West Bank and Gaza - 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 West Bank and Gaza was 0.569 as of 2020. As the graph below shows, over the past 26 years this indicator reached a maximum value of 0.672 in 2011 and a minimum value of 0.480 in 2005.

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
1994 0.572
1995 0.604
1996 0.609
1997 0.575
1998 0.538
1999 0.514
2000 0.556
2001 0.557
2002 0.556
2003 0.534
2004 0.495
2005 0.480
2006 0.491
2007 0.501
2008 0.575
2009 0.582
2010 0.651
2011 0.672
2012 0.612
2013 0.647
2014 0.608
2015 0.550
2016 0.559
2017 0.566
2018 0.551
2019 0.562
2020 0.569

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