Benin - 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 Benin was 0.368 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 0.479 in 2008 and a minimum value of 0.199 in 1994.

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 0.316
1991 0.298
1992 0.241
1993 0.299
1994 0.199
1995 0.250
1996 0.256
1997 0.228
1998 0.235
1999 0.329
2000 0.291
2001 0.282
2002 0.303
2003 0.367
2004 0.396
2005 0.401
2006 0.401
2007 0.428
2008 0.479
2009 0.463
2010 0.438
2011 0.468
2012 0.458
2013 0.469
2014 0.456
2015 0.373
2016 0.362
2017 0.373
2018 0.384
2019 0.356
2020 0.368

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