Ecuador - 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 Ecuador was 0.514 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 0.554 in 2015 and a minimum value of 0.248 in 2000.

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 0.309
1991 0.319
1992 0.325
1993 0.326
1994 0.367
1995 0.379
1996 0.377
1997 0.397
1998 0.377
1999 0.274
2000 0.248
2001 0.311
2002 0.343
2003 0.372
2004 0.378
2005 0.395
2006 0.414
2007 0.430
2008 0.480
2009 0.480
2010 0.510
2011 0.528
2012 0.551
2013 0.543
2014 0.544
2015 0.554
2016 0.549
2017 0.535
2018 0.532
2019 0.525
2020 0.514

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