Saudi Arabia - 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 Saudi Arabia was 0.430 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 0.479 in 2018 and a minimum value of 0.188 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 0.226
1991 0.214
1992 0.208
1993 0.200
1994 0.198
1995 0.205
1996 0.217
1997 0.221
1998 0.188
1999 0.212
2000 0.230
2001 0.221
2002 0.231
2003 0.232
2004 0.251
2005 0.292
2006 0.317
2007 0.334
2008 0.386
2009 0.323
2010 0.374
2011 0.423
2012 0.440
2013 0.444
2014 0.439
2015 0.424
2016 0.437
2017 0.440
2018 0.479
2019 0.473
2020 0.430

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