Iraq - 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 Iraq was 0.436 as of 2020. As the graph below shows, over the past 29 years this indicator reached a maximum value of 0.547 in 2018 and a minimum value of 0.009 in 1991.

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
1991 0.009
1992 0.009
1993 0.012
1994 0.043
1995 0.135
1996 0.096
1997 0.155
1998 0.113
1999 0.170
2000 0.186
2001 0.134
2002 0.131
2003 0.135
2004 0.143
2005 0.186
2006 0.223
2007 0.291
2008 0.390
2009 0.318
2010 0.366
2011 0.447
2012 0.451
2013 0.456
2014 0.478
2015 0.480
2016 0.483
2017 0.474
2018 0.547
2019 0.525
2020 0.436

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