
Methodological document and main results Claudia de CaminoLady Viviana Infante Thank you for your interest inthis ECLAC publication Please register if you would like to receive information on our editorialproducts and activities. When you register, you may specify your particularareas of interest and you will gain access to our products in other formats. Click on the link below for our social networks andother channels for accessing our publications: https://bit.ly/m/CEPAL International Comparison Program:2021 cycle in Latin America and the Caribbean Methodological documentand main results Claudia de CaminoLady Viviana Infante This document was prepared by Claudia de Camino and Lady Viviana Infante, consultants with the Economic StatisticsUnit in the Statistics Division of the Economic Commission for Latin America and the Caribbean (ECLAC), under theauspices of the Statistics Division of ECLAC and the World Bank. This work was carried out within the framework of theactivities of the fourteenth tranche of the United Nations Development Account and the 2021 cycle of the InternationalComparison Program in Latin America and the Caribbean. The authors wish to thank the members of the Economic Statistics Unit of the ECLAC Statistics Division and of theInternational Comparison Program for their valuable comments, suggestions and contributions in preparing thisdocument. The support from the national teams of countries that participated in the 2021 cycle of the InternationalComparison Program in Latin America and the Caribbean is also gratefully acknowledged. The United Nations and the countries it represents assume no responsibility for the content of links to external sites inthis publication. Mention of any firm names and commercial products or services does not imply endorsement by the United Nations orthe countries it represents. The views expressed in this document, an unofficial translation of a Spanish original which did not undergo formal editing,are those of the authors and do not necessarily reflect the views of the Organization or the countries it represents. United Nations publicationLC/TS.2025/93Distribution: LCopyright © United Nations, 2025All rights reservedPrinted at United Nations, SantiagoS.2500603[E] This publication should be cited as: DeCamino,C. and Infante, L.V. (2025). InternationalComparison Program: 2021 cycle in LatinAmericaand the Caribbean. Methodological document and main results.Project Documents(LC/TS.2025/93). Economic Commission forLatin America and the Caribbean. Applications for authorization to reproduce this work in whole or in part should be sent to the Economic Commission for Latin Americaand the Caribbean (ECLAC), Documents and Publications Division, publicaciones.cepal@un.org. Member States and their governmentalinstitutions may reproduce this work without prior authorization, but are requested to mention the source and to inform ECLAC ofsuch reproduction. Contents Introduction..........................................................................................................................9 I.Purchasing Power Parities: concepts and uses...............................................................11A.Purchasing Power Parities................................................................................................11 B.Measurements of GDP and its expenditure components in PPP........................................13C.Uses................................................................................................................................14 II.International Comparison Program and Purchasing Power Parities.................................15A.Historical evolution of the ICP.........................................................................................15 B.ICP Governance................................................................................................................17C.Latin America’s participation in the 2021 ICP cycle...........................................................18 III.Results of the 2021 ICP cycle for Latin America and the Caribbean..................................21 IV.Methodological aspects of the International Comparison Program tocalculate Purchasing Power Parities and to implement the 2021 cyclein Latin America and the Caribbean..............................................................................33A.Conceptual Framework - National Accounts....................................................................34 B.Prices..............................................................................................................................361.Procedure................................................................................................................362.Link with the CPI......................................................................................................443.Collection questionnaires..............................................................