Singapore - Price level ratio of PPP conversion factor (GDP) to market exchange rate

The value for Price level ratio of PPP conversion factor (GDP) to market exchange rate in Singapore was 0.607 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 0.711 in 1996 and a minimum value of 0.487 in 2003.

Definition: Purchasing power parity conversion factor is the number of units of a country's currency required to buy the same amount of goods and services in the domestic market as a U.S. dollar would buy in the United States. The ratio of PPP conversion factor to market exchange rate is the result obtained by dividing the PPP conversion factor by the market exchange rate. The ratio, also referred to as the national price level, makes it possible to compare the cost of the bundle of goods that make up gross domestic product (GDP) across countries. It tells how many dollars are needed to buy a dollar's worth of goods in the country as compared to the United States. PPP conversion factors are based on the 2011 ICP round.

Source: World Bank, International Comparison Program database.

See also:

Year Value
1990 0.498
1991 0.568
1992 0.597
1993 0.608
1994 0.652
1995 0.710
1996 0.711
1997 0.671
1998 0.581
1999 0.545
2000 0.544
2001 0.503
2002 0.491
2003 0.487
2004 0.508
2005 0.510
2006 0.528
2007 0.575
2008 0.592
2009 0.588
2010 0.627
2011 0.673
2012 0.677
2013 0.686
2014 0.682
2015 0.640
2016 0.636
2017 0.642
2018 0.663
2019 0.640
2020 0.607

Statistical Concept and Methodology: The ratio of the PPP conversion factor to the market exchange rate - the national price level or comparative price level - measures differences in the price level at the gross domestic product (GDP) level. The price level index tends to be lower in poorer countries and to rise with income.

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: Purchasing power parity