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Sweden third on iPod Index

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10:59 CET+01:00
Sweden is the third most expensive country in the world in which to buy an iPod, according to a new index devised by an Australian bank.

In a move akin to The Economist's long-standing Big Mac Index, Sydney-based bank Commonwealth Securities has launched its own CommSec iPod Index.

The iPod index, just like its burger-based predecessor, is designed to measure the purchasing power parity (PPP) of a range of currencies.

But according to Commonwealth Securities, its index gives a more accurate picture of currency parity than that provided by the burgernomics model.

"A key difference between the iPod and Big Mac approaches is that Big Macs are made in a host of countries across the globe whereas iPods are predominantly made in China," CommSec chief economist Craig James told Australian Associated Press.

"Simply, an iPod nano should broadly cost the same across the globe. If there were substantial price differences customers would switch their purchases to other countries, especially given the power of the internet," he added.

Only Brazil and India are more expensive then Sweden when it comes to buying a two gigabyte iPod nano.

In Sweden an iPod will set the buyer back USD 213.03 (1,493 kronor).

The same item costs just USD 144.20 (1,010 kronor) in Canada, which was the least expensive of the 26 countries measured.

The CommSec iPod Index, based on January 2007 prices (US dollars):

1 Brazil $327.71

2 India $222.27

3 Sweden $213.03

4 Denmark $208.25

5 Belgium $205.81

6 France $205.80

7 Finland $205.80

8 Ireland $205.79

9 UK $195.04

10 Austria $192.86

11 Netherlands $192.86

12 Spain $192.86

13 Italy $192.86

14 Germany $192.46

15 China $179.84

16 South Korea $176.17

17 Switzerland $175.59

18 New Zealand $172.53

19 Australia $172.36

20 Taiwan $164.88

21 Singapore $161.25

22 Mexico $154.46

23 USA $149.00

24 Japan $147.63

25 Hong Kong $147.35

26 Canada $144.20

Source: CommSec, Apple

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