Oman - 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 Oman was 0.465 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 0.568 in 2018 and a minimum value of 0.191 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 0.279
1991 0.247
1992 0.245
1993 0.226
1994 0.221
1995 0.220
1996 0.232
1997 0.223
1998 0.191
1999 0.209
2000 0.240
2001 0.224
2002 0.231
2003 0.250
2004 0.275
2005 0.327
2006 0.360
2007 0.380
2008 0.499
2009 0.371
2010 0.424
2011 0.481
2012 0.491
2013 0.496
2014 0.519
2015 0.515
2016 0.505
2017 0.520
2018 0.568
2019 0.543
2020 0.465

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