Korea - PPP conversion factor

PPP conversion factor, GDP (LCU per international $)

The value for PPP conversion factor, GDP (LCU per international $) in Korea was 808.46 as of 2021. As the graph below shows, over the past 31 years this indicator reached a maximum value of 872.62 in 2017 and a minimum value of 559.92 in 1990.

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 GDP. 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:

Year Value
1990 559.92
1991 591.11
1992 622.89
1993 646.53
1994 684.66
1995 717.70
1996 733.77
1997 750.21
1998 775.06
1999 754.89
2000 747.74
2001 756.70
2002 769.77
2003 791.29
2004 794.71
2005 788.92
2006 772.22
2007 770.09
2008 785.72
2009 828.42
2010 840.99
2011 854.59
2012 854.89
2013 869.08
2014 871.88
2015 857.48
2016 858.81
2017 872.62
2018 854.87
2019 864.63
2020 824.60
2021 808.46

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 Korea was 0.699 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 0.931 in 1995 and a minimum value of 0.553 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 0.791
1991 0.806
1992 0.798
1993 0.805
1994 0.852
1995 0.931
1996 0.912
1997 0.789
1998 0.553
1999 0.635
2000 0.661
2001 0.586
2002 0.615
2003 0.664
2004 0.694
2005 0.770
2006 0.809
2007 0.829
2008 0.713
2009 0.649
2010 0.727
2011 0.771
2012 0.759
2013 0.794
2014 0.828
2015 0.758
2016 0.740
2017 0.772
2018 0.777
2019 0.742
2020 0.699

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

The value for PPP conversion factor, private consumption (LCU per international $) in Korea was 968.47 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 1,001.39 in 2019 and a minimum value of 519.60 in 1990.

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:

Year Value
1990 519.60
1991 558.54
1992 589.01
1993 612.48
1994 657.39
1995 684.93
1996 716.42
1997 748.15
1998 787.02
1999 797.02
2000 824.57
2001 842.74
2002 871.60
2003 880.91
2004 886.34
2005 879.37
2006 872.17
2007 866.03
2008 882.09
2009 901.22
2010 908.38
2011 912.02
2012 914.93
2013 976.33
2014 994.76
2015 959.68
2016 967.11
2017 992.07
2018 980.36
2019 1,001.39
2020 968.47

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: Purchasing power parity