List of countries by GDP (nominal)
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.
Broad measures of economic progress
The World Bank suggests the usage of Human Development Index (HDI) and the Gross National Happiness Index (NHI). The HDI is a composite index of
The NHI focuses on the spiritual and material development of human beings by focussing on the four pillars of sustainable development, preservation of cultural values, conservation of natural resources and establishment of good governance. The bank also notes suggestions made by President Nicholas Sarkozy for the modification of the definition of GDP that stops the social and cultural damage that the current definitions are leading to. The Bank also suggests Adjusted Net Savings as an alternative to GDP.