Asked • 03/27/19

Calculating nominal GDP?

I would like to understand one detail of how nominal GDP of a country in a given year is calculated. It seems to me that the GDP in each country is first calculated in the national currency and then is converted to dollars. Is this correct?If yes, how can one make this conversion if a currency can weaken of strengthen itself significantly with respect to dollar within a year?Here is the list of such GDP's per country per year in US dollars:http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)For example take Russia, GDP in 2013 was 2,096,774 million dollars and in 2014 it is 2,057,000 million dollars.Now, we know that the rouble weakened significantly in 2014, (almost twice). So it looks like Russian GDP in dollars should have dropped significantly as well. But it had not done so. Why?

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