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Global currency rankings via the iPod Nano

by Michael Rose Jan 23rd 2007 at 12:00PM

For years, The Economist has monitored the "Big Mac Index" to measure the relative purchasing power of various currencies; it's not an exact measurement but it's an interesting (and moderately nutritious) one. Now, as noted by Marginal Revolution, Australia's Commonwealth Bank has extended the idea by measuring the Nano Index: comparing, you guessed it, the relative price of an iPod Nano in 26 countries.

The results are far-ranging, and obviously subject to Apple's local pricing policies in addition to government and trade restrictions. Worst places to shop for a Nano: Brazil is by far the most expensive at $327.71, way more than 2nd through 5th places India, Sweden, Denmark and Belgium (all under $225). US shoppers have a pretty good deal at the list price of $149, with only Japan, Canada and Hong Kong slightly cheaper. See the MR post as well as the Yahoo News story for more analysis of the macroeconomic implications of the tiny MP3 player's price tag.

It's amazing that in only five years the iPod has achieved enough global brand status to allow "indexing" alongside the Big Mac, Coca-Cola and a Starbucks latte.

Update: Headline corrected to "Nano."

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For years, The Economist has monitored the "Big Mac Index" to measure the relative purchasing power of various currencies; it's not an...
 

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Gregorio Torres

In Venezuela you can buy an iPod nano 2gb for Bs. 850.000 that's about USD 395.35.

January 24 2007 at 12:21 PM Report abuse rate up rate down Reply
lanny

marcello: Hehe.. you have to multiply with the 1.30 instead of dividing. The price can not be less in USD than in EUROS :)

And 149 * 1.30 is ineed 194 (even more than 193)

January 24 2007 at 7:51 AM Report abuse rate up rate down Reply
lanny

Hungary: $245 Yeah, the silver medal!

January 24 2007 at 7:02 AM Report abuse rate up rate down Reply
Marcello

uhmmmm... there's something wrong with this chart or in the way i suppose the price for different countries are calculated: here in italy a 2Gb iPod nano costs 149€, as of today (24/01/2007) 1€ is worth a little more than 1.30$, that would mean that buying the iPod would cost me 114$, not 192$ like the chart says.

the original post on yahoo states that: "Purchasing power parity surveys compare the prices of goods in different countries and at their simplest level can help show whether one currency is undervalued against another."

it means that only prices and exchange rates are factored in and not the real purchasing power of a standard salary, so my calculations should be good (ok, i didn't consider shipping charges but probably neither they did considering the 149$ flat price for the US).

M

January 24 2007 at 5:28 AM Report abuse rate up rate down Reply
Eduardo Aigner

Well, Ilive in Brazil.... What can I say? I do NOT have an iPod.

January 23 2007 at 8:52 PM Report abuse rate up rate down Reply
Tom

It's actually the second most expensive in Iceland, which wasn't on the list, at $302.

January 23 2007 at 12:58 PM Report abuse rate up rate down Reply
Joey

Well it's probably down to rounding-up errors or something minor. A difference of +/-1 cent isn't much. Remember that it's against the cost of living etc, it's the real price, rather than the nominal price of the iPod, so there's bound to be minor errors like this.

January 23 2007 at 12:34 PM Report abuse rate up rate down Reply
icruise

Might want to change the headline to read "nano" instead of "shuffle." I was confused for a bit why the shuffle was so damn expensive.

January 23 2007 at 12:24 PM Report abuse rate up rate down Reply
Jonathan

There is definitly something wrong with this index:
check these 4 euro-zone countries:
5. Belgium $205.81

6. France $205.80

7. Finland $205.80

8. Ireland $205.79

They probably charge the same, but why the discrepancy?

January 23 2007 at 12:17 PM Report abuse rate up rate down Reply
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