PPP conversion factor, private consumption (LCU per international $) - Country Ranking

Definition: Purchasing power parity conversion factor is the number of units of a country's currency required to buy the same amounts of goods and services in the domestic market as U.S. dollar would buy in the United States. This conversion factor is for private consumption (i.e., household final consumption expenditure). For most economies PPP figures are extrapolated from the 2011 International Comparison Program (ICP) benchmark estimates or imputed using a statistical model based on the 2011 ICP. For 47 high- and upper middle-income economies conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD).

Source: World Bank, International Comparison Program database.

See also: Thematic map, Time series comparison

Find indicator:
Rank Country Value Year
1 São Tomé and Principe 13,568.25 2016
2 Iran 12,032.33 2016
3 Somalia 10,731.68 2011
4 Vietnam 9,008.69 2016
5 Indonesia 4,985.70 2016
6 Guinea 3,987.88 2016
7 Lao PDR 3,243.18 2016
8 Paraguay 2,597.83 2016
9 Sierra Leone 2,306.15 2016
10 Cambodia 1,642.92 2016
11 Colombia 1,371.54 2016
12 Uganda 1,202.13 2016
13 Korea 1,041.39 2016
14 Madagascar 898.13 2016
15 Lebanon 892.38 2011
16 Mongolia 830.58 2016
17 Tanzania 809.28 2016
18 Burundi 676.58 2016
19 Uzbekistan 635.71 2011
20 Iraq 609.72 2015
21 Dem. Rep. Congo 579.01 2013
22 Central African Republic 468.94 2015
23 Chile 429.79 2016
24 Costa Rica 373.24 2016
25 Gabon 370.00 2016
26 Equatorial Guinea 345.68 2016
27 Myanmar 341.90 2016
28 Congo 331.02 2015
29 Chad 287.06 2015
30 Rwanda 282.71 2016
31 Guinea-Bissau 244.24 2016
32 Cameroon 239.26 2016
33 Senegal 235.31 2016
34 Côte d'Ivoire 235.14 2016
35 Togo 233.79 2016
36 Benin 223.38 2016
37 Niger 220.86 2016
38 Mali 218.99 2016
39 Burkina Faso 218.37 2016
40 Malawi 207.23 2016
41 Comoros 201.40 2015
42 Armenia 197.08 2016
43 Iceland 157.35 2016
44 Hungary 148.69 2016
45 Angola 132.33 2016
46 Guyana 131.13 2016
47 New Caledonia 130.14 2011
48 Nigeria 123.66 2016
49 Mauritania 121.97 2016
50 Vanuatu 116.28 2016
51 Kazakhstan 113.61 2016
52 Japan 108.75 2016
53 Djibouti 104.31 2016
54 Yemen 102.82 2014
55 Jamaica 79.75 2016
56 Albania 53.95 2016
57 Sri Lanka 49.70 2016
58 Serbia 49.00 2016
59 Cabo Verde 46.94 2015
60 Kenya 46.49 2016
61 Algeria 38.42 2016
62 Nepal 36.64 2016
63 Pakistan 32.08 2016
64 Bangladesh 31.89 2016
65 Syrian Arab Republic 30.65 2012
66 Haiti 28.33 2016
67 Russia 26.88 2016
68 Uruguay 23.43 2016
69 Macedonia 22.97 2016
70 Dominican Republic 22.30 2016
71 Bhutan 22.28 2016
72 Kyrgyz Republic 20.69 2016
73 Philippines 20.20 2016
74 Afghanistan 20.17 2016
75 India 19.98 2016
76 Mozambique 19.83 2016
77 Mauritius 19.46 2016
78 Venezuela 16.02 2015
79 Czech Republic 14.19 2016
80 The Gambia 13.57 2016
81 Thailand 12.82 2016
82 Honduras 11.75 2016
83 Nicaragua 11.26 2016
84 Norway 10.39 2016
85 Mexico 9.94 2016
86 Sweden 9.42 2016
87 Seychelles 8.63 2016
88 Ethiopia 8.58 2016
89 Denmark 8.27 2016
90 Solomon Islands 7.90 2015
91 Moldova 6.86 2016
92 Macao SAR, China 6.51 2016
93 Hong Kong SAR, China 6.45 2016
94 Namibia 6.30 2016
95 South Africa 6.26 2016
96 Eritrea 6.26 2011
97 Ukraine 5.91 2016
98 Trinidad and Tobago 5.67 2016
99 Botswana 5.29 2016
100 Swaziland 5.22 2016
101 Lesotho 4.67 2016
102 Guatemala 4.35 2016
103 Israel 4.33 2016
104 Morocco 4.20 2016
105 Sudan 4.03 2015
106 Croatia 3.99 2016
107 China 3.85 2016
108 Zambia 3.75 2016
109 Bolivia 3.44 2016
110 Suriname 3.25 2016
111 Qatar 2.81 2016
112 United Arab Emirates 2.81 2016
113 Argentina 2.77 2011
114 Egypt 2.74 2016
115 Papua New Guinea 2.48 2015
116 Barbados 2.46 2015
117 Brazil 2.19 2016
118 Antigua and Barbuda 2.19 2016
119 St. Lucia 2.11 2016
120 St. Kitts and Nevis 2.06 2016
121 Grenada 2.01 2016
122 Dominica 1.97 2016
123 St. Vincent and the Grenadines 1.94 2016
124 Saudi Arabia 1.94 2016
125 Tajikistan 1.88 2011
126 Romania 1.87 2016
127 Samoa 1.86 2016
128 Poland 1.85 2016
129 Peru 1.74 2016
130 Malaysia 1.66 2016
131 Tonga 1.63 2016
132 New Zealand 1.62 2016
133 Turkey 1.62 2016
134 Australia 1.55 2016
135 Turkmenistan 1.53 2011
136 Ghana 1.43 2016
137 Switzerland 1.41 2016
138 Canada 1.36 2016
139 Fiji 1.28 2016
140 Nauru 1.21 2011
141 Singapore 1.17 2016
142 Tuvalu 1.17 2011
143 Belize 1.15 2015
144 The Bahamas 1.14 2016
145 Cayman Islands 1.14 2011
146 Kiribati 1.07 2011
147 United States 1.00 2016
148 Ireland 1.00 2016
149 Luxembourg 0.99 2016
150 Finland 0.97 2016
151 Puerto Rico 0.97 2011
152 Palau 0.90 2011
153 Netherlands 0.89 2016
154 Belgium 0.87 2016
155 France 0.87 2016
156 Austria 0.85 2016
157 Georgia 0.85 2016
158 Germany 0.83 2016
159 Tunisia 0.83 2016
160 Italy 0.82 2016
161 Bosnia and Herzegovina 0.81 2016
162 Brunei 0.80 2016
163 United Kingdom 0.79 2016
164 Liberia 0.79 2016
165 San Marino 0.77 2016
166 Bulgaria 0.75 2016
167 Spain 0.73 2016
168 Cyprus 0.70 2016
169 Libya 0.69 2013
170 Greece 0.69 2016
171 Portugal 0.68 2016
172 Malta 0.66 2016
173 Slovenia 0.65 2016
174 Timor-Leste 0.65 2016
175 Estonia 0.61 2016
176 Ecuador 0.61 2016
177 Panama 0.59 2016
178 Latvia 0.57 2016
179 Slovak Republic 0.54 2016
180 El Salvador 0.52 2016
181 Lithuania 0.51 2016
182 Zimbabwe 0.51 2016
183 Montenegro 0.44 2016
184 Jordan 0.33 2016
185 Azerbaijan 0.33 2011
186 Cuba 0.29 2011
187 Bahrain 0.23 2016
188 Oman 0.20 2016
189 Kuwait 0.20 2016
190 Belarus 0.18 2011

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Development Relevance: In a market-based economy, household, producer, and government choices about resource allocation are influenced by relative prices, including the real exchange rate, real wages, real interest rates, and other prices in the economy. Relative prices also largely reflect these agents' choices. Thus relative prices convey vital information about the interaction of economic agents in an economy and with the rest of the world.

Limitations and Exceptions: Official or market exchange rates are often used to convert economic statistics in local currencies to a common currency in order to make comparisons across countries. Since market rates reflect at best the relative prices of tradable goods, the volume of goods and services that a U.S. dollar buys in the United States may not correspond to what a U.S. dollar converted to another country's currency at the official exchange rate would buy in that country, particularly when nontradable goods and services account for a significant share of a country's output. An alternative exchange rate - the purchasing power parity (PPP) conversion factor - is preferred because it reflects differences in price levels for both tradable and nontradable goods and services and therefore provides a more meaningful comparison of real output.

Statistical Concept and Methodology: PPP rates provide a standard measure allowing comparison of real levels of expenditure between countries, just as conventional price indexes allow comparison of real values over time. PPP rates are calculated by simultaneously comparing the prices of similar goods and services among a large number of countries. In the most recent round of price surveys conducted by the International Comparison Program (ICP) in 2011, 199 economies participated. The PPP conversion factors come from three sources. For 47 high- and upper middle-income countries conversion factors are provided by Eurostat and the Organisation for Economic Co-operation and Development (OECD). For the remaining 2011 ICP countries the PPP estimates are extrapolated from the 2011 ICP benchmark results, which account for relative price changes between each economy and the United States. Extrapolation for private consumption uses the consumer price index. For countries that did not participate in the 2011 ICP round, the PPP estimates are imputed using a statistical model. More information on the results of the 2011 ICP is available at www.worldbank.org/data/icp.

Periodicity: Annual