ABSTRACT
As in the case of GDP, an attempt has been made to reduce the difficulty that the exchange rate is not satisfactory in converting output from one currency to a common currency. In table 1.3 construction output is quoted on PPP basis as well as on an exchange rate basis. The PPP value is based on all goods and services not just on construction output. The ratio of the exchange rate basis to the PPP basis is the same as that used for GDP. In fact, however, the rates of the purchasing power of a US dollar compared to the exchange rate calculation for all goods and services may be very different from that for construction output and the difference will vary for each country. The use of a PPP basis based on GDP calculations for construction is of limited value but it has been included because it is probably a nearer representation of 'truth' than exchange rates.
