Gdp usd exchange rate remains static, So their GDP should be the same and should equal the cost of the Big Mac. Due to the difference in price levels, it costs 130 Rubles in Russia and 6$ in the US. So, the "correct" conversion rate equalizing price levels should be 22 Rubles per 1 USD. Using this conversion rate, the GDP of Russia and the US will be the same and will equal 6 dollars. However, if we use the current exchange rate of 63 rubles per dollar, Russia's GDP will be only $2.
You always get the best exchange rate with Wise, whether you send, spend, or convert money in dozens of currencies. During a given period, the gross domestic product of a country is the conventional metric of value-added via the production of goods and services in that country, as measured by the United Nations. The amount paid on finished goods and services, as well as the amount of income produced from that output, is included in this calculation.
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