (2012–2017)
The five-year window between 2012 and 2017 shows varying trajectories. Some nations experienced rapid expansion in their PPP values, while others maintained steady growth. This divergence often reflects local industrial shifts, resource management, and geopolitical stability.
Economic Data Summary
The following table highlights a selection of OIC member states to illustrate the disparity and growth across different economic tiers.
| Country | GDP (USD bln) | GDP PPP (USD bln) | Per Capita GDP (USD) | Per Capita PPP (USD) |
|---|---|---|---|---|
| Turkey | 1,170.08 | 1,497.09 | 14,748.21 | 18,870.00 |
| Indonesia | 1,842.78 | 1,814.58 | 7,022.67 | 6,915.24 |
| Saudi Arabia | 778.75 | 985.79 | 24,428.39 | 30,922.92 |
| Qatar | 237.85 | 274.46 | 106,320.28 | 122,684.13 |
| Bangladesh | 268.61 | 751.42 | 1,122.90 | 2,922.78 |
| Nigeria | 388.42 | 676.25 | 2,058.57 | 3,584.02 |
Frequently Asked Questions
What is the difference between GDP and GDP PPP?
GDP (Gross Domestic Product) measures the market value of all goods and services produced in a country using current exchange rates. GDP PPP (Purchasing Power Parity) adjusts these figures to account for the cost of living, making it easier to compare the actual buying power of different currencies.
Which OIC member state has the highest per capita wealth?
Based on the 2017 data, Qatar has the highest per capita wealth, with a per capita GDP of 106,320.28 USD and a per capita PPP of 122,684.13 USD.
How many countries are members of the OIC?
The Organisation of Islamic Cooperation consists of 57 member states.
Which countries showed significant GDP PPP growth between 2012 and 2017?
Several countries showed notable increases; for example, Bangladesh's GDP PPP rose from 305.51 billion USD in 2012 to 751.42 billion USD in 2017, and Pakistan's rose from 791.56 billion USD to 1,116.44 billion USD in the same period.
What does "per capita" mean in economic terms?
"Per capita" is a Latin term meaning "per person." In economics, it refers to the average amount of a particular economic indicator (like GDP or income) per person in a given population.