Colombia - 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 Colombia was 0.357 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 0.670 in 2012 and a minimum value of 0.312 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 0.347
1991 0.338
1992 0.378
1993 0.398
1994 0.453
1995 0.477
1996 0.483
1997 0.503
1998 0.457
1999 0.411
2000 0.377
2001 0.356
2002 0.341
2003 0.312
2004 0.356
2005 0.410
2006 0.414
2007 0.482
2008 0.538
2009 0.506
2010 0.590
2011 0.632
2012 0.670
2013 0.646
2014 0.610
2015 0.466
2016 0.425
2017 0.450
2018 0.447
2019 0.410
2020 0.357

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