Fiji - 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 Fiji was 0.419 as of 2020. As the graph below shows, over the past 30 years this indicator reached a maximum value of 0.536 in 2008 and a minimum value of 0.335 in 2001.

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 0.437
1991 0.450
1992 0.459
1993 0.469
1994 0.487
1995 0.502
1996 0.509
1997 0.502
1998 0.387
1999 0.411
2000 0.355
2001 0.335
2002 0.354
2003 0.432
2004 0.471
2005 0.499
2006 0.491
2007 0.529
2008 0.536
2009 0.439
2010 0.462
2011 0.529
2012 0.519
2013 0.508
2014 0.494
2015 0.434
2016 0.447
2017 0.454
2018 0.446
2019 0.433
2020 0.419

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