Gabon - 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 Gabon was 0.456 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 0.706 in 2008 and a minimum value of 0.260 in 1998.

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 0.539
1991 0.446
1992 0.466
1993 0.343
1994 0.310
1995 0.342
1996 0.372
1997 0.323
1998 0.260
1999 0.293
2000 0.318
2001 0.283
2002 0.296
2003 0.347
2004 0.401
2005 0.467
2006 0.503
2007 0.557
2008 0.706
2009 0.545
2010 0.596
2011 0.691
2012 0.639
2013 0.641
2014 0.629
2015 0.502
2016 0.489
2017 0.482
2018 0.527
2019 0.499
2020 0.456

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