Kiribati - 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 Kiribati was 0.694 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 0.992 in 2011 and a minimum value of 0.436 in 1990.

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 0.436
1991 0.504
1992 0.490
1993 0.467
1994 0.525
1995 0.528
1996 0.602
1997 0.591
1998 0.531
1999 0.561
2000 0.503
2001 0.469
2002 0.509
2003 0.612
2004 0.688
2005 0.696
2006 0.664
2007 0.763
2008 0.813
2009 0.751
2010 0.884
2011 0.992
2012 0.973
2013 0.893
2014 0.857
2015 0.732
2016 0.718
2017 0.734
2018 0.738
2019 0.657
2020 0.694

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