HC Deb 12 July 1982 vol 27 cc281-2W
Mr. Wigley

asked the Chancellor of the Exchequer if he will publish a table showing, for the most recent available date, the gross domestic product per head of population in equivalent £ sterling values for each country in the EEC and in NATO together with Sweden, Norway, Finland, Austria and Switzerland.

Mr. Bruce-Gardyne

Following is the information:

Gross Domestic Product, per capita, 1980
£ sterling
Based on market exchange rates Based on purchasing power parities
United Kingdom 4,017 4,017
Canada 4,550 na
United States 4,887 5,989
Austria 4,408 4,412
Belgium 5,081 4,598
Denmark 5,569 4,789
Finland 4,489 na
France 5,218 4,764
West Germany 5,721 4,969
Greece 1,810 2,468
Iceland 5,362 na
Irish Republic 2,233 2,670
Italy 2,970 3,795
Luxembourg 5,405 5,176
Netherlands 5,096 4,540
Norway 6,028 na
Portugal 1,044 1,941
Sweden 6,347 na
Switzerland 6,846 na
Turkey 504 na

Source: Derived from National Accounts of OECD Countries 1951–1980, Volume 1 Main Aggregates.

It is well recognised that the use of official or market exchange rates to convert GDP estimates to a common unit of measurement can give very misleading results because the rates do not necessarily reflect the relative purchasing power of national currencies in terms of the goods and services available in the countries being compared. A more realistic assessment is given by the use of purchasing power parities to convert to a common unit. Figures on this basis, expressed in terms of £ sterling, are given in the second column of the table above for those countries for which estimates are available.

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