International Comparison Program (ICP)

The International Comparison Program (ICP) is a global effort to compare the economic performance and living standards of countries. It collects data on prices, wages, and the cost of goods and services to determine purchasing power parity (PPP)—how much different currencies can buy in their respective countries. This helps to accurately compare countries’ economies, identify disparities, and inform policies. By standardizing measurements, ICP provides a fair basis to compare economic size and living costs across nations, enabling better understanding of global economic development and income levels.